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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North Sea oil industry warns of ongoing impact on windfall tax
In an effort to stabilise the UK's finances and address the cost of living crisis, the government decided to increase a windfall tax on oil and gas producers' profits last year.
Norway reopens Njord field after extensive upgrades
Norway’s state-owned Equinor announced on May 15 the official reopening of the Njord oilfield in the Norwegian field following extensive upgrades, with the project expected to yield around 250mn barrels of oil equivalent over the next two decades.
Retired US admiral warns international community will have to respond to Iran seizing tankers
Tehran grabs three vessels in 19 days from Gulf waters.
EU takes aim at Indian fuel supplies produced from Russian oil
EU foreign policy chief Josep Borrell has urged the bloc to prevent India from reselling Russian oil to Europe as refined fuel, including diesel, in an interview with the Financial Times on May 16.
Croatia’s INA restarts Rijeka refinery
Croatia’s oil and gas company INA has put the Rijeka oil refinery back in operation after a five-month closure that saw the facility go through a number of renovations that are part of a project to revamp and modernise the entire facility.
Israel considers gas link to Cyprus as ministers discuss LNG plan
East Mediterranean gas sources Israel and Cyprus are holding discussions this week to look at the possible construction of a gas pipeline from Israeli gas fields to Cyprus, where a newbuild LNG export facility would be constructed.
Eni takes Gazprom to court over lost gas supply
Italy's Eni has launched international arbitration proceedings against Russia’s Gazprom over its consistent reductions in pipeline gas supply, the company revealed in a document responding to a shareholder question last week.
EU looks to better implement measures targeting Russian energy in upcoming 11th sanctions package
The EU continues work to hash out an 11th sanctions package on Russia in response to its invasion of Ukraine, which will require the approval of all 27 member states to be finalised.
MOL’s Q1 earnings retreat as energy price ease
Serbia to build new oil pipeline with Hungary, new gas pipeline with Bulgaria
Hungary and Serbia have reached an agreement to construct a new oil pipeline that will add to the transit of Russian oil from the Druzhba pipeline to Serbian consumers, said Hungarian Minister of Foreign Affairs Peter Szijjarto.
Chevron spuds appraisal well in Cyprus Aphrodite field
US energy giant Chevron has spudded an appraisal well in the Aphrodite field offshore Cyprus. Discovered by Noble Energy in December 2011, the Aphrodite field has an estimated gas resource of 4.5 trillion cubic feet.
Democrats raise concerns with Biden administration over climate impact of LNG
Over 40 Democrat lawmakers have asked the Biden administration to more carefully analyse the climate and environmental justice impacts of the expansion of the LNG industry across the country.
RWE planning to exit controversial Ruegen LNG terminal
German utility RWE AG is leaning towards exiting the controversial LNG project on the Baltic Sea island of Ruegen following the emergence of political rows over the location of the terminal, Bloomberg reported on May 10.
EU lawmakers back methane emissions requirements for energy sector
Members of the EU Parliament voted on May 9 in favour of rules that would require operators of oil and gas infrastructure to cut their methane emissions, setting the stage for tough talks with member states with currently lax national rules.
Albania starts talks on new biogas law
The Albanian government has opened the consultation process on a law to promote the production and use of renewable energy sources for the transport sector through the use of biofuels for internal combustion engines.
Cerulean to build $25bn subsea grid in North Sea for offshore wind, oil and gas rigs
Cerulean Winds will build a $25bn subsea grid for offshore wind for oil and gas rigs in the central North Sea.
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