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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Serbia cuts fuel excise duties by 60% to curb prices
Serbia will slash fuel excise taxes by a further 40%, bringing the total reduction to 60%, President Aleksandar Vucic announced on March 20, as global oil prices spike due to war in the Middle East.
Russia accuses Ukraine of trying to disable pipelines that deliver gas to Turkey, Hungary and Slovakia
Gazprom alleges 26 attack drones tried to reach compression stations vital to TurkStream and Blue Stream operations.
Slovak government curtails fuel sales
Slovak cabinet approved measures curtailing fuel sales on March 18. These include a cap on maximum sale of diesel fuel per vehicle at €400, while only 10 litters of fuel can be sold to additional fuel containers.
Serbia extends fuel export ban, releases diesel from reserves
Serbia has extended its ban on exports of crude oil and fuel products until April 2 and will release 40,000 tons of diesel from state reserves to shield the domestic market from rising global oil prices.
Croatia calls for swift EU action in response to energy pressures
Europe must act quickly to shield citizens and economies from energy shocks, drawing on lessons learned during Russia’s war in Ukraine, Croatian Prime Minister Andrej Plenković said on March 19.
Czech Vice PM Havlíček announces investments into Druzhba reverse flow to secure oil supplies for Slovakia
Czech Vice Prime Minister and the Minister of Industry and Trade Karel Havlíček announced his country is ready to invest into the reverse flow of the eastern Druzhba oil pipeline.
Strikes on Iran gas fields could force Turkey to ramp up LNG imports
Damage to Iran’s Asaluyeh gas processing facility in Bushehr province and part of the South Pars complex, after an Israeli missile strike on March 18, risks disrupting pipeline supplies to Turkey, potentially forcing Ankara to raise LNG imports.
Turkish plastics industry hit by Middle East conflict as supply chains break down
Logistics and polymer input prices soar.
New fuel pipeline between Slovakia and Hungary approved by cabinet in Bratislava
The Slovak cabinet approved the construction of a new fuel pipeline between Slovakia and Hungary.
KazTransOil expects to export 474,000 tonnes of crude via CPC in March
Kazakhstan’s state pipeline operator KazTransOil (KZ: KZTO) said it expects to export 474,000 tonnes of crude via the Caspian Pipeline Consortium (CPC) pipeline that runs to Russia's Black Sea coast in March.
Turkey emerges as revived route for Iraqi oil amid Hormuz crisis
Baghdad accelerates revamp of long-idle pipeline puy out of action more than a decade ago by bomb attacks.
TotalEnergies targets first gas from Absheron Phase 2 in 2029
TotalEnergies plans to begin production from the second phase of the Absheron gas-condensate field offshore Azerbaijan on September 1, 2029.
Hormuz crisis raises wider risks for Turkey far beyond oil prices, says policy brief
As well as an energy bill nightmare, country faces triple whammy in industrial production, agriculture and logistics.
Worley picked for Aphrodite FEED off Cyprus
Australia’s Worley has been selected by Chevron to provide front-end engineering design and procurement services for the Aphrodite gas field development offshore Cyprus.
US-Iran war knocks out 15% of TotalEnergies' global output
France’s TotalEnergies said disruptions linked to the escalating conflict in the Middle East have forced the shutdown or suspension of around 15% of its global oil and gas production.
German left-wing party calls for resumed Russian oil and gas imports amid energy crisis
A senior figure in Germany’s left-wing Bündnis Sahra Wagenknecht party has called for the resumption of Russian oil and gas imports.
Netherlands' Boskalis scores decommissioning contract from Shell in UK North Sea
The ageing oil and gas infrastructure of the UK North Sea is fuelling a growing wave of decommissioning activity.
Ukraine’s Naftogaz reportedly approaches OMV Petrom for Black Sea offshore gas partnership
Ukraine’s state-owned energy company Naftogaz is in early-stage talks with Romania’s OMV Petrom (BVB: SNP) over a potential partnership to develop an offshore gas field in the Black Sea.
Czech vice-PM says Prague can lead EU’s Druzhba pipeline inspection
Czech vice Prime Minister and Minister of Industry and Trade, Karel Havlíček of the populist Ano party has said Prague can lead the Druzhba oil pipeline inspection.
Hungarian MOL and Slovak Slovnaft file another complaint against Croatian Janaf
Hungarian energy group MOL and its Slovak subsidiary and the country’s key refinery Slovnaft, filed another complaint with the European Commission’s Directorate General for Competition against Croatia’s oil transporter Janaf.
Azerbaijan plans major ramp-up in gas, power exports
Why Europe's gas price cap plan will backfire
Brussels is again considering a cap on gas prices to shield consumers from soaring energy costs, but the policy risks weakening Europe’s ability to attract LNG cargoes just as the bloc faces a difficult storage refill ahead of next winter.
Greek tanker set to load Kazakh oil hit by object near CPC terminal
A Greek-flagged oil tanker, the Maran Homer, was reportedly struck by an unidentified object early on March 14 while it awaited instructions on entering the Caspian Pipeline Consortium (CPC) terminal at the Russian Black Sea port of Novorossiysk.
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