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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Ukrainian heating firms told to halt gas withdrawals over debt
In the event of non-compliance, the company warned it would forcibly cut gas supply and block accounts.
UK grants Transneft licence to handle Kazakh oil
The UK authority said the licence is valid from March 19, 2026, to March 18, 2028.
Serbia to extend Russian gas deal through October
Serbia expects to extend its current natural gas supply arrangement with Russia by the end of March, securing deliveries until October under a short-term annex agreement.
Serbia to tap oil reserves to curb rising fuel prices
Serbia is negotiating with oil companies to release 40,000 tons of oil, or roughly 15% of its strategic reserves, to the domestic market amid rising global energy prices.
Serbian oil company NIS reports steep losses amid US sanctions
NIS posted a net loss of RSD12.2bn (€104.5mn) in 2025, according to a report by Nova Ekonomija, highlighting the strain from US sanctions and falling global oil prices last year.
Bulgaria fuel prices surge, diesel up 24% since start of war
Since the start of the Iran war on February 28, diesel prices in Bulgaria have jumped from €1.29 to €1.60 per litre, an increase of 24.03%.
Slovenia becomes first European country to cap fuel sales
Government announces 50 litres per person limit for petrol sales, considers measures to prevent "petrol tourism".
North Macedonia cuts VAT on fuel to curb price surge
Turkey’s diesel tax buffer evaporates amid booming oil prices and refinery margins
Annual rise in diesel price reaches 57% versus 37% on gasoline.
US extends licence for Serbia’s NIS as global oil prices surge
Serbia’s sanctioned oil company NIS has secured a new special license from the US Department of the Treasury allowing it to continue operations until April 17, as global oil markets reel from the war in the Middle East.
Serbia cuts fuel excise duties by 60% to curb prices
Serbia will slash fuel excise taxes by a further 40%, bringing the total reduction to 60%, President Aleksandar Vucic announced on March 20, as global oil prices spike due to war in the Middle East.
Russia accuses Ukraine of trying to disable pipelines that deliver gas to Turkey, Hungary and Slovakia
Gazprom alleges 26 attack drones tried to reach compression stations vital to TurkStream and Blue Stream operations.
Slovak government curtails fuel sales
Slovak cabinet approved measures curtailing fuel sales on March 18. These include a cap on maximum sale of diesel fuel per vehicle at €400, while only 10 litters of fuel can be sold to additional fuel containers.
Serbia extends fuel export ban, releases diesel from reserves
Serbia has extended its ban on exports of crude oil and fuel products until April 2 and will release 40,000 tons of diesel from state reserves to shield the domestic market from rising global oil prices.
Croatia calls for swift EU action in response to energy pressures
Europe must act quickly to shield citizens and economies from energy shocks, drawing on lessons learned during Russia’s war in Ukraine, Croatian Prime Minister Andrej Plenković said on March 19.
Czech Vice PM Havlíček announces investments into Druzhba reverse flow to secure oil supplies for Slovakia
Czech Vice Prime Minister and the Minister of Industry and Trade Karel Havlíček announced his country is ready to invest into the reverse flow of the eastern Druzhba oil pipeline.
Strikes on Iran gas fields could force Turkey to ramp up LNG imports
Damage to Iran’s Asaluyeh gas processing facility in Bushehr province and part of the South Pars complex, after an Israeli missile strike on March 18, risks disrupting pipeline supplies to Turkey, potentially forcing Ankara to raise LNG imports.
Turkish plastics industry hit by Middle East conflict as supply chains break down
Logistics and polymer input prices soar.
New fuel pipeline between Slovakia and Hungary approved by cabinet in Bratislava
The Slovak cabinet approved the construction of a new fuel pipeline between Slovakia and Hungary.
KazTransOil expects to export 474,000 tonnes of crude via CPC in March
Kazakhstan’s state pipeline operator KazTransOil (KZ: KZTO) said it expects to export 474,000 tonnes of crude via the Caspian Pipeline Consortium (CPC) pipeline that runs to Russia's Black Sea coast in March.
Turkey emerges as revived route for Iraqi oil amid Hormuz crisis
Baghdad accelerates revamp of long-idle pipeline puy out of action more than a decade ago by bomb attacks.
TotalEnergies targets first gas from Absheron Phase 2 in 2029
TotalEnergies plans to begin production from the second phase of the Absheron gas-condensate field offshore Azerbaijan on September 1, 2029.
Hormuz crisis raises wider risks for Turkey far beyond oil prices, says policy brief
As well as an energy bill nightmare, country faces triple whammy in industrial production, agriculture and logistics.

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