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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Global gas flaring drops 3% in 2022
The global oil and gas industry managed to reduce gas flaring by 3% last year to 139 bcm, from 144 bcm in the previous year, the World Bank reported on March 29 in its new Global Gas Flaring Report (GGFR), despite oil output rising by 5% to 80mn bpd.
Hungary seeks out Azeri gas via Southeast Europe
Hungary is teaming up with Bulgaria, Romania, Greece and Turkey to look at options for securing natural gas from Azerbaijan via Southeast Europe, Foreign Affairs and Trade Minister Peter Szijjarto has said.
MOL board proposes record dividend to shareholders
EC welcomes proposals to block Russian LNG imports
Finland receives first LNG cargo at new terminal
The cargo arrived on board the Vivit Americas LNG tanker from the US. It was bought by Estonia’s Elenger and sold by commodity trader Vitol, which procured it from the Venture Global-operated Calcasieu Pass terminal in Louisiana.
Turkey to bring Black Sea Sakarya gas ashore in coming weeks
Turkish Energy Minister Fatih Donmez said natural gas from the Black Sea offshore Sakarya gas field would soon be landed in Turkey and utilised by 21 April.
OPEC+ announces surprise output cut
OPEC and several of its partners in the OPEC+ group made a surprise announcement over the weekend, declaring that they would make a voluntary oil production cut of 1.15mn barrels per day, which will run until the end of the year.
Estonian Elenger to enter Latvian gas supply market
Hungary raises gas security reserves to avoid €1.8bn loss
Hungary booked the contract at peak prices in August, which would mean the state-owned Hungarian Hydrocarbon Stockholding Association would incur a €1.8bn loss unless the gas was taken into reserves.
Hungary opposes EU’s 15% gas reduction proposal
Lithuania welcomes limits on Russian gas
Serbia to increase electricity and gas prices on May 1
KazTransOil transports 10,000 tonnes of crude across Caspian Sea for BTC pipeline transit
EU countries agree to seek legal option to curb imports of Russian LNG
European Union countries have agreed to explore a legal avenue to prevent Russian companies from sending LNG to member states.
UK North Sea industry doubles down on criticism of windfall tax
The windfall tax imposed on the UK North Sea oil and gas industry last year will result in 500mn boe being left in the ground over the next decade that would otherwise have been developed, equal to one year of output in the basin.
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