EurOil - Europe Oil & Gas

Shell must pay Venture Global’s court fees following arbitration loss

Shell has been ordered by an International Chamber of Commerce panel to pay Venture Global’s court fees following its unsuccessful arbitration case.

US grants special licence for Bulgarian Lukoil units until April 2026

The US has issued a special licence allowing key Bulgarian subsidiaries of Russia’s Lukoil to continue operating until April 29, 2026, easing immediate concerns over fuel supplies as sanctions on Moscow tighten.

EXPLAINER: Lukoil scrambles to sell its international operations

Time is running short for Russia’s second-biggest oil producer to divest its vast international business, after it was hit with US sanctions that will soon render its assets outside Russia effectively inoperable.

Serbia holds emergency talks on fate of Gazprom-owned NIS

Serbia’s government held an emergency session to decide whether to nationalise oil company NIS after the US rejected a request to extend the firm’s operating licence and demanded a full exit of its Russian owners.

Bulgaria wins temporary UK sanctions reprieve on Lukoil refinery

The UK has granted Bulgaria a temporary licence allowing its Lukoil’s refinery and fuel operations to continue despite sanctions on the Russian oil group, easing fears of a supply disruption.

Bulgaria seizes Lukoil refinery ahead of US sanctions

Moscow’s ambassador to Sofia, Eleonora Mitrofanova, has called the decision a “dangerous precedent,” likening it to expropriation.

EU LNG imports set for record high in November as US supply surges

Liquefied natural gas (LNG) imports into the European Union are on track to hit an all-time monthly high in November, driven by a sharp rise in shipments from the United States.

Hungary’s MOL could buy part of Gazprom’s stake in Serbia’s NIS

Hungarian energy company MOL could buy an 11.3% stake in Serbia’s oil company NIS from Russia’s Gazprom group as part of efforts to resolve US sanctions against the firm.

Bulgaria’s parliament overturns president’s veto on Lukoil refinery law

Bulgaria’s parliament overturned President Rumen Radev’s veto on a law that gives the government more control over the local assets of Russia’s oil company Lukoil, less than ten days before new US sanctions take effect.

MP says Bosnia must speed up gas project to reduce dependence on Russia

Any delay in the Southern Gas Interconnection project could have “unforeseeable and harmful consequences” for Bosnia & Herzegovina, a senior lawmaker warned.

Hungary global leader in share of solar energy, report shows

Solar power accounted for close to 30% of electricity generation in Hungary in H1 2025, more than in any other country covered in a global report by international independent think tank Ember.

Discounts on Russian Urals oil peak in November

North Macedonia’s regulator says Lukoil’s local unit should be given chance to continue operations

Bulgarian president vetoes law on seizure of Lukoil assets

The veto comes just ten days before new US sanctions on Lukoil take effect, which could block the operation of its Bulgarian assets.

Russia signals readiness to give up control of Serbia’s NIS amid US sanctions

Russia is prepared to relinquish control of Serbia’s oil company, NIS, to a third party to resolve US sanctions that threaten the firm’s operations and Serbia’s energy security.

Bulgaria says fuel reserves sufficient ahead of new US sanctions on Lukoil

Bulgaria has enough fuel reserves to cover domestic demand for several months even if operations at Russia’s Lukoil-owned Burgas refinery are disrupted by new US sanctions.

The UK's mixed signals on North Sea's future

A key thing to watch out for will be the result of consultations between government and industry in the UK about whether certain new licences can still be issued.

How sanctions are hurting Lukoil in Europe

Sweeping Western sanctions imposed in October 2025 on Lukoil, Russia’s second-largest oil producer, have triggered a cascade of legal, operational and financial crises across multiple regions.

Aker BP, DNO agree asset swaps in Norwegian North Sea

Aker BP and DNO have signed a series of asset-swap and operatorship agreements, bolstering Aker BP’s position in the Alvheim area and paving the way for faster development of the Kjøttkake discovery.

NEO, Repsol pre-empt for BP's UK North Sea interests, blocking Serica bid

NEO NEXT Energy, a joint venture between Spain’s Repsol and the UK’s NEO Energy, has exercised its pre-emption rights over BP’s interests in two UK Central North Sea licences, blocking Serica Energy’s planned $232mn acquisition.

Romania preparing law to place Lukoil refinery under state control

Romania’s Ministry of Energy is drafting legislation that would allow the state to take control of Lukoil’s Petrotel refinery in Ploiești to ensure compliance with international sanctions and protect national energy security.

Brazil eases away from Russian diesel

Brazilian fuel importers are reducing purchases of Russian diesel after new US sanctions tightened restrictions on the country’s two biggest oil producers, Rosneft and Lukoil, according to market analysts.

Jugopetrol sole bidder for Montenegro’s state oil reserve storage tender

Montenegro’s oil company Jugopetrol was the only firm to submit an offer in the Hydrocarbons Administration’s tender for the storage of state oil reserves.

Serbia supports request for extension of NIS operating licence

Serbia, China discuss construction of oil refinery in Smederevo

Representatives of Serbia’s Ministry of Mining and Energy met with a delegation from China Energy International Group and China Petroleum Corporation (Sinopec) to discuss potential cooperation on the construction of an oil refinery in Smederevo.