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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Azerbaijan boosts istrategic energy posture with EU as South Gas Corridor and Green Energy Summits conclude in Baku
The meetings featured broad participation from officials representing Azerbaijan, the European Union, Central Asia and Southeast Europe.
Turkmenistan, Romania hold energy talks in Ashgabat
Turkmenistan and Romania held the eighth meeting of their joint working group on energy cooperation in Ashgabat.
UK's EnQuest reports falling production, revenue for 2024
UK oil and gas operator EnQuest reported falling production and revenue for 2024 in a financial update last week, while outlining a strategic push for growth in the UK North Sea and Southeast Asia in the year ahead.
Repsol, NEO Energy merge UK North Sea operations
Spanish oil major Repsol and private equity-backed NEO Energy plan to merge their UK North Sea businesses to form one of the largest independent oil and gas producers in the region.
BP eyes fuel retail sale in Austria
BP has launched a marketing process to sell its retail network, EV charging infrastructure and fleet operations in Austria, along with its stake in the Linz fuel terminal.
Norway's Castberg oilfield finally starts production
It is the second major oil project to come on stream in the country’s Arctic waters.
EU may stall Russian energy phase-out amid high prices, fear of overreliance on US LNG
The EU may fear the Trump administration could weaponise gas supply just as the Kremlin has.
Oil prices surge on Trump threat to slap tariffs on Russian oil
Should tariffs come into force, Russian flows to its key customers could drop, tightening supply and potentially prompting OPEC+ to act to stabilise the market, according to Rystad.
EU LNG imports rise 17% in March
LNG deliveries from European import terminals to the EU gas grid surged to an all-time high of 12.7 bcm in March.
MOL AGM approves massive dividend payout, equating to 9% dividend yield
Hungary’s MOL has announced plans for a HUF220.4bn (€560mn) dividend payout for 2025, as the oil and gas giant seeks to maintain shareholder returns despite earnings cooling from their 2022 peak.
Czechia to use new TAL-Plus oil pipeline this month
Czechia is to use oil flow from the new TAL-Plus pipeline which enhances the oil flow from the southwest route of TAL and IKL pipelines.
Hungary's MOL buys gas field from O&GD
Hungarian oil and gas giant MOL has acquired gas fields and related infrastructure owned by O&GD in southwest Hungary (Endrod), covering 1,000 square kilometres.
Bulgaria’s energy regulator lowers natural gas price for April by 14.3%
Bulgaria's energy and water regulatory body, KEVR, said it has approved a lower wholesale natural gas price of BGN75.08 (€38.4) per MWh for April, excluding transmission fees, excise tax and VAT, which is by 14.3% lower than in March.
Orlen forecasts PLN1.5bn net profit for 2024, with dividend policy unchanged
Orlen expects to post a net profit of PLN1.5bn (€360mn) for 2024, with net earnings before asset write-downs reaching PLN13.2bn, the company said in a market filing on April 1.
Gazprom to increase gas exports to Slovakia
Serbia advances key oil pipeline project with Hungary
The Serbian government has approved the construction of a critical oil pipeline connecting Serbia to Hungary, aiming to secure the country’s energy future amid the looming threat of US sanctions on its national oil company, NIS.
Northern Lights partners okay FID for offshore Norway CCS project
Equinor, TotalEnergies and Shell have agreed the final investment decision for phase two of the Northern Lights carbon capture and storage project, located in the North Sea west of the Norwegian port of Bergen.
Germany’s SEFE agrees to buy LNG from Delphin under 15-year deal
US LNG producer Delphin Midstream has signed a 15-year heads of agreement deal to supply 1.5mn tonnes per year of LNG to Berlin-headquartered Securing Energy for Europe.
Cracks appear in EU plan to adopt Japan-style LNG model
The European Union is in the midst of assessing whether to adopt a “Japanese model” of direct investment in LNG projects as the bloc grapples with high energy prices and low gas storage levels.
Croatia's INA appoints management board members
US postpones sanctions on Serbia's NIS for another 30 days
Negotiations have been ongoing between NIS representatives and US and Russian officials since the company was included in a broad package of US sanctions against Russia’s energy sector.
Panama revokes 128 ship registrations in crackdown on Russia and Iran’s shadow fleet carrying oil
Panama has intensified its crackdown on sanctioned vessels by revoking the registration of 128 ships, a move primarily targeting the "shadow fleet" facilitating oil exports from Russia and Iran.
Hungary anticipates receiving 8bn cubic metres of Russian gas in 2025
Hungary anticipates receiving 8bn cubic metres of natural gas from Russia via the TurkStream pipeline in 2025, according to reports from Russia's RIA news agency on March 28.
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