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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BGN Energy acquires a 19.97% stake at Mediterra Energy Corporation of Canada, focused on Egyptian oil
Bulgaria secures EU approval for €16mn gas storage expansion
Gazprom subsidiary sues UniCredit over delayed Ust-Luga LNG project
RusKhimAlyans, a 50:50 JV between state-owned Gazprom and a private firm called RusGazDobycha, has filed a RUB45.7bn ($472mn) lawsuit against Italy’s UniCredit over its failure to fulfil obligations as guarantor of the Ust-Luga LNG project.
Poland resumes oil flow via Druzhba after fixing leak
Poland has resumed oil flow via the Druzhba system, pipeline operator PERN said on its website on August 8, following repair work to a damaged section of the pipeline.
German Baltic Sea LNG terminal sued by environmental group
German Baltic Sea LNG terminal, which is privately operated by Deutsche ReGas, has been sued by a German environmental group, Reuters reported on August 8.
Austria prepares for alternative gas routes as Ukraine will not renew contract with Gazprom
Ukraine has warned Austria that it will not renew its contract with Russia’s Gazprom next year once the agreement has expired, Ukranews reported on August 4, citing Deutsche Welle expert Andriy Gurkov.
European companies suffer €100bn hit from Russia operations, says FT
European companies that exited the Russian market following the invasion of Ukraine have collectively suffered losses surpassing €100bn, according to an analysis by the Financial Times
TotalEnergies takes full control of Total Eren to boost renewables portfolio
French multinational energy company TotalEnergies revealed on July 25 that it will acquire complete control of joint venture Total Eren.
OMV Petrom hires Saipem to build Neptun Deep offshore infrastructure for €1.6bn
Neptun Deep is Romania's biggest Black Sea offshore natural gas project, with total investments expected at €4bn.
Russian gas pipe flow hits seven-month high in July
Russian pipeline gas flows to Europe surged to a seven-month high in July, largely driven by record deliveries through the European section of the TurkStream pipeline, according to data analysed by S&P Global Commodity Insights on August 2.
Canada’s Trillion farms in to Turkish blocks
Canadian firm Trillion Energy has signed a deal to farm into three exploration blocks in south-east Turkey with a local explorer.
Romgaz resumes works at 430MW gas-fired power plant
Serbian NIS’ net profit drops 69% y/y in 1H23
NIS's financial results can be attributed to the prevailing macroeconomic challenges and market trends, including the decrease in oil and oil product prices, which had the most substantial impact.
ISTANBUL BLOG: Ordinary Turks take economic beating as media voices insist on positivity on country’s ‘new’ direction
Nagging questions such as what is the policy rate doing at 17.5% when the inflation forecast is 70% are largely ignored.
EurOil: RWE raises 2023 guidance for earnings
BP signs 10-year deal with OMV to supply LNG
British oil and gas major BP and Austria’s OMV agreed to a long-term sale and purchase agreement for LNG, the two companies announced on July 28.

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