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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BP chairman resigns amid strategic reset
Helge Lund, who has served as BP's chair since 2019, has announced his intention to step down following mounting shareholder pressure against the company's green energy strategy.
Italy's Snam eyes greater stake in Germany's top gas TSO
Italian gas infrastructure company Snam is contemplating expanding its ownership further in Open Grid Europe, Germany's largest independent gas transmission operator.
Europe sees wave of oil refinery closures
European refiners, caught between greener policies at home and fierce competition abroad, are increasingly choosing to downsize and reinvent their operations, or risk disappearing.
Europe starts ramping up gas storage volumes
Europe is now putting natural gas in storage following the end of the winter heating season, ahead of stringent EU refill targets over the summer that member states are pushing to make more flexible to avoid high costs.
Serbia begins expansion of key gas storage facility
Serbia has commenced the expansion of its sole natural gas storage facility in Banatski Dvor, located in the northeastern part of the country.
Serbia hires lobbying firm in US amid sanctions on NIS
Serbia has enlisted the services of lobbying firm BlackSummit Capital to help navigate US sanctions imposed on its sole oil company, Naftna Industrija Srbije (NIS).
Croatia’s Janaf proposes €28.81 dividend per share for 2024
Croatian oil pipeline operator Janaf has proposed a 2024 dividend of €28.81 per share, slightly lower than last year's €30.95, as reported by Zagreb Stock Exchange on April 7.
Turkey’s energy minister receives European Commissioner for energy
Turkey’s energy minister Alparslan Bayraktar on April 3 received European Commissioner for Energy and Housing Dan Jorgensen at Turkey’s energy ministry in Ankara, the minister (@aBayraktar1) wrote on X.
Breaking energy ties with Russia cost EU €1.3 trillion, says Vedomosti
In an extensive review of data, Moscow-based business daily Vedomosti has sought to estimate the high cost that the EU paid for breaking its energy ties with Russia.
OPINION: Europe eager to avoid swapping dependence on Russian gas for overreliance on US LNG amid Trump volatility
Europe is caught in a bind: unwilling to commit to gas in the long term, but still heavily reliant on it in the short term; eager to reduce Russian influence, but wary of handing leverage to Washington.
Oil falls 3.75% amid global trade war recession fears
Oil prices fell 3.75% on April 7, continuing last week's losses, as escalating trade tensions between the United States and China fuelled fears of an economic recession that could reduce crude demand.
Kazakhstan avoids oil disruption as Russian court allows CPC terminal to operate fully
A Russian court has permitted the Caspian Pipeline Consortium (CPC) to continue loading crude oil from all three of its berths at the Black Sea export terminal located near Novorossiysk, averting a potential disruption to Kazakhstan’s oil exports.
Saudi Arabia’s frustration with Kazakhstan drives shock OPEC+ supply hike
Saudi Arabia’s mounting frustration with Kazakhstan and other quota-non-compliant oil producers reportedly triggered a surprise decision by the OPEC+ group to boost oil supplies, with little appetite to reverse course even if prices fall further.
Azerbaijan boosts istrategic energy posture with EU as South Gas Corridor and Green Energy Summits conclude in Baku
The meetings featured broad participation from officials representing Azerbaijan, the European Union, Central Asia and Southeast Europe.
Turkmenistan, Romania hold energy talks in Ashgabat
Turkmenistan and Romania held the eighth meeting of their joint working group on energy cooperation in Ashgabat.
UK's EnQuest reports falling production, revenue for 2024
UK oil and gas operator EnQuest reported falling production and revenue for 2024 in a financial update last week, while outlining a strategic push for growth in the UK North Sea and Southeast Asia in the year ahead.
Repsol, NEO Energy merge UK North Sea operations
Spanish oil major Repsol and private equity-backed NEO Energy plan to merge their UK North Sea businesses to form one of the largest independent oil and gas producers in the region.
BP eyes fuel retail sale in Austria
BP has launched a marketing process to sell its retail network, EV charging infrastructure and fleet operations in Austria, along with its stake in the Linz fuel terminal.
Norway's Castberg oilfield finally starts production
It is the second major oil project to come on stream in the country’s Arctic waters.
EU may stall Russian energy phase-out amid high prices, fear of overreliance on US LNG
The EU may fear the Trump administration could weaponise gas supply just as the Kremlin has.
Oil prices surge on Trump threat to slap tariffs on Russian oil
Should tariffs come into force, Russian flows to its key customers could drop, tightening supply and potentially prompting OPEC+ to act to stabilise the market, according to Rystad.
EU LNG imports rise 17% in March
LNG deliveries from European import terminals to the EU gas grid surged to an all-time high of 12.7 bcm in March.
MOL AGM approves massive dividend payout, equating to 9% dividend yield
Hungary’s MOL has announced plans for a HUF220.4bn (€560mn) dividend payout for 2025, as the oil and gas giant seeks to maintain shareholder returns despite earnings cooling from their 2022 peak.
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