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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Bulgaria’s parliament overrides presidential veto on sale of Lukoil assets
Bulgaria’s parliament voted to override President Rumen Radev’s veto on amendments to the Investment Promotion Act, allowing potential sales of Lukoil’s Bulgarian subsidiaries, only with government and national security approval.
Turkey arrests directors of fuel retailer TP after SOCAR complaint
Police describe around 18,500 tonnes of fuel as "missing".
Bulgaria moves to seize Lukoil refinery to shield it from US sanctions
Bulgaria is preparing to take control of Russian oil company Lukoil’s Burgas refinery, the country’s only oil-processing facility, to protect it from US sanctions.
Kazakh parliament approves legal amendments to boost hydrocarbon and uranium sectors
Kazakhstan’s Majilis (Parliament) has approved at second reading a series of amendments to the Code on Subsoil and Subsoil Use aimed at improving the management of the country’s hydrocarbon and uranium resources, Kazinform has reported.
Germany increases Kazakh crude imports in October by 25% m/m
Germany has sharply increased its purchases of Kazakh crude, importing 225,000 tonnes through the Druzhba pipeline in October, marking a 25% rise from the previous month, Deutsche Welle has reported on its Russian-language Telegram channel.
Bulgarian president vetoes law on sale of Lukoil assets
Serbia says Russia seeks partner for NIS to lift US sanctions
Serbia’s President Aleksandar Vucic said on November 5 that Russia is looking for a partner for the Serbian Oil Industry (NIS) and expressed optimism about finding a solution to lift US sanctions on the company.
French court finds TotalEnergies guilty of greenwashing
A Paris civil court on October 27 ruled that TotalEnergies misled consumers by overstating its climate ambitions and the extent of its contribution to the energy transition.
UK's Petrofac goes into administration
Petrofac has applied to place its holding company into administration, signalling a significant escalation in the financial difficulties facing the engineering and services contractor.
TotalEnergies to spud new Culzean well
Culzean, which began production in 2019, is a high-pressure, high-temperature gas condensate field located around 230 km offshore Aberdeen.
Republika Srpska approves GAS-RES takeover of Comsar
Norway's DeepOcean launches Saudi subsea joint venture with Jana Marine
Norway's DeepOcean and Saudi Arabia's Jana Marine establish JADE Subsea Services joint venture for Middle East offshore energy sector, with five-year charter for hybrid-powered diving support vessel Jana 201.
Chevron CEO reportedly says negotiations with Kazakhstan off to “good start”
Chevron’s discussions with the government of Kazakhstan on an extension of its operating concession have begun on a positive note, Upstream reported on November 3, citing the company’s CEO Mike Wirth, who spoke during a quarterly earnings call.
Hungary, US set to deepen nuclear energy ties during Orbán’s White House visit
Viktor Orban, seeking to secure a temporary waiver from US sanctions on Russian oil, will propose a pragmatic energy deal to Washington, offering deeper cooperation in the LNG and nuclear sectors.
Shell reports third quarter profit beat paced by LNG trading
Supermajor Shell reported a third quarter profit of $5.4bn, beating forecasts on the back of 12.2bn in cashflow from operations.
Turkish refineries reportedly buying more non-Russian crude in response to sanctions
Turkey's largest oil refineries are reportedly purchasing more non-Russian oil as they react to the latest Western sanctions imposed on Russia in relation to its war in Ukraine.
Navigating headwinds, OPEC+ pivots to price defence for Q1 2026
In a significant strategic pivot, the OPEC+ consortium is prioritising market stability and price defence over its recent campaign to recapture market share
Russia’s LNG exports soar by 21% in October
The commencement of cargoes from Arctic LNG 2 has taken Russia’s LNG exports to new levels.
Bulgaria suspends fuel exports to EU after US sanctions Lukoil
Bulgaria has temporarily suspended exports of petroleum products to European Union countries after the United States imposed sanctions on Russian oil giant Lukoil.
US push to pressure Iran providing fresh incentive for trans-Caspian pipeline
Turkmenistan showing interest in the idea.
Serbia and North Macedonia to launch gas interconnector by 2028
A new gas pipeline connecting Serbia and North Macedonia is expected to be completed by 2027, with operations starting in 2028.
OMV Petrom reports mixed results for first nine months of 2025
OMV Petrom (BVB: SNP), Romania’s largest listed company and main oil and gas producer, posted mixed financial results for the first nine months of 2025, with revenues edging higher while profits declined year on year.
Kazakhstan reportedly in talks with ExxonMobil over expansion of Kashagan oil field
Kazakhstan is holding negotiations with Exxon Mobil on developing the untapped section of its giant Kashagan oil field, Bloomberg reported on October 30, citing people familiar with the discussions.
Shell and Orlen among potential buyers for Lukoil’s Romanian assets
Shell and Poland’s PKN Orlen are reportedly among several potential buyers interested in Russian energy group Lukoil’s assets in Romania, including the Petrotel refinery.

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