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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US to account for two-thirds of EU LNG imports this year and 80% by 2028: IEEFA
Europe is becoming increasingly dependent on LNG from the US, with US supplies expected to account for around two-thirds of the continent’s LNG imports this year.
Bulgaria's Bulgargaz picks Shell for US LNG delivery
Bulgarian state gas supplier Bulgargaz announced this week it had selected Shell to deliver an LNG cargo from the US under a tender aimed at securing supply for the summer season.
Shell posts higher quarterly profit in two years on trading gains
Shell on May 7 reported its highest quarterly profit in two years, buoyed by strong trading and refining performance during extreme volatility in global energy markets caused by the Iran war.
Lansdowne pushes ahead with arbitration case against blocked oil project in Ireland
Lansdowne Oil & Gas said it had cleared another procedural hurdle in its arbitration case against Ireland over the stalled Barryroe oil and gas project.
Norway to invest surge in oil and gas in revenues in sovereign wealth fund
The government said on May 12 the additional income would largely be saved in the country’s sovereign wealth fund rather than spent domestically.
Norway's Gullfaks field ships out 5,000th oil cargo
Equinor’s Gullfaks field in the Norwegian North Sea has shipped its 5,000th oil cargo, highlighting the continued importance of mature offshore fields in maintaining energy supplies to Europe, the company announced last week.
EU set to soften methane regulation amid crisis
The EU is preparing to soften enforcement of its methane emissions rules for oil and gas imports as the Iran war drives renewed fears over Europe’s energy security.
EnergyPathways eyes UK's Port of Barrow as site for infrastructure for offshore gas and hydrogen storage
EnergyPathways announced this week it had signed a collaboration agreement with Associated British Ports to assess the Port of Barrow in northwest England as a potential location for onshore infrastructure for its Marram Energy Storage project.
Dolphin Drilling secures UK North Sea, India deals
Offshore rig contractor Dolphin Drilling has signed a contract with Harbour Energy for the semi-submersible drilling rig Paul B. Loyd Jr. in the UK sector of the North Sea, adding around $150mn to its firm backlog.
Putin pledges to cover Slovakia's energy needs
Russian President Vladimir Putin pledged to continue supplying Slovakia with energy resources during talks with Slovak Prime Minister Robert Fico.
EU imports record volumes from Yamal LNG in April
The figure represented 98% of all LNG exported from the Arctic project over the period.
Italy’s Edison expects two-thirds of LNG supply from Qatar to be delivered shortly after any peace deal
QatarEnergy’s largest Italian customer Edison forecasts that it will receive about two-thirds of its contract LNG volumes between 30 to 45 days after any peace deal between the US, Israel, and Iran.
Hungary’s MOL reports sharply lower Q1 EBITDA as downstream hit by refinery fire and pipeline halt
Hungarian oil giant MOL posted a disappointing Q1 earnings report due to weak downstream results after a fire reduced capacity at its Hungarian unit and the delay in the reopening of the Druzhba pipeline.
Serbia rejects MOL offer in NIS ownership talks
Serbia is not satisfied with a proposal from Hungarian oil and gas group MOL regarding the future ownership structure of sanctioned Serbian refiner Naftna Industrija Srbije (NIS).
Bulgaria approves OMV Petrom’s 25% stake in Khan Tervel offshore block
Bulgaria has approved OMV Petrom to acquire a 25% stake in the Khan Tervel oil and gas exploration block in the Black Sea.
Unknown Serbian firm bids €2bn for Russian stake in NIS
A little-known Serbian company has offered €2bn to buy Russia’s stake in NIS, a move that could complicate an existing agreement with Hungary’s MOL Group.
Gazprom Neft says it is in exclusive talks on NIS sale with MOL
Russia’s Gazprom Neft said it is in exclusive talks with Hungary’s MOL Group over the sale of its stake in Serbian oil company NIS, dismissing reports of competing offers for the asset.
Turkey’s top refiner Tupras swings to 1Q bottom line of TRY 3.7bn
Largest Turkish refiner Tupras (IST: TUPRS) on May 6 reported a 1Q net profit of Turkish lira (TRY) 3.7bn ($81.8mn) versus the bottom line of TRY 127mn that it reported 12 months ago.
Norway responds to Europe's gas call
Norway is expanding offshore exploration and reviving old gas fields to slow declining output and sustain gas exports to Europe.
Bulgargaz launches tender for LNG cargo to Turkish terminal
Bulgaria’s Bulgargaz has launched a tender for the delivery of one LNG cargo equivalent to 1mn MWh to a terminal in Turkey to secure gas supplies for Bulgaria during the summer season.
Finland's Wartsila to supply fuel systems for four LNG bunkering vessels
Two vessels were booked in the first quarter of 2026, followed by an additional two in the second quarter.
Norway's TGS secures 3D streamer acquisition project in North Sea
Norway’s TGS has secured a new multi-client 3D streamer acquisition and processing project in the Åsta Graben area of the Norwegian North Sea.
Norway's Var Energi exercises second option for Chinese COSL rig
Norwegian producer Vår Energi has exercised a second option for the COSLPioneer semi-submersible drilling rig operated by COSL Drilling Europe, extending cooperation between the two companies.
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