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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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.
Serbia to build two new gas pipelines by 2028
The planned pipelines will connect Serbia to North Macedonia and Romania, complementing the Balkan Stream gas pipeline and the Serbia-Bulgaria interconnector, which links the country to the TANAP pipeline and the Southern Gas Corridor.
Slovenia’s Petrol proposes higher dividend amid strong 2024 performance
The Management Board of Slovenian fuel retailer Petrol said on April 9 that it will propose a gross dividend of €2.1 per share for 2024, a rise of nearly 17% compared to last year.
OMV and Eko halt fuel purchases from NIS amid sanctions uncertainty
Austrian energy group OMV and Greek-owned Eko have ceased purchasing refined fuel from the Oil Industry of Serbia, despite repeated delays in US sanctions.
Deutsche ReGas launches bidding round for expansion of Mukran FSRU capacity
Deutsche ReGas has opened a three-month bidding round for the expansion of the Mukran floating storage and regasification unit’s capacity.
US interim envoy flags energy diversification as key priority for Orban government in first public address
In his first public appearance in Budapest, US chargé d'affaires Robert Palladino stated that American diplomacy under a Trump administration would steer clear of "activism".
Environmental NGOs flag up methane emissions in Croatia
Research by Greenpeace Croatia and the Clean Air Task Force released last week sought to expose Croatia as a leading EU emitter of methane emissions from oil and gas infrastructure.
BP chairman resigns amid strategic reset
Helge Lund, who has served as BP's chair since 2019, has announced his intention to step down following mounting shareholder pressure against the company's green energy strategy.
Italy's Snam eyes greater stake in Germany's top gas TSO
Italian gas infrastructure company Snam is contemplating expanding its ownership further in Open Grid Europe, Germany's largest independent gas transmission operator.
Europe sees wave of oil refinery closures
European refiners, caught between greener policies at home and fierce competition abroad, are increasingly choosing to downsize and reinvent their operations, or risk disappearing.
Europe starts ramping up gas storage volumes
Europe is now putting natural gas in storage following the end of the winter heating season, ahead of stringent EU refill targets over the summer that member states are pushing to make more flexible to avoid high costs.
Serbia begins expansion of key gas storage facility
Serbia has commenced the expansion of its sole natural gas storage facility in Banatski Dvor, located in the northeastern part of the country.
Serbia hires lobbying firm in US amid sanctions on NIS
Serbia has enlisted the services of lobbying firm BlackSummit Capital to help navigate US sanctions imposed on its sole oil company, Naftna Industrija Srbije (NIS).
Croatia’s Janaf proposes €28.81 dividend per share for 2024
Croatian oil pipeline operator Janaf has proposed a 2024 dividend of €28.81 per share, slightly lower than last year's €30.95, as reported by Zagreb Stock Exchange on April 7.
Turkey’s energy minister receives European Commissioner for energy
Turkey’s energy minister Alparslan Bayraktar on April 3 received European Commissioner for Energy and Housing Dan Jorgensen at Turkey’s energy ministry in Ankara, the minister (@aBayraktar1) wrote on X.
Breaking energy ties with Russia cost EU €1.3 trillion, says Vedomosti
In an extensive review of data, Moscow-based business daily Vedomosti has sought to estimate the high cost that the EU paid for breaking its energy ties with Russia.
OPINION: Europe eager to avoid swapping dependence on Russian gas for overreliance on US LNG amid Trump volatility
Europe is caught in a bind: unwilling to commit to gas in the long term, but still heavily reliant on it in the short term; eager to reduce Russian influence, but wary of handing leverage to Washington.
Oil falls 3.75% amid global trade war recession fears
Oil prices fell 3.75% on April 7, continuing last week's losses, as escalating trade tensions between the United States and China fuelled fears of an economic recession that could reduce crude demand.
Kazakhstan avoids oil disruption as Russian court allows CPC terminal to operate fully
A Russian court has permitted the Caspian Pipeline Consortium (CPC) to continue loading crude oil from all three of its berths at the Black Sea export terminal located near Novorossiysk, averting a potential disruption to Kazakhstan’s oil exports.
Saudi Arabia’s frustration with Kazakhstan drives shock OPEC+ supply hike
Saudi Arabia’s mounting frustration with Kazakhstan and other quota-non-compliant oil producers reportedly triggered a surprise decision by the OPEC+ group to boost oil supplies, with little appetite to reverse course even if prices fall further.
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