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 says it would veto EU’s Russian oil embargo in current form
Budapest still blocking EU consensus despite being offered extension until end of 2023.
Czechs join Slovakia and Hungary in demanding exemption from EU embargo on Russian oil
Heavily-dependent states will be allowed to buy Russian oil exports until the end of 2023, while other states have to cease crude deliveries in six months.
TotalEnergies reports first-quarter profit
France’s TotalEnergies has posted a profit for the first quarter of 2022, despite a $4.1bn impairment that was attributed to its business in Russia.
Russian senator says embargo will lead EU countries to buy Russian oil via third parties
A Russian legislator has said that he expects Europe to continue buying crude oil from Russia even if it imposes an embargo on imports.
Bulgaria to seek temporary exemption from full EU embargo on Russian oil, deputy PM Vassilev says
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.
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