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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Russia remained largest oil exporter to Czechia in 2024, despite falling volumes of imported crude
Russia remained the largest oil exporter to Czechia in 2024, sending 2.7mn tonnes of oil, or 42% of the overall imports to the country.
Eni, TotalEnergies strike deal to pipe Cypriot gas to Egypt
Italy’s Eni and France’s TotalEnergies, partners in Cyprus’ offshore Block 6, have signed a host government agreement with Egypt and Cyprus for the development of the site’s gas resources.
EU faces pressure to relax gas storage requirements
At current prices, it might cost the EU €31bn ($32bn) to meet its storage targets.
TotalEnergies, Air Liquide strike deal on green hydrogen projects to decarbonise refineries
TotalEnergies has signed agreements with industrial gas supplier Air Liquide to develop two green hydrogen projects in the Netherlands, aimed at reducing emissions from its refineries in Belgium and the Netherlands by up to 450,000 tonnes per year.
Serinus wins legal dispute in Romania
Romania to extend price caps for electricity, natural gas
Romania will extend the price cap on electricity and natural gas, as well as the compensation scheme, the country’s Energy Minister Sebastian Burduja said as quoted by Romania Insider news outlet.
Top Turkish refiner Tupras says it's stopped buying Russian crude amid stepped-up sanctions
Turkey’s top oil refiner Tupras has ceased purchasing Russian crude because of stepped-up US sanctions announced in mid-January on Russian energy companies and tankers carrying Russian oil, the company said on an earnings call on February 17.
Russia reportedly considers selling 6% stake in NIS to Serbia after US imposed sanctions
Serbia is considering a range of solutions to ensure NIS’s continued operations, all of which carry economic and geopolitical risks.
Romania's crude oil production declines in 2024, imports on the rise
Romania’s crude oil production in 2024 totalled almost 2.675mn tonnes of oil equivalent (toe), marking a decline of 4.3% compared to the previous year.
Russia says pipeline drone strike set to wipe out up to third of Kazakhstan’s oil exports
Kremlin mouthpiece Medvedev claims Ukrainian attack was designed to harm US economic interests in deliberate move against Trump.
Hungary spends €12.5bn on utility subsidies in three years
Norway foresees record oil and gas investments in 2025 amid goals to maintain output
Norway’s ambitious oil and gas sector is expected to see record investments in 2025, during which the country will pursue a number of projects designed to meet continuing gas demand and keep the sector flourishing for decades.
Trump gives green light to restart LNG export permit approvals
The US LNG exports sector received long-awaited good news with the approval on February 14 of the first LNG export permit granted by President Donald Trump since his return to the White House.
Russian foreign minister accuses West of trying to destabilise Serbia
Sergei Lavrov slams sanctions on oil company NIS and claims ongoing protests are a foreign-backed effort to instigate a ‘colour revolution’ in Serbia.
Serbia and Hungary seek stronger energy ties with joint oil pipeline project
Serbian President Aleksandar Vucic and Hungarian Prime Minister Viktor Orbán agreed on February 17 that the construction of a new oil pipeline connecting their two countries is of strategic importance.
Iraqi oil minister says KRG crude exports to Turkish port will resume next week ending two-year suspension
Oil exports from northern Iraq’s semi-autonomous Kurdistan region will start flowing to the Turkish Mediterranean coast next week following a suspension of almost two years, Iraq’s Oil Minister Hayan Abdel Ghani said on February 17.
Ukrainian drone strikes Kazakhstan’s main oil export pipeline route in Russia
Attack comes on same day Hungarian and Kazakh top diplomats back idea of Ukraine conflict talks between Putin and Trump.
Istanbul-listed Petkim’s port unit obtains $140mn three-year loan from JPMorgan at SOFR+4.35%
Port operator Petlim, a unit of Turkish petrochemical producer Petkim (PETKM), has obtained a $140mn three-year loan from JPMorgan.
Serbia to increase crude oil imports by 25% in 2025
The threat of sanctions has prompted Serbia to adjust its energy import strategy, with an increased focus on securing alternative oil sources to ensure energy security in 2025 and beyond.
MOL successfully tests production and sustainable aviation fuel at Slovakian unit
Hungarian oil and gas company MOL said it successfully tested the production of new fuel types at a refinery managed by its Slovakian subsidiary, Slovnaft in Bratislava.
Gas transit through Slovakia to Ukraine spikes by 60% in three days
Shipments of gas to Ukraine through Slovakia increased by 60% on February 13 compared to the beginning of the week, February 10.
Biggest Turkish refiner Tupras reportedly restricting Russian oil purchases amid tightened sanctions
Biggest Turkish refiner Tupras is reportedly placing restrictions on its purchases of Russian oil and fuels in order to steer clear of potential breaches of US sanctions.
Bulgaria’s Anti-Corruption Fund refers new tender for Chiren gas storage expansion to EPPO
Bulgaria’s Anti-Corruption Fund NGO said on February 12 it has referred the new tender for expansion of the Chiren underground gas storage to the European Public Prosecutor’s Office and the European Climate Agency.
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