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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Ireland selects FSRU to create state emergency gas reserve
The Emerald Isle will proceed with the creation of an emergency state gas reserve through the use of a FSRU.
Oil tanker collides with containership in UK North Sea
More than 30 people have been brought ashore following a collision between an oil tanker and a cargo vessel in the North Sea near Hull on the morning of February 10.
TurkStream gas flow to Europe hits new record in February
The TurkStream, the last remaining pipeline flowing Russian natural gas to Europe, handled record volumes for another month in February, delivering 1.55 bcm.
Turkey’s oil output reached 132,000 b/d as of March 1, says energy minister
Turkey’s oil output reached 132,000 barrels per day (b/d) as of March 1, Energy and Natural Resources Minister Alparslan Bayraktar told state news provider Anadolu Agency on March 9.
Poland’s Orlen signs deal to supply Ukraine with LNG
The LNG will be transported from cargoes delivered to the LNG import terminal located in Klaipeda, Lithuania. The super-chilled fuel will then be transported through Lithuania and Poland before it reaches Ukraine via the Drozdovychi interconnector.
Vucic and Putin discuss US sanctions on NIS, new gas contact
Serbia, which maintains strong historical ties with Russia, has walked a delicate line between its allegiance to Moscow and its aspirations to join the EU.
Estonian foreign minister says ‘right place for Nord Stream 2 is at the sea bottom, in pieces’
Kazakhstan’s oil overproduction reportedly played decisive role in first OPEC+ output hike since 2022
Ukraine’s DTEK expected to sign LNG import deal by April
Ukraine’s biggest private energy firm DTEK is holding negotiations with a handful of suppliers over a two-year LNG import contract.
BP takes axe to renewables spending, refocuses on oil and gas
The UK oil major is making a radical shift in strategy.
Germany says not in talks with Russia on restarting Nord Stream 2, insists on independence from Russian gas
Shell eyes sale of chemicals plants in US, Europe
UK oil major Shell is exploring the potential sale of its chemicals assets in Europe and the US.
Norway's Castberg oil project suffers further delay
The launch of the Johan Castberg oilfield in the Arctic Barents Sea off Norway has been delayed once again owing to adverse weather conditions.
Turkey’s Russian crude imports drop fourfold, following spike in Russian LNG imports
Turkey’s imports of Russian crude oil reportedly contracted 4fold in February following the January 10 US-led tightening of sanctions on Moscow’s energy exports that hit energy companies and more than 180 "shadow fleet" tankers.
Europe sees further climb in gas prices in February, amid record storage withdrawals
European gas prices rose by 5% in February, reaching an average of $542 per 1,000 cubic metres, driven by record-high storage withdrawals and reduced wind power generation.
Serbia seeks new gas contract with Russia ahead of May deadline
Serbia is negotiating a new long-term gas contract with Russian energy giant Gazprom as it prepares for the expiration of its current three-year supply agreement in May 2025.
Romgaz reports 15% rise in net profit as solidarity contribution ends
Romanian natural gas producer Romgaz recorded a 15% y/y increase in net profit in 2024, reaching €640mn, as the temporary solidarity contribution on excess profits was no longer charged. However, gross profit declined by 29% y/y.
Ukraine’s DTEK expected to sign LNG import deal by April
Ukraine’s biggest private energy firm DTEK is holding negotiations with a handful of suppliers over a two-year LNG import contract.
US postpones sanctions on Serbia's NIS for 30 days
The US has granted a 30-day delay on sanctions targeting the Serbian oil industry, NIS, providing a temporary reprieve for the company, which is majority-owned by Russian energy giants Gazprom and Gazprom Neft.
ICC rules Gazprom must pay CZK1bn to Czech CEZ
North Macedonia to sign deal for construction of gas interconnector with Greece in March
North Macedonia’s Prime Minister, Hristijan Mickoski, announced that the country expects to sign the agreement to commence construction of the gas interconnector with Greece in March.
Gazprom restructures ownership of NIS as US sanctions loom
Gazprom Neft, the Russian oil giant, has transferred its 5.15% stake in NIS to its parent company Gazprom, in a bid to avoid US sanctions on Serbia's sole oil company.
Shipping companies fight against biofuel regulations
Offshore Energy reported this week that numerous shipping companies had called on the International Maritime Organization to remove “unsustainable” biofuels from its list of alternative fuel sources.
UK unveils $253mn investment in Scottish refining site
UK Prime Minister Sir Keir Starmer has announced a GBP200mn ($253mn) investment in Scotland’s Grangemouth industrial site.
Poll shows more widespread for oil and gas in Scotland
Public support for oil and gas production in Scotland is far more widespread and less polarised than commonly perceived.
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