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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Croatia puts €140mn gas pipeline into operation
Slovenia’s Petrol posts 7% higher profit in 2024
Slovenian energy company Petrol said on March 14 that it posted a net profit of €145.9mn in 2024, reflecting a 7% increase from 2023.
US mulls project partnerships with Russia's Gazprom
First and foremost, US involvement in the operation of the Nord Stream 2 pipeline appears to be on the table.
European gas demand to decline by one third by 2050: GECF
“This trajectory reflects a comprehensive energy mix transformation across all economic sectors, driven by existing policies and the broader decarbonisation agenda,” the GECF said.
Slovak Transpetrol says Druzhba oil flow has been renewed
Slovak oil transporting company Transpetrol says that oil flow via the Russian Druzhba [Friendship] pipeline has been renewed and that oil should be arriving in Slovakia in the evening hours of March 12.
Turkey’s TPAO and US oil producer Continental Resources link up to develop Diyarbakir Basin shale fields
National oil company Turkish Petroleum Corporation (TPAO) has entered into a joint venture agreement with US oil producer Continental Resources to develop shale fields in the Turkey’s Diyarbakir Basin.
Hungary says Russian oil supplies via Druzhba pipeline temporarily halted
Hungary’s Foreign Minister Peter Szijjarto said on March 10 that Russian oil supplies through the Druzhba pipeline were temporarily suspended following large-scale Ukrainian drone strikes.
Druzhba pipeline oil deliveries suspended temporarily due to drone strike, Hungarian FM says
Oil deliveries to Hungary via the Druzhba pipeline have had to be suspended temporarily on March 11 due to a Ukrainian drone strike on one of the pipeline’s measuring stations.
GECF bullish on natural gas as "integral" to energy mix for decades to come
“We are convinced now more than ever that natural gas is not just a bridge to the future. It is an integral part of the future,” GECF Secretary General Mohamed Hamel said.
EU proposes extending gas storage targets for another two years, member states seek flexibility
The European Commission proposed extending natural gas storage targets for another two years on March 5, meeting with resistance from some member states who have complained that the goals distort market prices and that greater flexibility is needed.
Kazakhstan to reduce crude oil shipments via CPC by 70% in March
Kazakhstan will reduce its crude oil shipments via the Caspian Pipeline Consortium (CPC) pipeline that runs to the Russian Black Sea coast by up to 70% in March, Deputy Energy Minister Alibek Zhamauov has said.
Romania, Hungary sign agreement on “security of natural gas supply”
Romanian Energy Minister Burduja signed on March 10 in Budapest with the Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó, the Agreement on “solidarity measures to ensure the security of natural gas supply.”
Ireland selects FSRU to create state emergency gas reserve
The Emerald Isle will proceed with the creation of an emergency state gas reserve through the use of a FSRU.
Oil tanker collides with containership in UK North Sea
More than 30 people have been brought ashore following a collision between an oil tanker and a cargo vessel in the North Sea near Hull on the morning of February 10.
TurkStream gas flow to Europe hits new record in February
The TurkStream, the last remaining pipeline flowing Russian natural gas to Europe, handled record volumes for another month in February, delivering 1.55 bcm.
Turkey’s oil output reached 132,000 b/d as of March 1, says energy minister
Turkey’s oil output reached 132,000 barrels per day (b/d) as of March 1, Energy and Natural Resources Minister Alparslan Bayraktar told state news provider Anadolu Agency on March 9.
Poland’s Orlen signs deal to supply Ukraine with LNG
The LNG will be transported from cargoes delivered to the LNG import terminal located in Klaipeda, Lithuania. The super-chilled fuel will then be transported through Lithuania and Poland before it reaches Ukraine via the Drozdovychi interconnector.
Vucic and Putin discuss US sanctions on NIS, new gas contact
Serbia, which maintains strong historical ties with Russia, has walked a delicate line between its allegiance to Moscow and its aspirations to join the EU.
Estonian foreign minister says ‘right place for Nord Stream 2 is at the sea bottom, in pieces’
Kazakhstan’s oil overproduction reportedly played decisive role in first OPEC+ output hike since 2022
Ukraine’s DTEK expected to sign LNG import deal by April
Ukraine’s biggest private energy firm DTEK is holding negotiations with a handful of suppliers over a two-year LNG import contract.
BP takes axe to renewables spending, refocuses on oil and gas
The UK oil major is making a radical shift in strategy.

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