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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Bulgaria fuel prices up 27.8% y/y in April
The UK eases Russia sanctions amid energy crisis
The UK has eased some Russian energy sanctions as the Hormuz crisis exposes growing dependence on imported fuel and gas.
Norway overtakes Russia as world's top gas pipeline exporter
Norway overtook Russia as the world’s biggest exporter of gas via pipeline in 2025, reflecting Moscow’s loss of most of its market share in Europe over the past four years.
Serbia secures fresh sanctions waiver as NIS talks drag on
Serbia avoided US sanctions on its oil company Naftna Industrija Srbije (NIS) after Washington extended a deadline for talks on the sale of a majority Russian stake to June 6, giving Hungary’s MOL Group more time to finalise a deal.
Explosion at MOL’s petrochemical base kills one person
An explosion during a restart operation at a MOL petrochemical plant left one person dead and several seriously injured, in the second major incident at MOL's Hungairan units in less than a year.
Czech coal baron Tykac acquires US oil wells
Lukoil Bulgaria refinery revenue falls 36%, losses nearly double
Bulgaria’s largest refinery, operated by Lukoil Neftochim Burgas, reported a sharp drop in revenue and a widening loss in 2025, hit by sanctions, weak refining margins and operational disruptions.
Slovenia and Croatia agree gas interconnection capacity upgrade to boost regional supply
Serbia pessimistic on MOL-NIS deal as sanctions deadline nears
Serbia is pessimistic about securing a deal with Hungary’s MOL to take over the majority Russian stake in oil company NIS before a key US sanctions deadline, President Aleksandar Vucic said on May 20, warning that talks were not progressing well.
Bulgaria’s Lukoil administrator urges state buyback of Burgas refinery
The state-appointed administrator overseeing Bulgaria’s Lukoil assets has said the government should consider buying back the country’s only oil refinery, calling it a “historic opportunity”.
Europe may regret burying Groningen
Europe’s gas crisis is reopening the debate over whether Groningen should stay closed.
EU members discuss ramping up oil and gas production to safeguard energy security
EU energy ministers have discussed ways to increase domestic oil and gas production as the bloc tries to strengthen energy security while preserving its long-term climate goals.
OMV kicks off production at Austria's biggest gas find in four decades
Austria’s national oil company OMV has started production at Wittau, the country’s largest natural gas discovery in four decades, in a project the company says could double its domestic gas output once fully developed.
China's Wison starts topsides for third phase of Turkey's Sakarya field
China’s Wison New Energies has started fabricating the topsides for the floating production unit that will serve the third phase of Turkey’s Sakarya gas field development, marking a further step forward for the Black Sea project.
Equinor strikes five-year deal with Energo for German gas supply
It is the latest in a series of long-term contracts that have strengthened Norway’s role as Germany’s main replacement for Russian pipeline gas.
Kazakhstan’s Kashagan oilfield to suspend production for maintenance
Kazakhstan’s Kashagan oilfield, the country’s second-largest oil producer, is reported to be set to halt production for over four weeks beginning in June to conduct planned maintenance work.
BP to focus on increasing its LNG trading
British supermajor BP has plans to expand its LNG trading and will dismantle its pipeline gas trading team.
Serbia awards Hungary oil pipeline contract to MVM-led consortium
Serbia’s state-owned oil pipeline operator has awarded a contract for the construction of a key crude oil pipeline linking the country with Hungary to a consortium led by MVM Južna Bačka.
Bulgaria gasoline prices hit highest since Middle East conflict began
Retail gasoline prices in Bulgaria have reached their highest level since the outbreak of war in the Middle East, rising to €1.51 per litre on May 15.
Ludoil Energy’s ISAB refinery deal strengthens Africa-Europe energy links
Italy-based private energy company Ludoil Energy has agreed to acquire a controlling stake in ISAB, owner of the Priolo Gargallo refinery in Sicily, Italy’s largest refinery and a key fuel supply hub in the Mediterranean.
Slovak PM Fico wants state oil company Transpetrol involved in buying Russian oil
Slovak populist Prime Minister Robert Fico wants the state oil company Transpetrol to be involved in the purchases of Russian oil.
Hungarian government releases motor fuel from strategic reserves to help smaller fuel stations
The Hungarian government has ordered the release of 575mn litres of fuel from strategic reserves to secure regulated fuel supply as small operators faced supply shortages due to price caps and depletion of reserves.
Turkey reportedly proposes building Nato fuel pipeline to Romania via Bulgaria
Turkey has proposed building a fuel pipeline to serve military needs of Nato that would connect Turkey to Romania via Bulgaria, Bloomberg on May 15 cited unnamed Turkish people familiar with the matter as saying.
Serbia to submit final NIS proposal to MOL as talks near deadline
MOL has been in exclusive talks to acquire a 56.15% stake in NIS from Russia’s Gazprom Neft and Gazprom, which are under pressure to divest following US sanctions imposed in 2025.
Turkey seeks higher Kazakh oil flows to Mediterranean via BTC
Turkish President Recep Tayyip Erdogan has said Turkey wants greater volumes of Kazakh oil to reach global markets through the Baku-Tbilisi-Ceyhan (BTC) pipeline.

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