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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Azerbaijan, Slovenia discuss gas supply expansion and green energy cooperation
According to a press release by Azerbaijan's Energy Ministry, both sides expressed satisfaction with the development of bilateral relations, which will mark their 30th anniversary in 2026.
Just 111 of the world’s biggest companies are causing $28 trillion worth of climate damage, says study
Just 111 of the world’s largest fossil fuel companies are collectively responsible for an estimated $28 trillion in climate-related economic damage, and just ten of those companies are responsible for half of that total.
Albania issues arrest warrants in tax, money laundering probe targeting Bankers Petroleum
Chinese-owned Bankers is the developer of Albania's Patos-Marinza oil field, one of the biggest onshore oil fields in Europe.
TotalEnergies confirms sale of North Sea assets to Prax still pending
France’s TotalEnergies has confirmed that its previously agreed sale of West of Shetland offshore assets to Prax Group has not been completed.
Ascent wins long-running dispute with Slovenian joint venture partner
London-listed Ascent Resources has secured a favourable arbitration ruling in its long-running dispute with Geoenergo.
UKOG sheds oil and gas assets in pivot to clean hydrogen
London-listed UK Oil & Gas has agreed to sell its wholly-owned subsidiary UKOG GB to Servatec Holdings for £400,000 in cash ($545,000).
Ithaca wraps up $193mn takeover of JAPEX's UK operations
The deal increases Ithaca’s stake in the key Seagull field operated by BP.
MET Group acquires German gas storage operator KGE
Swiss-based energy company MET Group has acquired 100% of Kommunale Gasspeichergesellschaft Epe (KGE), a gas storage operator located in North Rhine-Westphalia.
OMV Petrom strikes gas onshore Romania
The find was confirmed by the 1 Spineni exploration well, drilled to a depth of around 4,800 metres.
Germany lowers official gas storage target
However, a colder-than-expected winter or renewed geopolitical disruptions could still expose the country to energy risks.
Poland, Ukraine extend winter gas guarantee deal
Ukraine and Poland have extended their agreement on guaranteed natural gas supply volumes via the Polish gas transmission system.
Russia’s LNG exports fall in first half of year
Russia’s LNG exports have dipped by 4.4% over the first half of the year.
Global LNG liquefaction capacity to grow 37% by 2028: GIIGNL
Global LNG liquefaction capacity is expected to grow by 37% to over 672.1mn tonnes per year by 2028 as producers commission around 180mn tpy of new capacity.
OMV Petrom discovers natural gas near Craiova
Romania’s oil and gas group OMV Petrom said on July 3 it has discovered a new natural gas reservoir in Spineni, located around 70 km north-east of Craiova.
Serbia-Hungary oil pipeline construction set for 2026 start
Serbia and Hungary have agreed on the technical specifications for a new cross-border oil pipeline, with construction set to begin in 2026.
Turkey hikes gas prices by 25% for households
Turkey’s government-run natural gas monopoly Botas has hiked gas prices for households by 24.6% on average. The final gas prices for industrial enterprises was also hiked by 7.86% on average.
TotalEnergies aims Mozambique LNG construction restart by December 2025, first gas in 2029
French energy super major TotalEnergies plans to resume construction of its $20bn liquefied natural gas (LNG) project in northern Mozambique by December 2025 after a four-year stoppage triggered by security concerns
Equinor, partners greenlight $1.23bn Sverdrup expansion in Norway
Norway’s Equinor and its partners have approved a NOK13bn ($1.23bn) investment to expand the Johan Sverdrup oilfield in the North Sea, in a move that is expected to add up to 50mn barrels of oil equivalent (boe) in recoverable reserves.
Shell, Equinor unveil new "Adura" UK upstream partnership
The pair have set their sights on creating the leading UK North Sea producer.
Shell denies bid to take over BP
Analysts continue to debate whether a merger would have made strategic sense amid pressure on both firms to boost shareholder returns.
Viaro to acquire fellow UK player Deltic in $9.5mn deal
It marks the latest expansion by the private UK-based upstream player into the UK North Sea.
Equinor takes FID on Norway's Fram Sor project
Norway’s Equinor and its partners have approved a NOK21bn investment in the Fram Sor project.
Poland ends the last of Russian oil imports
Poland’s largest energy company, state-owned Orlen, has ended its last contract for Russian crude oil and halted these imports, declaring finally that it has “freed the region from Russian crude oil”.
Hungarian energy firm Alteo strengthens circular economy portfolio with new deal
Alternative energy company Alteo has completed its acquisition of waste management firm Eltex from Global Refuse Holding, the Budapest-listed group partly owned by MOL, it announced on June 30.
Turkey to specify sustainable aviation fuel mandates
Turkey has decided to specify mandates for airlines and jet fuel suppliers as it pushes to hike the uptake of sustainable aviation fuel (SAF), the country’s civil aviation authority has announced on its website.
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