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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Slovenia and Croatia agree gas interconnection capacity upgrade to boost regional supply
Serbia pessimistic on MOL-NIS deal as sanctions deadline nears
Serbia is pessimistic about securing a deal with Hungary’s MOL to take over the majority Russian stake in oil company NIS before a key US sanctions deadline, President Aleksandar Vucic said on May 20, warning that talks were not progressing well.
Bulgaria’s Lukoil administrator urges state buyback of Burgas refinery
The state-appointed administrator overseeing Bulgaria’s Lukoil assets has said the government should consider buying back the country’s only oil refinery, calling it a “historic opportunity”.
Europe may regret burying Groningen
Europe’s gas crisis is reopening the debate over whether Groningen should stay closed.
EU members discuss ramping up oil and gas production to safeguard energy security
EU energy ministers have discussed ways to increase domestic oil and gas production as the bloc tries to strengthen energy security while preserving its long-term climate goals.
OMV kicks off production at Austria's biggest gas find in four decades
Austria’s national oil company OMV has started production at Wittau, the country’s largest natural gas discovery in four decades, in a project the company says could double its domestic gas output once fully developed.
China's Wison starts topsides for third phase of Turkey's Sakarya field
China’s Wison New Energies has started fabricating the topsides for the floating production unit that will serve the third phase of Turkey’s Sakarya gas field development, marking a further step forward for the Black Sea project.
Equinor strikes five-year deal with Energo for German gas supply
It is the latest in a series of long-term contracts that have strengthened Norway’s role as Germany’s main replacement for Russian pipeline gas.
Kazakhstan’s Kashagan oilfield to suspend production for maintenance
Kazakhstan’s Kashagan oilfield, the country’s second-largest oil producer, is reported to be set to halt production for over four weeks beginning in June to conduct planned maintenance work.
BP to focus on increasing its LNG trading
British supermajor BP has plans to expand its LNG trading and will dismantle its pipeline gas trading team.
Serbia awards Hungary oil pipeline contract to MVM-led consortium
Serbia’s state-owned oil pipeline operator has awarded a contract for the construction of a key crude oil pipeline linking the country with Hungary to a consortium led by MVM Južna Bačka.
Bulgaria gasoline prices hit highest since Middle East conflict began
Retail gasoline prices in Bulgaria have reached their highest level since the outbreak of war in the Middle East, rising to €1.51 per litre on May 15.
Ludoil Energy’s ISAB refinery deal strengthens Africa-Europe energy links
Italy-based private energy company Ludoil Energy has agreed to acquire a controlling stake in ISAB, owner of the Priolo Gargallo refinery in Sicily, Italy’s largest refinery and a key fuel supply hub in the Mediterranean.
Slovak PM Fico wants state oil company Transpetrol involved in buying Russian oil
Slovak populist Prime Minister Robert Fico wants the state oil company Transpetrol to be involved in the purchases of Russian oil.
Hungarian government releases motor fuel from strategic reserves to help smaller fuel stations
The Hungarian government has ordered the release of 575mn litres of fuel from strategic reserves to secure regulated fuel supply as small operators faced supply shortages due to price caps and depletion of reserves.
Turkey reportedly proposes building Nato fuel pipeline to Romania via Bulgaria
Turkey has proposed building a fuel pipeline to serve military needs of Nato that would connect Turkey to Romania via Bulgaria, Bloomberg on May 15 cited unnamed Turkish people familiar with the matter as saying.
Serbia to submit final NIS proposal to MOL as talks near deadline
MOL has been in exclusive talks to acquire a 56.15% stake in NIS from Russia’s Gazprom Neft and Gazprom, which are under pressure to divest following US sanctions imposed in 2025.
Turkey seeks higher Kazakh oil flows to Mediterranean via BTC
Turkish President Recep Tayyip Erdogan has said Turkey wants greater volumes of Kazakh oil to reach global markets through the Baku-Tbilisi-Ceyhan (BTC) pipeline.
Serbian tycoon Karić signals interest in NIS as takeover race widens
Serbian businessman Bogoljub Karić has signalled interest in acquiring a stake in Naftna Industrija Srbije, becoming the latest potential bidder as uncertainty grows over the future ownership of the energy firm.
Lavrov accuses US of seeking to expel Russian oil firms from global markets
Russian Foreign Minister Sergey Lavrov has accused the United States of “deliberately pushing” Russian oil companies out of international markets, including by seeking to take over Rosneft's cooperation with Venezuela.
Serbia dissatisfied with MOL’s revised NIS offer, talks to continue
Revised offer failed to address concerns over the Pancevo oil refinery and its role in supplying the domestic market, Energy Minister Dubravka Dedovic Handanovic said.
BP joins SOCAR-led PSA, agreement is British giant's first upstream Uzbekistan deal
British oil and gas giant BP has entered Uzbekistan’s upstream energy sector for the first time, joining a production sharing agreement (PSA) for six exploration blocks in the country’s remote northwestern Ustyurt region.
Hungary resumes diesel exports to Ukraine, as country faces depleting fuel reserves
Independent petrol stations warn of potential closures and regional shortages, after MOL's strategic diesel reserves run out and imports dry up following the introduction of the government's fuel price cap.
BP to divest shares in major UK CCS projects
BP announced on May 7 it planned to sell stakes in two major UK carbon capture and storage projects, as oil majors continue to trim spending and bring in partners for capital-intensive low-carbon developments.
Why windfall taxes don't work
As Europe reels from the Hormuz crisis, growing calls for windfall taxes on oil and gas companies are colliding with fears that such measures could deepen the continent’s dependence on volatile energy imports.

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