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 grants offshore oil, gas exploration contract to Shell
Bulgaria’s Ministry of Energy has signed a contract with Dutch-based Shell Exploration & Production for oil and gas exploration in offshore Block 1-26 Khan Tervel, located in the country's exclusive economic zone in the Black Sea.
Czech Republic hails its independence from Russian oil
Neighbouring Hungary and Slovakia meanwhile have no intention of ditching Russian crude.
Woodside, Uniper strike LNG supply deals
Australia’s Woodside Petroleum has entered into LNG sale and purchase agreements with Germany’s Uniper for the supply of up to 1mn tpy from Louisiana LNG, as well as up to 1mn tpy from its global portfolio.
Turkey’s Tupras reportedly resumes Russian Urals crude purchases as oil cost falls below price cap
Number one Turkish oil refiner Tupras has reportedly returned to buying Russian Urals crude cargoes amid falling world oil prices.
UK shortlists hydrogen projects in second funding round
The UK government aims to deliver up to 10 GW of low-carbon hydrogen production capacity by 2030, with at least half consisting of green hydrogen and the rest blue hydrogen.
IEA projects 25% growth in Europe's LNG imports this year
The IEA has forecast a 25% year-on-year increase in European LNG imports in 2025, driven by reduced pipeline deliveries and rising domestic demand across the continent.
Wood gets second, much smaller takeover bid from Sidara
Troubled UK engineering firm John Wood Group has received a renewed takeover proposal from Dubai-based Sidara, which includes a conditional offer valuing the company at approximately GBP242mn.
Russian captain in court over North Sea collision
The Russian captain of a cargo vessel involved in a fatal collision in the North Sea has appeared before a London court accused of gross negligent manslaughter.
US energy envoy urges Europe to lock in long-term LNG deals with American suppliers at Budapest LNG summit
The United States is ramping up diplomatic efforts to expand its liquefied natural gas exports to Europe, with a clear objective of regaining energy dominance on the global stage.
EU ends heating season with three-year low in gas storage volumes
The EU closed the 2024/25 heating season with just 37.2bn cubic metres of gas in underground storage, marking its lowest end-of-season level since 2022, according to data from Gas Infrastructure Europe.
ExxonMobil’s Electra well offshore Cyprus proves a disappointment
Cyprus has once again been disappointed in its offshore gas exploration programme as the Electra well in Block 5 is reported to have shown signs of gas, but nothing commercial. Operator ExxonMobil will now move on to drill a new well in Block 10.
Managing methane emissions in the Trump era: interview
Beyond an earnest desire to minimise the environmental impact of operations, it also pays for investors to take the issue seriously, Clayton Nash, the director of emissions solutions at Colorado-based Tegre, tells Newsbase.
Kazakhstan holds talks with oil producers on meeting OPEC+ output targets
Kazakhstan has been in discussions with oil producers operating in the country about reducing output after exceeding its OPEC+ production quota for several consecutive months.
Kazakhstan oil export pipeline operator delays station restart after drone attacks
CPC, which operates by far the most important export route for Kazakhstan’s oil, has delayed the restart of its Kropotkinskaya pumping station in southern Russia until the end of May.
Hungary's Viktor Orban discusses energy issues with Erdogan in Ankara
Hungarian Prime Minister Viktor Orban met Turkish President Recep Tayyip Erdogan for bilateral talks in Antalya, which focused on energy issues and developing bilateral economic, military and defence cooperation.
Turkey's industrial output contracts 1.6% m/m in February, likely positive effects of lower oil prices ahead assessed
Turkey's industrial production contracted 1.6% m/m in February on a seasonally and calendar-adjusted basis, official data shows.
COMMENT: Could the US strike a deal to restart Nord Stream gas pipeline?
US President Donald Trump has made it clear that he wants to do business with Russia and tap into its vast raw material resources. But restarting the Nord Stream gas pipeline is the only US-Russian business project that looks viable.
Gasoline prices in Turkey down 1% as Trump’s tariffs hit oil prices
Despite annual decline, gasoline price in Turkey still compares a few times higher than the seven liras seen in 2021.
Serbia to build two new gas pipelines by 2028
The planned pipelines will connect Serbia to North Macedonia and Romania, complementing the Balkan Stream gas pipeline and the Serbia-Bulgaria interconnector, which links the country to the TANAP pipeline and the Southern Gas Corridor.
Slovenia’s Petrol proposes higher dividend amid strong 2024 performance
The Management Board of Slovenian fuel retailer Petrol said on April 9 that it will propose a gross dividend of €2.1 per share for 2024, a rise of nearly 17% compared to last year.
OMV and Eko halt fuel purchases from NIS amid sanctions uncertainty
Austrian energy group OMV and Greek-owned Eko have ceased purchasing refined fuel from the Oil Industry of Serbia, despite repeated delays in US sanctions.
Deutsche ReGas launches bidding round for expansion of Mukran FSRU capacity
Deutsche ReGas has opened a three-month bidding round for the expansion of the Mukran floating storage and regasification unit’s capacity.
US interim envoy flags energy diversification as key priority for Orban government in first public address
In his first public appearance in Budapest, US chargé d'affaires Robert Palladino stated that American diplomacy under a Trump administration would steer clear of "activism".
Environmental NGOs flag up methane emissions in Croatia
Research by Greenpeace Croatia and the Clean Air Task Force released last week sought to expose Croatia as a leading EU emitter of methane emissions from oil and gas infrastructure.
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