EurOil - Europe Oil & Gas

JANAF and MOL sign crude oil transport deal

Croatia's state-owned oil pipeline operator JANAF said on August 6 it had completed a contract with Hungary's MOL Group for the transport of 2.05mn tonnes of crude oil through its pipeline system in 2026.

Turkey’s imports from Russia sink to lowest since May 2021 as energy trade reroutes

Turkey’s imports from Russia dropped 40.5% y/y to $2.1bn in July, falling to their lowest monthly level since May 2021, as energy trade appeared to shift toward other suppliers amid heightened security risks in the Black Sea.

Kazakhstan's July oil output falls on CPC export disruptions

Turkish refiner Tupras orders four tankers from Korea's Daehan, Samsung for $370mn

Company has also purchased a second-hand Aframax tanker undergoing work at a Chinese CSSC subsidiary for $90mn.

Russian gas heads for Iran via Azerbaijan, retracing a Soviet-era pipeline route

Russia and Iran are moving closer to implementing a long-negotiated natural gas agreement routed through Azerbaijan, retracing a Soviet-era pipeline corridor last used in the 1970s.

Serbia races to secure fuel supplies as historic Danube drought threatens imports and agriculture

Serbia is facing growing pressure on its energy and agricultural sectors as record-low water levels on the Danube disrupt fuel imports and deepen concerns over the impact of a prolonged drought.

Russian LNG remains embedded in Europe

Russian LNG remained embedded in the EU’s supply mix in July even as Europe’s overall imports of the fuel fell to their lowest level in almost two years.

Norwegian Odfjell rig resumes Rosebank work after 106-day outage

Oslo-listed Odfjell Drilling’s Deepsea Atlantic semi-submersible has returned to operations at Adura’s Rosebank development after spending 106 days off hire following an equipment-handling incident.

Italy's Saipem, UK's Subsea7 clear key US antitrust approval

Italy’s Saipem and the UK’s Subsea7 have passed a key US antitrust milestone for their planned merger, although in-depth regulatory investigations in Europe and Australia remain obstacles to completing the combination.

BP enjoys doubling of profits in Q2 on high oil and gas prices

BP’s underlying second-quarter profit more than doubled to $5.73bn as higher oil and gas prices, stronger refining margins and improved trading helped new CEO Meg O’Neill accelerate an overhaul of the energy major.

UK's Enermech lands second major North Sea topside contract in months

EnerMech has secured its second major North Sea topside process-services contract in recent months, expanding a relationship with an unnamed offshore operator that has lasted more than 12 years.

Noble installs Kinetic gas valve on oil drillship

Global offshore oil contractor Noble Corporation has installed a stemless gate valve supplied by Kinetic Pressure Control on the Noble BlackHornet drillship.

Shell picks new head for low carbon business as it fast-tracks divestments of renewables

Faber previously headed Shell’s lubricants business in Europe, the Middle East and Africa.

ONE-Dyas awards module contract to Smulders to build gas platform module in Dutch North Sea

ONE-Dyas has awarded fellow Dutch firm Smulders HSM a contract to build and integrate a new compression module at the N05-A gas platform in the Dutch North Sea.

BP plans full exit from UK North Sea

CEO Meg O’Neill said the company has become “spread relatively thin” and owns too many assets to manage and fund competitively.

Oman's Petrogas targets first gas from UK North Sea in Q2 2029

Oman-based Petrogas is targeting first gas in the second quarter of 2029 from its proposed Abbey and Baker development in the UK southern North Sea.

Ankara urges Russia, Ukraine to ensure Black Sea safety after drone attack on Turkish vessel near Novorossiysk

Turkey on August 4 called on both Russia and Ukraine to uphold maritime safety in the Black Sea after a drone strike hit a Turkish owned vessel near the Russian port of Novorossiysk, seriously injuring three crew.

Poland's Orlen steps up renewables investment with new 216 MW hybrid solar and wind project

Poland's largest energy multi-utility Orlen said on August 4 its group had completed the acquisition of a 216 MW hybrid renewable energy project from, among others, Warsaw bourse-listed renewable energy construction company Onde.

Belgium imports only Russian LNG in July

Belgium imported all of its LNG from Russia in July as European and Asian countries compete for scarce supplies of the super-chilled fuel amid the Middle East conflict.

Greek vessel carrying Qatari LNG hit off coast of Oman

A Greek shipping line’s vessel GasLog Shanghai was stuck off the coast of Oman while exiting the Strait of Hormuz.

Italy is Europe’s top LNG importer in July as Rome hedges against volatile market

Europe’s largest LNG importer changed from the Netherlands in June to Italy in July.

Low Rhine water levels hurt German petrochemical output

Market participants have repeatedly said low river levels were restricting deliveries of raw materials and finished products with the Rhine water levels having severely disrupted naphtha and LPG barge transport, making it difficult to load vessels.

Kazakhstan weighs proposal to refine Russian crude oil

Kazakhstan is reportedly weighing a proposal to refine Russian crude oil at its domestic refineries. /

Gazprom-linked NIS sells Romanian fuel station network

Serbia’s NIS, controlled by Russian energy group Gazprom, has agreed to sell its entire stake in NIS Petrol Romania, which operates a network of 19 fuel stations in Romania, according to the Serbian company.

MOL CEO says fuel supply secured, but Hungary faces energy challenges

MOL's chief Zsolt Hernadi says Hungary has sufficient fuel supplies, but tight global markets and low Danube levels are creating new challenges for refinery operations.