EurOil - Europe Oil & Gas

Greece's Alexandroupolis FSRU starts back up

Greek gas company Gastrade has resumed operations at its floating LNG terminal in Alexandroupolis after a technical fault forced a shutdown earlier this year.

Seatrium, Karpowership pen letter on converting LNG carriers into FSRUs

Singapore’s Seatrium has signed a letter of intent with Turkish floating power plant company Karpowership to expand their partnership into new floating energy projects.

UK offers gas storage licence to Snam unit

The UK’s North Sea Transition Authority has awarded a gas storage licence in the East Irish Sea to dCarbonX, a subsidiary of Italian infrastructure group Snam.

Norwegian oil and gas investment on track to peak this year

Norway’s oil and gas investment is set to peak in 2025 before falling back next year as a wave of major projects draws to a close.

Centrica to acquire Isle of Grain LNG terminal in $2bn deal

Centrica announced last week it would buy the UK’s Isle of Grain LNG terminal in Kent with US private equity firm Energy Capital Partners for $2bn.

Ukraine drone strike knocks out Russian oil supply to Hungary, Slovakia

Hungary and Slovakia are the only EU member states still heavily reliant on Russian crude.

Hungarian oil company MOL says supplies secure after drone attack on Druzhba pipeline

Hungary’s foreign minister Peter Szijjarto called the strike “unacceptable and shocking”, claiming it was the latest in a series of Ukrainian actions targeting Hungary’s energy security since the outbreak of the war.

UK’s Centrica buys Grain LNG terminal

British energy firm Centrica has agreed to purchase the UK’s largest LNG terminal, Grain LNG from electricity and gas utility National Grid for GDP1.7bn.

Serbia’s NIS is preparing for a state of emergency

Employees at Serbia’s state-linked oil and gas company, Naftna Industrija Srbije (NIS), have been instructed to prepare for operations under potential emergency or wartime conditions, according to an internal memo obtained by local news agency Beta.

Turkish-Azerbaijani consortium leads race for Lukoil’s Bulgarian assets

A consortium comprising Azerbaijan’s state energy company SOCAR and Turkey’s Cengiz Holding has emerged as the preferred bidder for the Bulgarian operations of Russia’s Lukoil.

Bulgaria’s Uni Energy to acquire NIS petrol network for over €30mn

NIS, majority-owned by Russia’s Gazprom and its subsidiary Gazprom Neft, is divesting its Bulgarian assets amid increasing pressure from secondary US sanctions.

Kazakhstan weighs Baku–Supsa pipeline option to diversify oil exports

Kazakhstan is exploring the possibility of transporting crude oil through the Baku–Supsa pipeline corridor running from Azerbaijan to the Georgian Black Sea coast as part of its strategy to expand export routes.

Asia drives global refining capacity growth

Global refining capacity is rising despite a decline in the number of refineries, with Asia and the Middle East leading growth through large, integrated projects.

Circle K obtains Astarte-nafta fuelling stations in Latvia

European refineries get margin boost from low global diesel inventories

Low global diesel inventories are keeping refining profits elevated across Europe.

Finland charges crew of suspected Russian shadow fleet tanker for subsea cable damage

Finland has filed criminal charges against the captain and two officers of the Eagle S oil tanker, accused of damaging five undersea cables in the Gulf of Finland last December.

BP eyes restart of UK's mothballed Murlach oil and gas field

BP plans to restart production at the Murlach field in the North Sea, aiming to extract oil and gas for at least a decade.

Norway officially opens Castberg oilfield in Barents Sea

Norway on August 8 officially opened the Johan Castberg oil field in the Barents Sea, the country’s northernmost producing field and its second oil development in the Arctic region.

Norway announces new frontier oil and gas licensing round

It follows the completion of the previous frontier round four years ago.

Bulgaria finds a buyer for Gazprom petrol stations

Bulgaria’s Win Energy, the operator behind the Avia brand of fuel stations, is set to acquire the network of Gazprom-branded petrol stations owned by Serbia’s oil company NIS.

EU gas storage exceeds 71% capacity

EU underground gas storage sites held around 77bn cubic metres of gas as of August 9, or 71.29% of capacity.

ICGB secures permit for expansion of Greece-Bulgaria gas interconnector

The operator of the Greece-Bulgaria gas interconnector, ICGB, said on August 8 it has obtained a construction permit from Bulgarian authorities for Lot 1 of its capacity expansion project.

Hong Kong’s CK Infrastructure closes in on acquiring UK’s Grain LNG terminal

Hong Kong-based CK Infrastructure is the frontrunner to acquire Grain LNG import terminal from the UK’s National Grid.

Lower energy prices weigh on MOL’s earnings in Q2

Montenegro may store oil reserves abroad due to lack of local capacity

Montenegro’s government plans to store its mandatory oil reserves in privately owned reservoirs or abroad, as state-owned facilities in Bar are not yet ready, according to the Oil Reserves Formation Plan for 2025, adopted last week.