EurOil - Europe Oil & Gas

Union Jack receives non-binding takeover offer from fellow UK oil explorer Reabold

Union Jack Oil has confirmed it received a non-binding indicative offer from fellow London-listed junior Reabold Resources for a possible all-share takeover of the company.

NATO flags up Russian drone risks to Romania's Neptun Deep gas project

The concerns were discussed at a closed meeting of ambassadors from NATO’s 32 member states on June 10.

BP, SOCAR apply tech to boost recovery at Azerbaijan's giant ACG oil project

UK oil major BP and Azerbaijan’s national oil company SOCAR have outlined the technologies used to maximise recovery at the ACG oil project in the Caspian Sea offshore Azerbaijan.

Italy's Saipem announced sail-away for jacket for Neptun Deep gas project off Romania

The Italian engineering, drilling, and construction services company said the jacket had departed from its Arbatax yard in Sardinia after the completion of load-out operations.

Equinor and partners eye fourth phase at Norway's biggest oilfield

Equinor is preparing a fourth phase at Johan Sverdrup after appraisal drilling confirmed new oil volumes that could help sustain output from Norway’s largest producing field.

Kazakhstan to auction 30 exploration blocks with estimated 9bn BOE potential

Kazakhstan’s Ministry of Energy will reportedly auction 30 oil and gas exploration blocks on July 29, offering acreage with an estimated hydrocarbon resource potential of more than 9bn barrels of oil equivalent (BOE).

Turkey set to take $14bn hit from Hormuz crisis

Think tank Ember calculates cost to Ankara of energy shock caused by Iran war.

Turkmenistan would risk offending Russia for 30 bcm of Trans-Caspian gas, but likely not 10 bcm, says analyst

Turkmenistan would risk upsetting gas export rival Russia for a 30-bn cubic metre (bcm) Trans-Caspian Pipeline (TCP) but likely not for a 10-bcm TCP, according to an energy analyst.

Bulgaria secured Lukoil waiver in exchange for hosting US aircraft, former minister says

London court concludes hearings on Nord Stream insurance dispute

A London court has concluded hearings in a dispute over insurance payouts to the operator of the Nord Stream gas pipelines following the 2022 explosions in the Baltic Sea.

UK's EnQuest shifts its focus from homeland to Malaysia

UK-based EnQuest has agreed to acquire interests in four offshore production sharing contracts in Malaysia, in a deal that would more than double its production and shift most of its output to Southeast Asia.

Trading arm of Ukraine's DTEK receives US LNG at Dutch terminal

D.TRADING, the trading arm of Ukraine’s DTEK, has delivered a US LNG cargo to the Gate terminal in Rotterdam, expanding its role in Europe’s gas market.

Serica continues UK North Sea expansion

London-listed Serica Energy has expanded further in the UK North Sea, acquiring producing interests from Dutch player ONE-Dyas that will add around 2,500 barrels of oil equivalent per day to its portfolio.

Junior oil producer UKOG exits UK onshore

UKOG announced on June 12 it had agreed to sell its entire 85.6% interest in the Horse Hill oilfield and surrounding PEDL137 licence in Surrey, England, to Aquis-listed energy B for £1mn in cash.

Shell pauses $3bn buyback programme

Shell has paused its $3bn share buyback programme after the publication of ARC Resources’ shareholder circular triggered related securities law requirements.

Germany to launch fourth and final LNG terminal in September

Germany plans to commission a floating LNG regasification terminal at Stade in Lower Saxony in September.

Greece’s Atlantic-SEE LNG doubles purchase volume from Venture Global

Venture Global has agreed to double its supply volume to Atlantic-SEE LNG from its existing sales and purchase agreement.

MOL completes talks with Serbia on NIS sale

MOL Group has concluded negotiations with the Serbian government on a shareholder agreement related to the potential acquisition of a majority stake in Serbia’s Russian-owned oil company NIS.

Kazakhstan faces calls for higher oil exports amid supply concerns

Kazakh Energy Minister Yerlan Akkenzhenov said on June 10 that Kazakhstan is facing requests from international partners to increase crude oil exports despite production constraints linked to the OPEC+ agreement.

Serbia’s NIS seeks new US waiver to continue operations

Serbia’s oil company NIS has applied for a new special licence from the US Treasury’s Office of Foreign Assets Control (OFAC) to allow it to continue operating beyond June 16, when its current waiver expires.

BP announces corporate overhaul under new CEO

The move comes after Meg O’Neill, former boss of Australia’s Woodside Energy, became the company’s new CEO at the start of April.

Ukraine's Naftogaz strikes first long-term LNG contract

The agreement comes as Ukraine seeks to bolster its energy security ahead of next winter.

US EIA predicts gaping deficit in oil supply for full year

Supply will fall 7mn bpd, and demand by only 1mn bpd.

Italy set to spend $67bn on imported energy in 2026

Italy’s energy import bill is expected to rise sharply this year because of higher oil prices linked to the Middle East conflict.

EU proposes further sanctions on Russian energy and banking sectors

The proposed 21st sanctions package would pause adjustments to the G7 oil price cap mechanism until January next year to avoid market disruption following tensions in the Middle East and the temporary closure of the Strait of Hormuz.