EurOil - Europe Oil & Gas

Ambassador says Serbia and Russia may stick to short-term gas deals

Russian ambassador to Belgrade Aleksandar Bocan-Kharchenko says new long-term gas supply contract unlikely due to EU pressure, market instability and transit risks.

UK extends licence for Lukoil’s operations in Bulgaria

Britain has extended the validity of a general licence allowing transactions with the Bulgarian subsidiaries of Russia’s Lukoil until August 13.

Qatar’s North Field East: a measured albeit vague expansion the world is waiting for

NFE is the first leg of a broader plan to almost double Qatar’s LNG production capacity. Currently sitting at around 77mn tonnes per year, capacity is expected to grow to roughly 110mn tpy by as early as this year.

Brent set to fall 10% in 2026, analysts say

The average price of Brent crude oil is expected to fall by around 10% in 2026 to $62.1 per barrel, despite a recent rise in prices, as a persistent supply surplus continues to weigh on the global market.

US to ship first LNG to Ukraine via Poland this year

Ukraine has received its first shipment of US LNG this year, with around 100 mcm delivered via Poland’s Swinoujscie LNG terminal in partnership with Polish energy group Orlen.

UK considers selling seized Russian shadow tanker oil

The UK is examining whether it can sell oil held on board detained tankers linked to what it calls Russia’s “shadow fleet”, and use the proceeds to help cover the cost of holding the vessels.

Kazakhstan may see sharp drop in oil exports in February, says report

Kazakhstan reportedly may see a sharp drop in oil exports this month through its primary export corridor via Russia, with shipments potentially declining by up to 35%.

Serbia says ADNOC to take significant stake in NIS as Russian owners exit

ADNOC is expected to take a minority holding in a joint company with MOL that would become NIS’s majority owner.

Bosnia moves forward on US-backed gas link to Croatia

Amendments to clear the way for US companies to participate in building the Southern Interconnection pipeline.

Shell pauses investment in Kazakhstan amid majors’ multibillion dollar wrangle with government

Amid huge compensation demands, CEO says “it does impact our appetite to invest further”.

Bosnian Federation pushes Southern Interconnection gas link as deal with Croatia nears

Kazakhstan's exports of crude and gas condensate fall by 29.6% m/m in January

Kazakhstan's exports of crude oil and gas condensate in January reportedly fell to 3.8mn tonnes, equivalent to about 0.91mn barrels a day (bpd), from 5.4mn tonnes (1.3mn bpd) in December.

Turkey to build additional terminal at Hatay floating storage and regasification unit, double site’s capacity

Turkey plans to build an additional terminal at its floating storage and regasification unit (FSRU) in the southern province of Hatay and double its capacity, Energy Minister Alparslan Bayraktar has announced.

Equinor, Aker BP to drill high-temperature Linga prospect

A high-temperature offshore exploration well in Norway’s North Sea has received regulatory approval for drilling close to two existing discoveries, Busta and Norma.

Global LNG oversupply could save European industry $41bn annually by 2032: WoodMac

A surge in global LNG supply could deliver annual energy cost savings of around $41bn for Europe’s industrial sector by 2032, offering a potential boost to manufacturers hit by years of high prices and weak competitiveness.

Aker BP launches next Norwegian oil project

Norwegian oil player Aker BP has started oil production from the Solveig Phase 2 development in the Norwegian North Sea, marking another project delivered on schedule and within budget.

LNG buyers rethink portfolios as volatility becomes structural

LNG buyers are centralising procurement, expanding trading capability and rebalancing portfolios as price swings, geopolitics and supply growth reshape purchasing strategies, executives said at LNG2026.

LNG alliances move from contracts to co-creation

Partnerships across the LNG industry are becoming deeper, longer-term and more strategic as companies seek to share risk, secure financing and navigate geopolitical volatility, executives said at LNG2026.

Hungary challenges EU ban on Russian energy imports at European Court of Justice

TotalEnergies plans to take FID on Namibian oil find Venus this year

French oil supermajor, TotalEnergies aims to make final investment decision for its Venus discovery in Namibia this year, it said in a release on January 30.

Serbia’s NIS posts RSD5.6bn loss in 2025 amid US sanctions

Production of oil derivatives plunged 94.3% y/y in December, after refinery operations were halted in response to US sanctions.

Ukraine, Poland agree to expand border gas flow capacity

Ukraine and Poland have agreed to gradually increase the capacity available for gas imports from Poland into Ukraine from early February 2026, as Kyiv seeks to bolster supplies amid a continuing fuel deficit.

Germany seeks extension of US sanctions waiver covering Russian-owned Berlin oil refinery

If the US Treasury declines to renew the licence, Berlin could be forced to consider nationalising the asset.

Kazakh officials reportedly accepted bribes from oil majors to approve billion dollars of spending on Karachaganak

Kazakh officials allegedly accepted bribes to sign off on billions of dollars of costs claimed by major oil companies at one of the country’s largest hydrocarbon projects, the Karachaganak gas condensate field, it was reported on January 30.

Kazakhstan’s Tengiz oil field resumes output with at least five wells back in operation

Oil production at Kazakhstan’s giant Tengiz field has reportedly partially resumed, with five wells back in operation.