EurOil - Europe Oil & Gas

Turkey strikes new long-term agreement to import 33bcm of natural gas from Azerbaijan

Turkey has struck a new long-term agreement under which it will import 33bn cubic metres (bcm) of natural gas from Azerbaijan, Turkish Energy Minister Alparslan Bayraktar said on January 4 in a televised interview.

Geopolitical volatility triggers OPEC+ retreat to market neutrality

The leading factions of the OPEC+ alliance have opted to maintain current crude production ceilings

Poland's PERN strikes deal with Kazakhstan's KazTransOil on crude supplies

Poland’s oil pipeline operator PERN has signed an agreement on technical cooperation with Kazakhstan’s state pipeline company KazTransOil to support shipments of Kazakh crude to Germany.

MOL starts due diligence on Serbia’s NIS as US sanctions clock ticks

Hungary’s MOL has begun due diligence on Serbia’s Russian-controlled oil refiner NIS, as Belgrade pushes for a deal to lift US sanctions threatening the country’s fuel supplies.

Turkey’s Botas and Woodside agree to 9-year LNG deal

Turkish state-owned petroleum pipeline corporation Botas has signed a sales and purchase agreement with Australia’s Woodside energy.

US exports record 111mn tonnes of LNG in 2026

US shipped nearly 20mn more tonnes of LNG than its closest rival Qatar.

US grants NIS sanctions reprieve as Gazprom, MOL near deal

Serbia’s Russian-controlled oil refiner NIS can resume operations until January 23, easing supply pressures after sanctions halted crude imports.

Albania extends probe into Bankers Petroleum tax case

Europe's LNG imports surge to record 142bn cubic metres in 2025

Europe's LNG imports hit record 142bn cubic metres in 2025, up 28% from previous year, as continent continues reducing Russian pipeline gas dependence with December reaching 12.7bn cubic metres.

Serbia extends Russian gas deal to March, NIS talks continue

Serbia has agreed with Russia to extend its existing natural gas supply arrangement by three months until March 31, as uncertainty persists over the future of the country’s energy sector following US sanctions on its sole oil refiner.

Iran, Belarus move to implement oil cooperation deal

Iran and Belarus said their bilateral oil cooperation was moving into an implementation phase after officials reviewed practical steps to execute a joint oil memorandum of understanding.

Kazakhstan’s 11-month oil output and export figures show country on track to meet targets despite CPC disruption

Kazakhstan Deputy Energy Minister Sungat Yessimkhanov announced at a government meeting on December 17 that Kazakhstan’s oil output rose by 14.1% y/y to 91.9mn tonnes in the January-November period.

Oil tankers appear to be cleaving to Georgia, Turkey Black Sea coasts to cut risk of Ukraine drone attacks, says report

Oil tankers carrying Russian crude across the Black Sea appear to be cleaving to the Georgian and Turkish coasts to cut the risk that they will be targeted by Ukrainian sea drones, according to a December 18 report from Bloomberg.

MOL plans full restoration of fire-damaged refinery unit by Q3 2026

European Union expands sanctions against Russian shadow fleet with 41 additional vessels

European Union sanctions 41 vessels in Russia's shadow oil tanker fleet, bringing total designated vessels to nearly 600, as bloc maintains pressure on Russia's energy revenues and sanction circumvention efforts.

Kazakh pipeline operator KazTransOil opens branch office in Poland, first in EU

The board of directors of Kazakh state-run pipeline operator KazTransOil (KZTO) has authorised the opening of a branch office in Poland. The office is the company’s first official representation within the EU, the company said in a statement.

MOL signs upstream agreement with SOCAR

Slovenia’s Geoplin wins €185.2mn damages claim against Gazprom Export in ICC arbitration

An arbitral tribunal of the International Chamber of Commerce (ICC) has ruled that Russia’s Gazprom Export breached its contractual obligations towards Slovenia’s gas importer Geoplin during the period from June to December 2022.

CPC to speed up repairs of single point moorings at Black Sea oil export terminal

The Caspian Pipeline Consortium (CPC) will reportedly receive two new single-point moorings for its Russian Black Sea coast oil export terminal earlier than planned, with delivery now expected in January instead of April.

Kazakhstan expects ruling in Karachaganak arbitration case by end-2025

Kazakhstan reportedly expects a ruling before the end of the year in an arbitration case involving the international consortium developing the Karachaganak oil and gas condensate field.

Erdogan urges Russia, Ukrain to stop targeting Black Sea vessels

Turkish President Recep Tayyip Erdogan on December 15 urged Russia and Ukraine to stop targeting vessels on the Black Sea, addressing an event organised by Turkey’s foreign minister to bring together Turkish ambassadors in Ankara.

Hungary’s MVM Signs five-year LNG deal with Chevron

This deal follows an initial framework agreement reached during a Hungarian government delegation's visit to Washington last month, which set the stage for broader energy cooperation between the countries.

Belgium ramps up Russian gas imports in October

Belgium increased its purchases of Russian gas sharply in October, becoming the EU’s third-largest importer of the fuel from the country.

Serbia’s Vucic expects decision on NIS sanctions within days

Serbia’s President Aleksandar Vucic said on December 16 he expects “important and good news” in the coming days on US sanctions against Serbian oil company NIS, adding he hoped a decision would come before mid-January.

Croatia’s electricity, gas supply rise in October, statistics office says

Electricity and natural gas available for Croatia’s domestic market increased in October.