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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Read a recent issue [click the image below]
Further evidence to come out about mysterious Finnish-Estonian gas pipe leak
Nordic and Baltic seismologists detected blast-like waves on October 8 – the day that a leak occurred along the Balticconnector gas pipeline linking Estonia and Finland, potentially strengthening the theory of deliberate action being the cause.
Europe's gas tank storage reaches an all-time high just before the winter's heating season starts
Total gas reserves in the European Union have surged to an all-time high just as the heating season begins, according to Gas Infrastructure Europe (GIE), an industry group representing European gas operators.
Croatia's electricity supply dropped 3.1% in August
IEA declares end to "Golden Age of Gas"
The energy crisis triggered by Russia’s invasion of Ukraine effectively marks the end of the 10-year Golden Age of Gas, the International Energy Agency said in its medium-term gas market report this month.
European gas prices soar to two-month high
European natural gas prices spiked last week, nearing levels not seen in two months, with the market in the grip of geopolitical concerns, renewed shortage fears and cold weather.
Price for European diesel may rise this winter due to supply pressures
Europe could face spiking prices for diesel this winter as it grapples with a shortage of diesel fuel and heating oil, largely due to the loss of its primary supplier, Russia, following the ban on Russian fuel imports to Europe.
BALKAN BLOG: Poor but green Albania is getting richer (but possibly dirtier)
Infrastructure investments and a booming tourism sector are already lifting Albania’s economy. Now it’s on the verge of a transformative oil investment.
EurOil: European gas prices take hit from Israeli conflict, closure of Balticconnector
Fitch upgrades largest Turkish refiner Tupras to four notches below investment grade
Finland says Balticconnector can be back in service in April 2024
Finnish system operator Gasgrid announced that it will take at least five months to fix the damaged section of the Balticconnector undersea gas pipeline between Estonia and Finland, meaning that it will not return to service before April next year.
US hits Turkey’s Ice Pearl, UAE’s Lumber Marine with sanctions for violating oil price cap
Nato threatens 'determined response' to possible Balticconnector sabotage
The damage to the pipeline has caused many to point the finger at Russia, which has also been accused of damaging the two Nordstream gas pipelines to Germany a year ago.
Lithuanian minister calls for additional protection for Baltic Sea pipelines
The sensitive subsea energy infrastructure needs even more protection following the 8 October Baltic Sea incident involving a gas pipeline between Finland and Estonia, Lithuanian Energy Minister Dainius Kreivys said.
European gas prices take hit from Israeli conflict, closure of Balticconnector
The conflict in Israel, coupled with the shutdown of the Balticconector pipeline linking Finland and Estonia, has triggered a spike in European prices, with the TTF front-month contract climbing this week to its highest point since August.
Azerbaijan eyes participation in restart of Bosnia’s Brod oil refinery
Azerbaijan is interested in participating in the restart of production of Bosnia & Herzegovina’s Brod oil refinery, said Petar Djokic, Energy and Mining Minister of Republika Srpska.
Indian diesel exports to Europe hit all-time high in September
India’s loading of diesel exports bound for Europe hit an all-time high in September as a result of traders looking to cash in on arbitrage profits to the West.
EC approves €400mn in state aid to Bulgargaz
The European Commission said on October 11 it has approved BGN800mn (€400mn) in state aid to the public supplier of natural gas in Bulgaria, Bulgargaz, in the context of Russian war in Ukraine.
Finland says subsea pipeline damage appears to be deliberate
Finnish media reported that the Finnish government and the Finnish Defence Forces suspect Russia attacked the Balticconnector gas pipeline.
France calls for methane rules to apply to oil and gas imports
Balticconnector pipeline between Estonia and Finland shut down due to gas leak
A possible leak put the Balticconnector gas pipeline between Estonia and Finland offline. The undersea pipeline experienced a pressure drop which prompted system operators on both sides to cut off the gas.
Var Energi to sell entire stake in mature Norwegian field
Var Energi has struck a deal with fellow Norwegian player Petrolia to divest its entire stake in a Northern North Sea field as part of its push to optimise its portfolio.
Shell sees gas-trading performance strengthen in Q3
With European demand for LNG remaining strong, UK major Shell enjoyed a rebound in earnings from its gas-trading operations in the third quarter, after taking a hit to that segment during the previous three-month period.
OMV Petrom says downstream recovered after maintenance in Q2
ConocoPhillips gets all-clear to start up Norwegian-UK gas field
Norwegian authorities have permitted ConocoPhillips to bring the Tommeliten gas field – which straddles the border between the Norwegian and UK sections of the North Sea – on stream. Production is due to start later this month.

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