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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Serbia to begin expansion of Banatski Dvor gas storage facility
Serbia is set to begin the long-awaited expansion of the Banatski Dvor natural gas storage facility in October 2024, with the project expected to be completed within a year and a half.
Slovenia's Geoplin seals first natural gas supply deal with Azerbaijan's SOCAR
Slovenia's leading gas wholesaler, Geoplin, said on August 1 it has concluded its first natural gas supply agreement with Azerbaijan’s energy giant SOCAR.
OMV Petrom’s net profit nearly triples y/y in H1
The Romanian energy group OMV Petrom (BVB: OMV) announced its net profit surged 2.8-fold to RON2.63bn (€530mn) despite its revenues from sales edging down by 3% y/y to RON17.25bn (€3.47bn).
Gas consumption in Czechia fell by 8% y/y in H1
Scottish LNG project clears milestone
Romania’s Nuclearelectrica ponders 100 MW gas-fired power unit
Romania’s nuclear power group Nuclearelectrica is considering investing in a power generation unit with combined cycle gas turbines with a power of approximately 100-120 MW.
Trillion reports mixed well perforation results off Turkey
Canadian oil and gas firm Trillion Energy has reported mixed results from well perforations at the SASB natural gas field in the Turkish Black Sea.
European gas prices climb on Middle East tensions
European natural gas prices climbed at the start of this week, amid heightened Middle Eastern tensions following a rocket strike in the Golan Heights and reduced wind speeds that led to higher gas-for-power demand.
TotalEnergies presses on with plan to list in New York
French oil and gas major TotalEnergies is continuing work towards listing itself in New York to attract more US investment, CEO Patrick Pouyanne said in an earnings call on July 25.
Uniper produces first bio-LNG at Dutch Gate terminal
German energy utility Uniper announced on July 30 it had become the first shipper to produce bio-LNG at the Gate terminals in Rotterdam.
UK gas network ready for 100% hydrogen, study says
The UK natural gas network is now ready to supply clean hydrogen as a fuel for homes and industry.
Serbia’s NIS doubles capital investments in H1 2024
NIS, Serbia's leading oil and gas company, announced on July 29 that it had invested RSD24.4bn (€208mn) in capital projects during the first half of 2024, marking a 111% increase compared to the same period in 2023.
Swiss energy trader MET secures $1.2bn borrowing facility
Switzerland-based energy trader MET Group has secured a €1.1bn ($1.2bn) borrowing facility for its sales and trading operations.
Cyprus works to limit damage in wake of LNG terminal fiasco
The government of Cyprus finds itself in the embarrassing position of having its long-delayed, long-anticipated LNG regasification terminal project at the southern port of Vassilikos investigated by the European Public Prosecutor’s Office.
EurOil: ExxonMobil, Shell exit Dutch North Sea
US, UK called out on hypocrisy on climate pledges as they ramp up oil and gas exploration to record levels
The US and UK have been accused of hypocrisy as they blow through their carbon budget allowances and issue record amounts of oil and gas exploration licences, The Guardian reports, according to a new report from energy consultant Rystad and the IISD.
European Commission in no rush to step in and settle Lukoil transit ban dispute
Ukraine’s recent sanctions have barred Lukoil from using the country for transit, affecting both Hungary and Slovakia.
Halt of oil imports from Lukoil should not lead to lack of oil in Slovakia, analysts say
In an earlier development, Ukraine tightened sanctions against Lukoil which affected the company’s oil transit to Hungary and Slovakia.
Slovakia threatens Ukraine with retaliation over halted Russian oil imports
Ukraine’s tightened sanctions against Russian oil giant Lukoil have led to a decreased flow of Russian oil into Hungary and Slovakia.
Hungary, Slovakia warn of fuel crises after Kyiv partially blocks Russian oil transit
The government in Kyiv has typically avoided imposing sanctions on Russia that significantly hurt EU member states, though this would mark a rare precedent.
Labour yet to clarify North Sea oil and gas policies
The UK’s Labour government is yet to clarify its position on the future of the North Sea oil and gas industry, despite outlining a raft of new proposed legislation on expanding the country’s clean energy sector.
ExxonMobil, Shell exit Dutch North Sea
Shell and ExxonMobil have withdrawn from the Dutch North Sea, announcing a deal on July 19 to sell their NAM Offshore joint venture to Canadian independent Tenaz Enery for $180mn.
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