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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Italy’s Saipem wins $1.5bn contract to continue development of largest Turkish offshore gas field Sakarya
Saipem has secured a $1.5bn contract to continue the development of Turkey's largest offshore natural gas field, the Italian engineering group said on September 10.
Bulgaria backs Vertical Gas Corridor with €127mn state guarantees
Bulgaria will provide nearly BGN250mn in state guarantees to fund the Vertical Gas Corridor, a strategic project aimed at strengthening regional gas supply.
Hungary seals landmark long-term gas deal with Shell
Turkish companies announce LNG import deals
Turkish state energy company BOTAS and BP have signed a three year liquefied natural gas (LNG) purchase agreement.
UK North Sea at centre of political battle
The UK’s North Sea oil and gas sector has become a flashpoint in political debates over energy security and climate transition, with Labour seeking to curb new licences and the Conservatives pushing for expanded extraction.
Shell strikes 10-year LNG deal with Hungarian utility
Shell has concluded a 10-year contract to supply Hungary’s state-owned utility MVM with around 200 mcm of natural gas annually, starting in January next year.
Norwegian Greens gain leverage on oil and gas policy after election result
Norway’s Green Party is pushing for a halt to new petroleum exploration and a full phase-out of oil and gas by 2040, but Prime Minister Jonas Gahr Støre has pledged that the country will remain a dependable supplier to Europe.
Hungarian foreign minister says Budapest has no other choice but to buy Russian oil
A tale of two majors
BP has been unable to sell its stake in Rosneft despite pledging to leave Russia in 2022, while ExxonMobil, forced out of Sakhalin-1 the same year, may now be invited back under new Kremlin rules.
OMV to cut 2,000 jobs globally, including 1,000 at OMV Petrom
Austrian energy group OMV plans to eliminate 2,000 positions from its global workforce of 23,000, with nearly half of the cuts affecting its Romanian subsidiary OMV Petrom, (BVB: SNP).
Putin aide Patrushev weighs in on Nord Stream blasts
He was renewing Moscow’s consistent criticism of Western investigations into the September 2022 blasts that damaged the Nord Stream 1 and 2 gas pipelines.
Italy seeks fuel supply guarantees from Azerbaijan amid refinery sale
Italy has asked Azerbaijan’s government to provide guarantees of continued fuel supplies in the event of a sale of Italiana Petroli (IP)’s refinery, Reuters reported on September 5, citing unnamed sources.
UK-Brazil team develops flexible subsea inspection robot
Engineers in the UK and Brazil have developed a tentacle-like underwater robot designed to transform how subsea pipelines and offshore structures are inspected, providing a safer and more precise alternative to rigid systems.
Profits of Budapest-based alternative energy group tumble as rising costs overshadow revenue growth
Hamburg Port Authority approved for ship-to-ship LNG bunkering
The Hamburg Port Authority has received approvals to begin ship-to-ship bunkering of low carbon fuels LNG and methanol.
UK firm proposes new Canadian LNG terminal in Newfoundland
London-based Crown LNG Holdings is attempting to woo the Canadian government to support a proposed $15bn LNG terminal in the country’s east province Newfoundland and Labrador.
Hungary's Russian crude imports reach record levels in H1
Germany’s DET launches second Wilhelmshaven floating LNG terminal
State-owned Deutsche Energy Terminal has begun commercial operations at its second Wilhelmshaven LNG terminal.
Turkey’s natural gas imports up 37% y/y in June
Turkey’s natural gas imports rose by 36.9% y/y in June, reaching 3.17bn cubic metres (bcm), the Energy Market Regulatory Authority (EPDK) said on August 27.
Druzhba oil flow to Slovakia is renewed following another halt
The Slovak Minister of Energy said the oil flow was renewed and expressed hope that the supplies will be stable.
UK's Serica lifts first oil from Triton FPSO after restart
UK-focused oil company Serica Energy said on August 25 it had completed the first lifting of oil from the Triton floating production, storage and offloading unit in the North Sea.
Reach Subsea scores job at Woodside's Scarborough project off Australia
Norwegian subsea services provider Reach Subsea said on August 26 ii had deployed its uncrewed surface vessel Reach Remote 2 to Australia.
Bilfinger scores North Sea deal with BP
German industrial services provider Bilfinger said on August 26 it had secured a contract to deliver inspection services across all of BP’s North Sea assets, expanding its role with the UK energy major.
Norway's Var Energi reaches its 400,000 boepd milestone ahead of schedule
The company said it remains on course to deliver about 430,000 boepd in the fourth quarter of this year as it executes on its growth strategy.
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