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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Crude prices climb by 5% amid Trump tariffs & OPEC+ output cuts
Crude oil prices have increased by 5%, pushed by US sanctions on Iran that were aimed at damaging ‘teapot’ refineries in China, and additional output cuts from the Organisation of the Petroleum Exporting Countries and its allies (OPEC+).
Equinor’s Hammerfest LNG terminal goes offline until July for maintenance
Norway’s state-owned Equinor has shut down its Hammerfest LNG terminal until July for annual maintenance.
EU mulls easing methane rules for US LNG
The European Union could take action to make it simpler for US LNG imports to meet the bloc’s methane emissions requirements.
Turkey’s Tupras orders Nigerian crude in boost for Nigeria’s oil exports
Turkey’s largest oil refinery, Tupras, placed significant new orders for Nigerian crude oil for delivery between March and April, providing a major boost to Nigeria’s oil export ambitions at a crucial time for its 2025 fiscal planning,
Canada weighs building new LNG export terminal on Hudson Bay
Canadian officials are mulling the possibility of building an export terminal on Hudson Bay to enable LNG to be shipped easily year-round to markets in Europe.
Czechia reports the first day in its history of being free of Russian oil
Prime Minister Fiala declared his country Russian oil-free after April 17 became the first day when no oil from the latter flowed into Czechia for the first time in its history, and his country has become independent of the eastern Druzhba pipeline.
Azerbaijan's SOCAR, Israel's Union Energy form Malta JV
Azerbaijan’s state oil company SOCAR and Israeli firm Union Energy & Systems have established a joint venture in Malta to engage in natural gas development and production.
Bulgaria grants offshore oil, gas exploration contract to Shell
Bulgaria’s Ministry of Energy has signed a contract with Dutch-based Shell Exploration & Production for oil and gas exploration in offshore Block 1-26 Khan Tervel, located in the country's exclusive economic zone in the Black Sea.
Czech Republic hails its independence from Russian oil
Neighbouring Hungary and Slovakia meanwhile have no intention of ditching Russian crude.
Woodside, Uniper strike LNG supply deals
Australia’s Woodside Petroleum has entered into LNG sale and purchase agreements with Germany’s Uniper for the supply of up to 1mn tpy from Louisiana LNG, as well as up to 1mn tpy from its global portfolio.
Turkey’s Tupras reportedly resumes Russian Urals crude purchases as oil cost falls below price cap
Number one Turkish oil refiner Tupras has reportedly returned to buying Russian Urals crude cargoes amid falling world oil prices.
UK shortlists hydrogen projects in second funding round
The UK government aims to deliver up to 10 GW of low-carbon hydrogen production capacity by 2030, with at least half consisting of green hydrogen and the rest blue hydrogen.
IEA projects 25% growth in Europe's LNG imports this year
The IEA has forecast a 25% year-on-year increase in European LNG imports in 2025, driven by reduced pipeline deliveries and rising domestic demand across the continent.
Wood gets second, much smaller takeover bid from Sidara
Troubled UK engineering firm John Wood Group has received a renewed takeover proposal from Dubai-based Sidara, which includes a conditional offer valuing the company at approximately GBP242mn.
Russian captain in court over North Sea collision
The Russian captain of a cargo vessel involved in a fatal collision in the North Sea has appeared before a London court accused of gross negligent manslaughter.
US energy envoy urges Europe to lock in long-term LNG deals with American suppliers at Budapest LNG summit
The United States is ramping up diplomatic efforts to expand its liquefied natural gas exports to Europe, with a clear objective of regaining energy dominance on the global stage.
EU ends heating season with three-year low in gas storage volumes
The EU closed the 2024/25 heating season with just 37.2bn cubic metres of gas in underground storage, marking its lowest end-of-season level since 2022, according to data from Gas Infrastructure Europe.
ExxonMobil’s Electra well offshore Cyprus proves a disappointment
Cyprus has once again been disappointed in its offshore gas exploration programme as the Electra well in Block 5 is reported to have shown signs of gas, but nothing commercial. Operator ExxonMobil will now move on to drill a new well in Block 10.
Managing methane emissions in the Trump era: interview
Beyond an earnest desire to minimise the environmental impact of operations, it also pays for investors to take the issue seriously, Clayton Nash, the director of emissions solutions at Colorado-based Tegre, tells Newsbase.
Kazakhstan holds talks with oil producers on meeting OPEC+ output targets
Kazakhstan has been in discussions with oil producers operating in the country about reducing output after exceeding its OPEC+ production quota for several consecutive months.
Kazakhstan oil export pipeline operator delays station restart after drone attacks
CPC, which operates by far the most important export route for Kazakhstan’s oil, has delayed the restart of its Kropotkinskaya pumping station in southern Russia until the end of May.
Hungary's Viktor Orban discusses energy issues with Erdogan in Ankara
Hungarian Prime Minister Viktor Orban met Turkish President Recep Tayyip Erdogan for bilateral talks in Antalya, which focused on energy issues and developing bilateral economic, military and defence cooperation.
Turkey's industrial output contracts 1.6% m/m in February, likely positive effects of lower oil prices ahead assessed
Turkey's industrial production contracted 1.6% m/m in February on a seasonally and calendar-adjusted basis, official data shows.
COMMENT: Could the US strike a deal to restart Nord Stream gas pipeline?
US President Donald Trump has made it clear that he wants to do business with Russia and tap into its vast raw material resources. But restarting the Nord Stream gas pipeline is the only US-Russian business project that looks viable.
Gasoline prices in Turkey down 1% as Trump’s tariffs hit oil prices
Despite annual decline, gasoline price in Turkey still compares a few times higher than the seven liras seen in 2021.
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