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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Serbia values Russian stake in NIS at up to €1bn as MOL deal advances
Serbia’s President Aleksandar Vucic said on January 26 that the Russian-owned stake in Serbia’s oil company NIS, which is being sold to Hungary’s MOL, was worth between €900mn and €1bn.
EU Council shores up bloc's plan to phase out Russian gas
The EU on January 26 adopted new rules to phase out imports of Russian pipeline gas and LNG, setting out stepped deadlines through 2027 and introducing multi-million-euro penalties for violations.
MOL shares rally to historic highs on news of NIS takeover
US extends operating licence for Serbia’s NIS as Russia agrees sale
The US has extended a sanctions waiver allowing Serbia’s Russian-owned oil company NIS to continue operating until February 20, 2026, easing concerns over winter fuel supplies after Russia agreed to sell its majority stake in the firm.
IEA: Europe to import record supplies of LNG
The International Energy Agency projects that Europe will import a record level of LNG in 2026, the organization announced in its quarterly Gas Market Report.
Kazakhstan’s energy ministry launches investigation into fire at Tengiz oilfield power unit
Kazakhstan’s energy ministry said on January 22 that a special commission is examining the causes of an incident on January 18 that led to the shutdown of the giant Tengiz oilfield, one of the world’s largest oil producing assets.
Israel's 2025 imports of Azerbaijani oil shipped via Turkey reportedly hit three-year high
Israel's imports of Azerbaijani oil, shipped from Turkey's Mediterranean port of Ceyhan, reportedly hit a three-year high in 2025.
Greenland crisis heightens concerns about Europe’s heavy reliance on US energy
In some quarters, the US has met more than 60% of Europe’s demand for LNG.
Operator of Kazakhstan’s Tengiz oilfield declares force majeure on crude deliveries via CPC pipeline
Romania’s defence ministry says Neptun Deep offshore perimeter under permanent monitoring
Romania’s Ministry of National Defence said the maritime area hosting the Neptun Deep offshore gas project is under permanent monitoring, taking into account the project’s strategic importance and the security risks in the Black Sea.
Portugal’s Galp doubles down on upstream in Brazil
Portugal’s Galp will prioritise expanding oil and gas output in Brazil and Namibia while considering a stock market listing of parts of its downstream business within two years, co-chief executive João Diogo Marques da Silva said.
Bulgaria takes 10% stake in Black Sea oil and gas exploration consortium
"The cheapest gas is our gas," energy minister says as Bulgaria acquires a 10% stake in the consortium exploring for oil and natural gas in the Han Asparuh offshore block.
MOL shares hit seven-year high after Russia agrees to sell NIS stake
Shares of Hungarian oil and gas company MOL surged to their highest level since 2007 after Russia agreed to sell its majority stake in Serbia’s NIS to MOL.
German LNG terminal operator challenges subsidies to federal competing projects
Deutsche ReGas, Germany’s privately owned LNG terminal operator, has launched legal action against the European Commission over its approval of up to €4.96bn in state aid for government-backed LNG terminals.
EU has lost urgency on energy security, EDP chief says
Four years after the outbreak of the war in Ukraine, the EU has lost the sense of urgency needed to strengthen its energy security.
Europe must view refining as critical infrastructure: VaroPreem CEO
He warned that that decades of closures and rising competition from newer plants abroad are reshaping the sector and driving consolidation.
Istanbul-listed Aygaz to acquire LPG vessel from Korea’s Hyundai Samho for $119mn
Turkey’s Aygaz (AYGAZ) has signed a shipbuilding contract with South Korea’s HD Hyundai Samho for the construction of a liquefied petroleum gas (LPG) transportation vessel, Aygaz said on January 15.
Oil production at giant Kazakh field Tengiz could be suspended for another seven to 10 days, says report
Oil production at Kazakhstan's giant Tengiz oilfield could reportedly be suspended for another seven to 10 days following the shutdown announced on January 18.
Serbia seeks US approval as Russians agree to sell oil firm NIS
Serbia has asked the United States to extend a licence allowing its largest oil company to keep operating, as Gazprom Neft agrees to sell its majority stake in the firm to Hungary’s MOL.
Russia’s oil and gas revenues could half in January
Kazakhstan's Tengiz oilfield halts output and export after fires break out at facilities
Oil production and exports at Kazakhstan’s Tengiz oilfield, operated by Chevron, have been halted after fires were reported at the field’s power generation and supply facilities.
Gazprom Neft agrees to sell stake in Serbia’s NIS to Hungary’s MOL
Russia’s Gazprom Neft has reached a provisional agreement to sell its majority stake in Serbia’s oil company NIS to Hungary’s MOL, in a deal that would require approval from the US Treasury as the firm seeks to escape US sanctions.
Unknown US firm eyes role in Bosnia-Croatia gas pipeline project
Representatives of little-known US firm AFFS Infrastructure and Energy have held talks in Bosnia on possible involvement in a gas pipeline project intended to diversify supply sources and reduce reliance on Russian gas.
Russia's Gazprom Neft nears deal to sell stake in Serbian refiner NIS to Hungary's MOL
Russian oil producer Gazprom Neft is close to selling its stake in Serbia’s NIS to Hungary’s MOL.
Azerbaijan launches gas supplies to Germany and Austria
The company said the total number of countries purchasing Azeri gas has now risen to 16.

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