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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Harbour to enter US Gulf with LLOG acquisition
Harbour Energy has agreed to acquire LLOG Exploration from LLOG Holdings for $3.2bn, giving it a presence in the US Gulf of Mexico.
IntelliNews Lambda: Europe’s gas storage unusually full at 85% despite cold snap, forecast path largely unchanged
Europe's underground gas storage facilities remain unusually full for this point in the heating season, with inventories at 85.1% on January 7, according to aggregated data from GIE.
Chevron, Quantum line up bid for Lukoil assets, including Bulgaria refinery
US oil major Chevron and private equity firm Quantum Capital Group are preparing a bid for the international assets of sanctioned Russian oil producer Lukoil, a deal that would include the Burgas refinery in Bulgaria.
Turkey’s energy minister commends country’s first publicly-owned floating storage and regasification unit
Turkey’s first publicly-owned floating storage and regasification unit (FSRU) has so far provided 9.3bn cubic metres (bcm) of natural gas to the national transmission system, according to Energy and Natural Resources Minister Alparslan Bayraktar.
Oil, gas industry faces "tougher strategic balancing act" in 2026: WoodMac
Wood Mackenzie expects the strategic pressure on companies to intensify in 2026, warning that the industry faces “an even tougher strategic balancing act" in 2026.
Greece's Aphrodite partners approve FEED plan
Partners in the Aphrodite natural gas field offshore Cyprus have approved the start of front-end engineering and design (FEED) work for the project’s production facilities and export infrastructure.
Eni presses on with satellite model with refining spin-off
The new company will manage Eni’s traditional refining and storage assets in Europe and the Middle East, while also supporting the group’s longer-term industrial transformation strategy.
Russian gas exports to Europe crash 44% in 2025
Russia’s pipeline gas exports to Europe fell by 44% in 2025 to their lowest level since the mid-1970s, following the closure of the Ukrainian transit route and as the EU moves to phase out fossil fuel imports from Russia.
Turkey strikes new long-term agreement to import 33bcm of natural gas from Azerbaijan
Turkey has struck a new long-term agreement under which it will import 33bn cubic metres (bcm) of natural gas from Azerbaijan, Turkish Energy Minister Alparslan Bayraktar said on January 4 in a televised interview.
Geopolitical volatility triggers OPEC+ retreat to market neutrality
The leading factions of the OPEC+ alliance have opted to maintain current crude production ceilings
Poland's PERN strikes deal with Kazakhstan's KazTransOil on crude supplies
Poland’s oil pipeline operator PERN has signed an agreement on technical cooperation with Kazakhstan’s state pipeline company KazTransOil to support shipments of Kazakh crude to Germany.
MOL starts due diligence on Serbia’s NIS as US sanctions clock ticks
Hungary’s MOL has begun due diligence on Serbia’s Russian-controlled oil refiner NIS, as Belgrade pushes for a deal to lift US sanctions threatening the country’s fuel supplies.
Turkey’s Botas and Woodside agree to 9-year LNG deal
Turkish state-owned petroleum pipeline corporation Botas has signed a sales and purchase agreement with Australia’s Woodside energy.
US exports record 111mn tonnes of LNG in 2025
US shipped nearly 20mn more tonnes of LNG than its closest rival Qatar.
US grants NIS sanctions reprieve as Gazprom, MOL near deal
Serbia’s Russian-controlled oil refiner NIS can resume operations until January 23, easing supply pressures after sanctions halted crude imports.
Albania extends probe into Bankers Petroleum tax case
Europe's LNG imports surge to record 142bn cubic metres in 2025
Europe's LNG imports hit record 142bn cubic metres in 2025, up 28% from previous year, as continent continues reducing Russian pipeline gas dependence with December reaching 12.7bn cubic metres.
Serbia extends Russian gas deal to March, NIS talks continue
Serbia has agreed with Russia to extend its existing natural gas supply arrangement by three months until March 31, as uncertainty persists over the future of the country’s energy sector following US sanctions on its sole oil refiner.
Iran, Belarus move to implement oil cooperation deal
Iran and Belarus said their bilateral oil cooperation was moving into an implementation phase after officials reviewed practical steps to execute a joint oil memorandum of understanding.
Kazakhstan’s 11-month oil output and export figures show country on track to meet targets despite CPC disruption
Kazakhstan Deputy Energy Minister Sungat Yessimkhanov announced at a government meeting on December 17 that Kazakhstan’s oil output rose by 14.1% y/y to 91.9mn tonnes in the January-November period.
Oil tankers appear to be cleaving to Georgia, Turkey Black Sea coasts to cut risk of Ukraine drone attacks, says report
Oil tankers carrying Russian crude across the Black Sea appear to be cleaving to the Georgian and Turkish coasts to cut the risk that they will be targeted by Ukrainian sea drones, according to a December 18 report from Bloomberg.
MOL plans full restoration of fire-damaged refinery unit by Q3 2026
European Union expands sanctions against Russian shadow fleet with 41 additional vessels
European Union sanctions 41 vessels in Russia's shadow oil tanker fleet, bringing total designated vessels to nearly 600, as bloc maintains pressure on Russia's energy revenues and sanction circumvention efforts.
Kazakh pipeline operator KazTransOil opens branch office in Poland, first in EU
The board of directors of Kazakh state-run pipeline operator KazTransOil (KZTO) has authorised the opening of a branch office in Poland. The office is the company’s first official representation within the EU, the company said in a statement.
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