EurOil - Europe Oil & Gas

Transgaz gets funding for Romanian gas system development

Romania’s position in the EU as a gas supplier is expected to be key by the end of this decade. Not only will it be producing gas from the Black Sea, but it will also be an important transit hub with connections in Eastern Europe and beyond.

VTTI buys 50% stake in UK’s Dragon LNG terminal

Dutch energy infrastructure firm VTTI has acquired a 50% stake in the UK’s Dragon LNG terminal.

European gas traders reluctant to use Ukrainian storage this summer

European gas traders have used Ukraine’s substantial storage facilities for the fuel only sparingly this summer, in light of Russian attacks and ample supplies of stock already in the EU.

EurOil: UK government follows through on North Sea tax hike

UK plans new LNG import terminal in Scotland

The UK could soon be getting another LNG import terminal, with plans in the works for a proposed facility in Grangemouth, Scotland.

Hungary's MOL beats forecasts with solid Q2 earnings

Kyiv's capture of key border facility raises risk of early end to Russian gas transit via Ukraine

The capture of the Sudzha gas metering border station raises the risk of an early termination of Russian gas transit through Ukraine ahead of the expiry of Moscow and Kyiv’s long-term contract at the end of this year.

INA workers demand urgent pay raise

ING: LNG flows to Europe remain under pressure

European and Asian gas prices have remained well supported over the last month. Stronger Asian demand, supply disruptions and geopolitical risks in the Middle East have all provided support. However, US gas prices have come under renewed pressure.

Shell beats Q2 expectations

Shell's second-quarter results surpassed analysts' expectations, despite weaker performance across various segments compared to the first quarter of the year.

Germany takes record FIDs on green hydrogen projects

European green hydrogen developers made final investment decisions on five new plants in July, boasting a combined electrolysis capacity exceeding 450 MW.

Trafigura, Entara acquire French refinery from ExxonMobil

Rhone Energies, a joint venture between commodity trader Trafigura and energy infrastructure firm Entara, has agreed to acquire the Fos-sur-Mer oil refinery and the Toulouse and Villette-de-Vienne terminals in France from ExxonMobil’s ESSO unit.

UK government follows through on North Sea tax hike

The new UK Labour government has followed through on its commitment to hike the tax burden on North Sea oil and gas producers.

Largest Turkish refiner Tupras beats market expectations with 5bn lira net profit in 2Q24

JT Grup’s shares down 20% from discounted IPO price after first day on Bucharest exchange

The shares of JT Grup, a company involved in petroleum product distribution and port operations dropped by 20% compared to the price paid by the investors in the €4mn IPO earlier last year after the first day of trading at Bucharest Exchange.

There is something fishy about the Ukraine sanctions on Lukoil's deliveries to Hungary and Slovakia

Ukraine's recent partial restriction on the operation of the Russian Druzhba oil pipeline has sparked a big row between the war-torn country and Hungary and Slovakia who say they have been cut off from their Russian oil supplies.

EU launches probe into Cypriot LNG project

The EU has launched a probe into corruption surrounding Cyprus’ trouble-stricken LNG import project, as it seeks to reclaim a grant issued to the island’s government to support the investment.

What makes Russian gas Russian? How Azerbaijan’s gas transit through Ukraine would likely work

Likely, any Azeri gas that does flow through Ukraine after this year will be Azeri in name only, with the molecules originating in Russia.

Hungary rules out oil imports via Croatia

Hungarian Foreign Minister Peter Szijjarto on August 2 ruled out securing oil supplies from Croatia as a replacement for lost shipments from Russia’s Lukoil via Ukraine, citing high transit fees.

Azerbaijan starts gas supplies to Slovenia

Azerbaijan's state-owned oil and gas producer SOCAR began gas supplies to Slovenia on August 1, as the company continues to expand its foothold in the European market.

Austria to phase out Russian gas imports by 2027

Austria’s ruling coalition has agreed to halt imports of Russian natural gas by 2027 as part of a new security strategy, as reported by the Kurier newspaper on August 5.

Hungary reacts angrily to European Commission’s call to reduce dependency on Russian oil

Hungary’s rude rejection of Croatia’s oil transit offer angers Zagreb

Croatia offered to transport oil to refineries in Hungary and Slovakia after Ukraine blocked Lukoil exports via Druzhba pipeline, but was rejected as "not reliable" by Hungary's foreign minister.

JT Grup floats its shares at Bucharest Exchange after €4mn IPO

Fuel distributor and port operator JT Grup Oil, which is building the newest private terminal for petroleum products in the port of Constanta, will list its shares at Bucharest Stock Exchange on August 6.

US LNG exports shift from Europe to Asia in July

US LNG exports are increasingly being bought up by Asian purchasers at the expense of European buyers data for July deliveries revealed.