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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Europe proposes to ban all Russian oil imports by the end of the year
The EU will sanction all Russian oil imports, both crude and refined and both oil delivered by ship and pipeline, but the ban will be “phased in in an orderly way,” EU President Ursula von der Leyen told the European Parliament on May 4.
Brussels proposes full ban on Russian oil
In proposals for its sixth sanctions package, the European Commission will suggest a total ban on all Russian oil in addition to removing Russian broadcasters from the airwaves and disconnecting Russia's largest bank from SWIFT.
EurOil: BP attributes record quarterly loss to Russia exit
UK-listed super-major BP has posted a record loss of $20.4bn for the first quarter of 2022.
The likely impact of EU sanctions on Russian oil imports
The EU is mulling proposals for introducing a formal embargo on Russian oil imports, and Russia is already well-versed in embargo evasion techniques.
BP attributes record quarterly loss to Russia exit
UK-listed super-major BP has posted a record loss of $20.4bn for the first quarter of 2022.
Hungary sees energy security as top priority when weighing EU sanctions on Russian energy
OPEC+ unlikely to alter its course
Hungary 'to continue to oppose EU sanctions on Russian oil'
Zoltan Kovacs, Hungary’s State Secretary for International Communications, says Budapest remains opposed to proposals to ban the import of Russian crude oil and natural gas into the EU.
Bank reportedly bars Litasco from trading oil derivatives
Geneva-based Litasco, the trading arm of Russia’s largest privately owned crude producer Lukoil, has reportedly lost much of its access to global oil derivatives markets.
Aliyev: TAP pipeline to reach full capacity in 2022, could double later
Ilham Aliyev, the president of Azerbaijan, said on Friday, April 29 that the Trans Adriatic Pipeline (TAP) was on track to reach full capacity this year and would deliver 10bn cubic metres of natural gas to Italy.
OMV ready to pay for Russian gas in rubles
OMV Petrom tripled its profit in Q1
Czech petrochemical company Orlen Unipetrol posts more than 70% growth in revenues in 1Q22
Lithuanian and Spanish foreign ministers call for ‘immediate’ EU embargo on Russian oil and gas
Slovak government refuses to comment on speculation it will pay for Russian gas in rubles
Slovak Economy Minister Richard Sulik said the answer to this question would be made public "in due course".
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