EurOil - Europe Oil & Gas

Bulgaria’s consumer protection body probes Lukoil fuel prices

Kazakhstan’s oil output drops 4% in May due to lower Tengiz production, remains above OPEC+ quota

Kazakhstan’s daily oil production fell by 4% in May compared to the previous month, driven largely by reduced output from the Tengiz oilfield, Reuters reported on June 2, citing an industry source familiar with the data.

Portuguese energy company eyes output surge from Brazil’s Bacalhau field

Portugal’s Galp expects its oil and gas output in Brazil to rise by around 40% in the coming years as production ramps up at the offshore Bacalhau field.

Turkey’s TPAO to sign Caspian Sea gas production deal with Azerbaijan’s Socar and BP

Ankara and Baku are taking further steps to boost oil and gas production in Azerbaijan with the signing of a major agreement, Turkish Energy Minister Alparaslan Bayraktar has announced.

Italy signs €4bn in agreements with Kazakhstan during Meloni visit to Astana

Italy and Kazakhstan signed a series of agreements totalling €4bn during an official visit paid by Italian Prime Minister Giorgia Meloni to Astana, with the deals covering sectors such as oil and gas, renewable energy and water management.

OPEC+ to raise output by 411,000 bpd as it seeks to punish Kazakhstan and Iraq for overproduction

OPEC+ on May 30 decided to raise output by 411,000 barrels per day (bpd) in July — mirroring increases for May and June — in a move that reassured traders who had feared a sharper supply boost that could have weighed on prices.

OMV sells stake in UAE's Ghasha project to Lukoil

Austria’s OMV has sold its 5% stake in the Ghasha offshore oil and gas concession in the United Arab Emirates to Russian oil major Lukoil.

MOL to take majority stake in Hungary's leading engineering university

Hungary's MOL is set to take majority ownership in the state-owned company running Budapest University of Technology and Economics, Hungary's most prestigious engineering institution, for HUF50bn (€120mn).

Kazakhstan tells OPEC it will not reduce oil production

Kazakhstan has formally notified the Organisation of the Petroleum Exporting Countries (OPEC) that it does not intend to reduce its oil production, Deputy Energy Minister Alibek Zhamauov has told Russia’s Interfax news agency.

Ranking shows refiner Tupras retains title of Turkey’s largest industrial enterprise

Turkish oil refiner Tupras has maintained its number one ranking in the Istanbul Chamber of Commerce’s (ISO’s) Top 500 Industrial Enterprises list thanks to Turkish lria (TRY) 651.6bn ($16.5bn) of production-based sales in 2024.

Slovak oil refiner will continue supplying Czechia after exemption from EU’s ban on Russian oil imports ends

Slovak oil refinery Slovnaft will continue supplying Czechia with diesel deliveries even after the exemption from the EU’s ban on Russian oil imports ends on June 5.

Poland warns of potential EU complaint over German refinery emissions

Poland’s Climate Minister Paulina Hennig-Kloska said a complaint to the European Commission against Germany remains an option over sulphur dioxide emissions from the PCK refinery in Schwedt, near the Polish border.

Turkey’s 4M25 gas imports from Russia via TurkStream, Blue Stream pipelines calculated as up 16% y/y

Is Kazakhstan guilty of “resource nationalism” in pursuing massive revenue claims against oil majors?

Efforts put into play by new generation of political elites “talk to ‘gut’ of people”, says one observer.

Czech Gas Storage CZ increased net profit to CZK3.6bn in 2024

The Czech state operator of natural gas storage sites, Gas Storage CZ, increased its net profit by more than 28% year on year to CZK3.6bn (€144.5mn) in 2024.

Romania’s Petrom and Romgaz to handle 18% of EU’s CO2 storage goal under decarbonisation plan

Romanian energy firms OMV Petrom and Romgaz have been assigned responsibility for capturing and storing 9mn tonnes of carbon dioxide by 2030 – amounting to 18% of the European Union’s 50mn tonne CO₂ storage target.

Germany backs call to sanction Nord Stream pipelines

Germany has expressed strong support for including the Nord Stream gas pipelines in the EU’s upcoming sanctions package against Russia, aiming to prevent any potential reactivation of the pipelines.

Norway projects record oil and gas investments in 2025

Norway has raised its forecast for oil and gas investments in 2025 to NOK269bn ($24.7bn), the highest figure since investment statistics began, driven largely by increased activity at producing fields.

UK populist party vows to reverse ban on North Sea drilling

UK right-wing populist party Reform UK has pledged to overturn the UK government’s ban on new oil and gas drilling in the North Sea as an immediate priority if elected.

Serbia extends Russian gas supply deal until end-September

The temporary extension announced just days before agreement was due to expire as Belgrade and Moscow negotiate a new long-term energy deal.

Istanbul-listed Tupras hikes wages by 35% for 1H and adds 24% for 2H

CPC resumes full operations after repairing damaged pumping station in Russia

The Caspian Pipeline Consortium (CPC) has confirmed that the Kropotkinskaya pumping station, damaged in a February drone strike, has been fully repaired and returned to service, Reuters reported on May 24.

Hungary’s power imports sink to 12-year low as fossil fuel and solar output surge

Hungary’s reliance on electricity imports dropped to its lowest level in more than a decade last month, as rising domestic energy production and record-breaking solar output reshaped the country's energy landscape.

INTERVIEW: Revamping oil and gas learning

The University of Calgary, located in Canada’s oil and gas heartland of Alberta, will relaunch its oil and gas engineering major this September, after suspending the programme in 2021 because of dwindling enrolment numbers.

BLOG: Efforts to tackle methane emissions continue, despite Trump’s regulatory rollback

Momentum behind improved methane monitoring, quantification and mitigation continues to build in the US – even without the same regulatory pressure.