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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Equinor dishes out $612mn in contracts as part of next wave of its upstream development plans
Equinor has awarded contracts worth around NOK6bn for four subsea tie-back projects, launching the first wave of a broader effort to cut development costs and timelines on the Norwegian continental shelf.
Brazil's Venture Offshore secures more work for rig offshore Indonesia with Italy's Eni
Brazilian deepwater drilling contractor Ventura Offshore has secured additional work worth about $25.1mn for its SSV Catarina semi-submersible rig offshore Indonesia.
Italy's Saipem scores $2bn FSRU contract offshore Indonesia
Italy’s Saipem has secured a contract worth around $2bn for its share of work on a new floating production, storage and offloading unit for the Kutei North Hub development offshore Indonesia.
Shell raises Q2 production guidance on strong gas trading
Shell has raised its second-quarter production guidance for its integrated gas and upstream divisions and expects gas trading results to improve significantly, even as the Middle East conflict curbs volumes from Qatar.
Norway's Aker BP sends topsides for Yggrasil oil and gas project
Norwegian oil producer Aker BP has sent the Hugin B platform topside from Aker Solutions’ Verdal yard to the Yggdrasil oil and gas development in the Norwegian North Sea.
Hungarian government unveils major wind power expansion plan after decade-long pause
The Tisza-government has introduced new regulations aimed at accelerating wind power development by easing long-standing restrictions on new projects financed from the EU's RRF scheme.
OPEC+ members stick together with latest output raise
OPEC+’s seven core producers have agreed a modest easing of voluntary supply curbs from August, signalling a cautious, coordinated shift in strategy rather than a wholesale change of direction.
Georgia's only refinery to stop using Russian oil to target EU fuels market
Georgia’s Kulevi oil refinery plans to stop processing Russian crude from August or September, allowing it to target more profitable markets in the EU.
Head of German far-right party calls for return to Russian oil and gas
“Cheap energy from Russia was the secret of the success of ‘Made in Germany’. We need it back,” the leader of the far-right AfD told Reuters last week.
Yamal LNG carrier arrives in Danish yard for maintenance ahead of EU ban on Arc7 servicing
A Yamal LNG carrier has entered Denmark’s Fayard yard ahead of new EU restrictions in 2027.
US extends sanctions waiver for Serbia's NIS until July 31
The United States has extended a sanctions waiver allowing Serbia's sole oil refiner NIS to continue operating until July 31, giving the company another month to secure a deal to remove Russian ownership that triggered US sanctions.
Ukraine's Naftogaz holds US LNG talks
Naftogaz said the meetings took place with representatives of the US Department of State, the Department of Energy, the US International Development Finance Corp. and the US EXIM Bank.
Italy's Edison says QatarEnergy has extended force majeure on LNG cargoes
The additional notice means QatarEnergy will be unable to deliver a further four LNG cargoes scheduled to arrive at Italy’s Adriatic LNG terminal by early September, Edison said.
Bulgaria, Litasco edge toward settlement in Lukoil refinery dispute
The Bulgarian government and Litasco have taken initial steps toward an out-of-court settlement over a dispute linked to Lukoil’s Bulgarian operations.
Neste announces nine weeks of maintenance at Finland's Porvoo oil refinery
The Finnish refiner said fuel deliveries to customers would continue as normal during the shutdown, with supply secured by preparing products in storage ahead of the work
Equinor gets greenlight for Norwegian North Sea wildcat well
The Norwegian Offshore Directorate has granted Equinor a drilling permit for a wildcat well in the North Sea.
UK oil and gas industry makes renewed call for energy policy change
OEUK CEO David Whitehouse wrote to all 403 Labour MPs on June 29, arguing that the UK had suffered 50 years of industrial erosion, growing reliance on imported energy and the offshoring of its carbon emissions.
Norwegian producers Equinor and Var Energi agree oil and gas asset swap
Norwegian oil producers Equinor and Vår Energi have agreed an asset swap on the Norwegian Continental Shelf aimed at accelerating development of the Peon gas discovery and strengthening Equinor’s position in the Troll-Fram area.
QatarEnergy, ExxonMobil, Cyprus strike deal to exploit gas discovery off Cypriot coast
QatarEnergy, ExxonMobil and Cyprus have signed a commercial discovery declaration for the Glaucus and Pegasus gas fields in Block 10 offshore Cyprus, advancing plans to exploit the country’s offshore gas resources.
Energy statistics show we remain an overwhelmingly fossil fuel-based world
Renewables are growing fast, but oil and gas by far still dominate the global energy system.
Shell predicts 65% surge in LNG demand by 2050
Global LNG trade reached 422mn tonnes in 2025 and had been expected to rise significantly this year.
EDF secures major solar, storage and digital energy projects in Oman
France’s EDF Power Solutions has strengthened its footprint in Oman’s clean energy sector through a series of landmark agreements signed in Paris during the official visit of Sultan Haitham bin Tarik to France on June 29.
COMMENT: Ukraine may take the war to Russian LNG
An attack on Yamal LNG would be a market-shaking scenario, particularly for Europe.

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