Region: Europe Category: Oil and Gas Frequency: Every Thursday
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About: EurOil analyses key trends such as the influx of private equity into the North Sea and how it is shaping the basin's future. The monitor also provides key insight on major trends such as decommissioning and the development of frontier regions like West of Shetland. Midstream developments also take prominence, with deep analysis of the region's gas needs and how they will be met in the future.
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TotalEnergies enjoys 12% bump in profits in Q2 on higher prices amid Middle East war
TotalEnergies’ adjusted net income rose by 12% quarter on quarter to $6.0bn in the second quarter, as higher oil prices and stronger refining margins outweighed production losses caused by the Middle East conflict.
Australia's Worley scores pre-FEED for Dutch CCS project
Worley will refine the development concept, establish its technical basis, prepare cost estimates and reduce execution risks before the project moves into FEED.
Dutch gas platform produces first green hydrogen from electrolyser
The PosHYdon pilot has produced its first green hydrogen on an operational gas platform in the Dutch North Sea, demonstrating how offshore wind, hydrogen production and existing natural gas infrastructure can be integrated.
Ukraine mulls lifting ban on gas exports amid spike in European prices
Ukraine is considering partially lifting its ban on exports of domestically produced natural gas, allowing selected producers to sell up to 15% of their output abroad after more than four years of restrictions.
Russian court postpones hearing on Gazprom's seized shares in pipeline operator
Proceedings began in March 2024. Gazprom initially sought $710mn and PLN886.4mn, worth more than $900mn at the time, before raising the claim to $1bn.
Germany faces five times higher gas prices versus 2020
The newspaper compared an average German border import price of around €12 per MWh in 2020 with European wholesale prices of just over €60 per MWh at the start of this week.
Kazakhstan cuts oil production after drone attacks cause CPC export disruption
Kazakhstan has temporarily reduced oil production after a series of drone attacks forced the suspension of export loadings at the Caspian Pipeline Consortium (CPC) terminal on Russia's Black Sea coast, says a report.
Low Danube levels threaten Serbia’s river traffic, disrupt fuel imports
Exceptionally low water levels on the Danube are threatening to disrupt river navigation in Serbia and have slowed imports of petroleum products, adding pressure to fuel supplies amid high demand and elevated global oil prices.
Norway's Equinor strikes oil near Johan Castberg
The discovery was made at the Skrugard North Tubåen prospect, around 6 km north of Johan Castberg and 240 km northwest of Hammerfest.
EU backs 21th sanctions package on Russia, targeting banks, oil trading and cryptocurrency
EU ambassadors agreed a 21st sanctions package against Russia on July 23, targeting more banks, oil trading and cryptocurrency networks and vessels supporting Moscow’s oil exports.
Turkey’s gas, crude purchases up 3% y/y in May
Turkey’s natural gas imports rose 2.95% y/y to 3.64bn cubic metres (bcm) in May, while oil and petroleum product imports increased 2.97% y/y to 4.09mn tonnes, according to monthly reports issued by the Energy Market Regulatory Authority (EPDK).
Romania’s oil supplies at risk after Kazakhstan suspends CPC exports via Black Sea
Romania's crude oil supplies could come under pressure after Kazakhstan suspended exports through the CPC terminal at Russia's Black Sea port of Novorossiysk. Kazakhstan supplies slightly more than 50% of the crude oil refined in Romania.
EU naval forces board suspected Russian shadow fleet tanker
EU naval forces boarded the Cameroon-flagged products tanker South Star in the Mediterranean on July 20 over suspicions that it was fraudulently claiming its nationality.
New UK leadership offers chance for new energy policy
Andy Burnham should combine the UK’s clean-energy ambitions with a reset of North Sea policy, supporting domestic oil and gas production to curb import dependence, retain industrial capacity and strengthen energy security.
European diesel stocks on track for 11-year seasonal low
Global fuel supply remains extremely tight amid ongoing blockage of the Strait of Hormuz following the re-escalation of the US-Iran war.
TotalEnergies commissions second SOx scrubber at Antwerp refinery
The scrubber will help the site meet tighter emissions requirements attached to its renewed operating permit.
Croatia's INA completes first of five gas wells in new offshore campaign
Croatia’s INA has completed the first well in a $74mn five-well drilling campaign aimed at raising gas production from its mature offshore North Adriatic fields.
Norway's Equinor enjoys wartime bump in profits in Q2
Equinor produced 2.165mn barrels of oil equivalent per day during the quarter, 3% more than a year earlier, supported by new production in Norway, the UK and Brazil.
Allied Biofuels taps Latvia's Pro Logistic Services for Uzbekistan SAF exports
Allied Biofuels has signed a logistics cooperation agreement with Latvia's Pro Logistic Services SIA to develop export infrastructure for sustainable aviation fuel (SAF) and electric sustainable aviation fuel (e-SAF) from its planned biorefinery.
Kazakhstan warns Kashagan operator of possible criminal action over unpaid environmental fine
Kazakhstan has reportedly warned the head of the consortium operating the Kashagan oil field of possible criminal prosecution after the developer failed to pay a KZT 2.3 trillion ($4.92bn) environmental fine,
Ukraine not behind latest drone attacks on tankers serving main Kazakh oil export route, claims Kyiv
Ambassador to Astana suggests Russia is running false flag operations.
Norway's SLB OneSubsea secures midstream, upstream contracts for Var Energi
Oslo-based SLB OneSubsea has secured two contracts from Norwegian operator Vår Energi covering gas export infrastructure at the Goliat field and new subsea wells at Balder off Norway.
Norwegian gas output beats forecast in June
Norway’s natural gas production rose by more than 13% year on year in June and exceeded the official forecast by 5.1%.
OMV Petrom, Romgaz install platform at Neptun Deep gas project off Romania
OMV Petrom and Romgaz have installed the Neptun Alpha production platform at their Neptun Deep gas project in the Romanian Black Sea, completing another major step towards first production in 2027.
Orcadian eyes plan to use UK gas to power data centre
The proposed Earlham Gigagrid would combine production wells, an offshore gas-fired power station equipped with carbon capture and a neighbouring data-centre platform.
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