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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UK group EnQuest to acquire Vietnam oil assets from Harbour Energy
UK energy group EnQuest has announced its acquisition of Harbour Energy's Vietnam-based oil and gas assets, signalling a move to expand beyond the North Sea amidst challenging tax policies in the UK.
Czech gas reserves are at 48%
Czech gas reserve capacities are 48% full, containing 1,67bn cubic metres of gas. Last year at this time of the year the capacities were 74% full, Czech Press Agency reported.
Trump guarantees Europe LNG supply from US
US President Donald Trump has promised Europe ample supply of LNG.
Bulgaria calls new tender for Chiren gas storage expansion
Bulgarian gas transmission operator Bulgartransgaz said on January 24 it has launched a new tender for the expansion of the Chiren underground gas storage facility estimated to cost BGN109.5mn (€56mn) without VAT.
Russia expects mutually acceptable solution to US sanctions targeting NIS
Russia’s Ministry of Foreign Affairs expressed confidence that a mutually acceptable solution will be reached for Serbia and Russia following the imposition of US sanctions on Serbia's state-owned oil company, NIS.
Kazakhstan to deliver 127,000 tonnes of oil to Germany in January
Kazakhstan's state-run oil pipeline operator, KazTransOil, reportedly plans to deliver up to 127,000 tonnes of oil to Germany by the end of January.
Nigeria’s Dangote Refinery set to overturn fuel trade with Europe
Nigeria’s 650,000 barrel per day Dangote Refinery is expected to disrupt Europe’s petrol market, with experts noting that the plant could end petrol trade between Europe and Africa worth $17bn annually.
Wizz Air stops refuelling at Belgrade airport to comply with US sanctions
Recent US sanctions targeted oil and gas company NIS, the sole supplier of aviation fuel in Serbia, which is majority-owned by Russia’s Gazprom Neft.
Portugal to replace Russian LNG with supply from US and Nigeria
Portugal will look to the US and Nigeria for more supply of LNG to replace purchases from Russia.
Baltic states seek expanded energy security, NATO strengthens regional presence
After a series of supposed accidents in the Baltic Sea in which undersea cables have been heavily damaged, the Baltic states and NATO have taken steps to increase surveillance in the region for the sake of safeguarding energy security.
Serbia’s NIS faces disruptions due to US sanctions
Serbia’s oil company, Naftna Industrija Srbije (NIS), is grappling with disruptions following US and UK sanctions targeting entities tied to Russia’s energy sector.
Traders divert six US LNG cargoes from Asia to Europe
Higher European prices and poor demand in Asia for LNG have resulted in traders diverting at least six US LNG cargoes already this month.
COMMENT: Trump demands Europe import more US LNG, as the EU proposes banning Russian LNG completely. Neither will happen.
US President Donald Trump wants Europe to buy more US gas or face tariffs, and ten EU member states have again called for an end to all Russian imports. Neither of these things are going to happen. Europe remains hooked on Russian gas.
Slovakia’s Fico discusses Russian gas imports via Turkstream with Erdogan
Slovakia’s populist Prime Minister Robert Fico has announced that Turkey’s Recep Tayyip Erdogan offered to deliver Russian gas via Turkstream to Slovakia.
Explosion rocks refinery in Germany's Bavaria Province
An explosion at an oil refinery in southern Germany late on January 16 injured four people and triggered a fire, according to police reports.
Six EU member states press for lower Russian oil price caps
Six EU nations have urged the European Commission to cut the $60-per-barrel price cap on Russian oil set by G7 countries.
Scottish business group slams Holyrood's position on oil and gas exploration
The Scottish Government is under mounting pressure to reverse its “presumption against” new oil and gas exploration in the North Sea, two years after unveiling its draft Energy Strategy and Just Transition Plan.
BP to slash global workforce by 5%
BP plans to cut more than 5% of its global workforce as part of a cost-reduction drive led by CEO Murray Auchincloss.
Chevron eyes exploration opportunities in Greece
US oil major Chevron is exploring opportunities to search for hydrocarbons in Greece, focusing on areas southwest of the Peloponnese peninsula and west of Crete.
Hungary, Serbia affirm strategic energy cooperation at bilateral summit in Belgrade
An agreement was reached to accelerate joint energy infrastructure investments, including doubling the capacity of an interconnector between the two countries' electricity grids by 2027 or 2028.
Slovak opposition leader Simecka meets Zelenskiy in Kyiv
Slovenia’s Petrol targets €178m net profit and €6.1bn revenue in 2025
Slovenian energy company Petrol Group has announced ambitious targets for 2025, aiming for a net profit of €178mn and sales revenues of €6.1bn.
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