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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Czechia to use new TAL-Plus oil pipeline this month
Czechia is to use oil flow from the new TAL-Plus pipeline which enhances the oil flow from the southwest route of TAL and IKL pipelines.
Hungary's MOL buys gas field from O&GD
Hungarian oil and gas giant MOL has acquired gas fields and related infrastructure owned by O&GD in southwest Hungary (Endrod), covering 1,000 square kilometres.
Bulgaria’s energy regulator lowers natural gas price for April by 14.3%
Bulgaria's energy and water regulatory body, KEVR, said it has approved a lower wholesale natural gas price of BGN75.08 (€38.4) per MWh for April, excluding transmission fees, excise tax and VAT, which is by 14.3% lower than in March.
Orlen forecasts PLN1.5bn net profit for 2024, with dividend policy unchanged
Orlen expects to post a net profit of PLN1.5bn (€360mn) for 2024, with net earnings before asset write-downs reaching PLN13.2bn, the company said in a market filing on April 1.
Gazprom to increase gas exports to Slovakia
Serbia advances key oil pipeline project with Hungary
The Serbian government has approved the construction of a critical oil pipeline connecting Serbia to Hungary, aiming to secure the country’s energy future amid the looming threat of US sanctions on its national oil company, NIS.
Northern Lights partners okay FID for offshore Norway CCS project
Equinor, TotalEnergies and Shell have agreed the final investment decision for phase two of the Northern Lights carbon capture and storage project, located in the North Sea west of the Norwegian port of Bergen.
Germany’s SEFE agrees to buy LNG from Delphin under 15-year deal
US LNG producer Delphin Midstream has signed a 15-year heads of agreement deal to supply 1.5mn tonnes per year of LNG to Berlin-headquartered Securing Energy for Europe.
Cracks appear in EU plan to adopt Japan-style LNG model
The European Union is in the midst of assessing whether to adopt a “Japanese model” of direct investment in LNG projects as the bloc grapples with high energy prices and low gas storage levels.
Croatia's INA appoints management board members
US postpones sanctions on Serbia's NIS for another 30 days
Negotiations have been ongoing between NIS representatives and US and Russian officials since the company was included in a broad package of US sanctions against Russia’s energy sector.
Panama revokes 128 ship registrations in crackdown on Russia and Iran’s shadow fleet carrying oil
Panama has intensified its crackdown on sanctioned vessels by revoking the registration of 128 ships, a move primarily targeting the "shadow fleet" facilitating oil exports from Russia and Iran.
Hungary anticipates receiving 8bn cubic metres of Russian gas in 2025
Hungary anticipates receiving 8bn cubic metres of natural gas from Russia via the TurkStream pipeline in 2025, according to reports from Russia's RIA news agency on March 28.
Serbia expects another delay to US sanctions on NIS
Serbia anticipates another delay in the application of US sanctions on the Oil Industry of Serbia (NIS), with a top energy official suggesting the postponement would last another 30 days.
Lithuanian government commits €54mn for Orlen plant upgrade
The Lithuanian government will provide up to €54mn in state aid to Orlen Lietuva, part of Poland’s energy group Orlen, to help with its €640mn upgrade of the Mazeikiai-based refinery.
Hungary to expand energy cooperation with Russia, foreign minister says in live stream from Red Square
Hungary views the operations of its oil company MOL in Russia as highly successful and expects further expansion, Foreign Minister Peter Szijjarto said during his visit to Moscow.
US tariffs on Venezuelan oil put China, India, Spain in spotlight
Washington’s move to impose 25% secondary tariffs on nations purchasing Venezuelan oil and gas has drawn sharp reactions, particularly from China, the top buyer of the South American country’s crude.
Spain signals retaliation if US tariffs on Venezuelan oil harm its economy
The Spanish government issued a strong warning on March 25 stating it will take action if newly proposed US tariffs on Venezuelan oil negatively impact Spain's economy
Serbian government sends letter to US asking to delay sanctions on NIS
The Serbian government has sent a letter to the US administration supporting a request by the Oil Industry of Serbia (NIS) for a delay in the implementation of US sanctions, which were imposed due to the company’s significant Russian ownership.
UK could produce half of oil and gas it needs by 2050 under right conditions: OEUK
The UK could supply half of its projected oil and gas demand by 2050 through domestic production if investment conditions improve.
Norwegian oil output falls 2.6% in February
Norwegian oil and condensate production dropped 2.6% month on month in February to 1.943mn barrels per day.
Serica, Dana weigh up options for underperforming Triton FPSO off UK
UK-based oil producer Serica Energy reported on March 19 that the Triton floating production storage and offloading unit is not expected to resume operations before May this year.
Equinor scales back climate ambitions
Norway’s Equinor has scaled back its energy transition ambitions as it faces mounting challenges in meeting renewable investment targets, blaming rising costs, supply chain issues and changing political priorities.
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