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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Hungary to veto 'von der Leyen-Zelenskiy energy plan' over Russian import restrictions, foreign minister says
The European Commission is set to unveil a June 17 that would legally prohibit imports of Russian pipeline gas and liquefied natural gas into the European Union by the end of 2027.
US resists EU and UK push to cut Russian oil price cap at G7 summit
The US is resisting calls from European governments to reduce the G7 price cap on Russian oil from $60 to $45 per barrel, frustrating efforts by the EU and UK to increase financial pressure on Moscow as leaders meet for a G7 in Canada.
COMMENT: Israel-Iran conflict intensifies with limited macro fallout but mounting geopolitical risk
The recent escalation in hostilities between Israel and Iran has signalled a shift from earlier, more calibrated exchanges to a broader and more sustained confrontation.
North Macedonia gas company Nomagas boosts capital
North Macedonia’s state-owned gas transmission operator, Nomagas, has successfully increased its capital through the conversion of state claims into a permanent deposit.
ING: Oil in focus as Israel-Iran conflict escalates
Commodity markets are focused on escalating geopolitical tensions between Israel and Iran, with the Middle Eastern conflict sparking a surge in oil prices.
Hungary reiterates veto threat over new EU sanctions on Russian energy
Hungary to initiate the removal of a recommendation to phase out Russian energy imports from the agenda of EU energy ministers' summit in light of the situation in the Middle East.
Slovak PM Fico wants EU leaders to postpone vote on new sanctions against Russia
Fico had previously criticised the plan to phase out Russian fossil fuel imports by 2027, which the EU introduced last month.
Slovenia’s Petrol warns of fuel station closures and cutbacks after expansion of fuel price regulation
Petrol, Slovenia’s largest energy company, warned on June 13 that it may be forced to close fuel stations, reduce green investments and scale back support for sports, culture and education following the government's adoption of a new regulation.
Bulgaria’s competition watchdog probes Lukoil for possible abuse of fuel market
Bulgaria’s Competition Protection Commission (CPC) said on June 13 it has launched an investigation into possible fuel market violation by Lukoil Neftochim Burgas and Lukoil Bulgaria following signals filed in 2024 and 2025.
TurkStream, last pipeline route for Russian gas to Europe, offline for maintenance
Russia has fully suspended pipeline gas deliveries to Europe after flows through TurkStream – the last remaining export route – were halted for scheduled maintenance from June 10-17.
Kazakhstan shows interest in exporting oil, gas and uranium to Slovakia
Kazakh President Kassym-Jomart Tokayev has expressed Kazakhstan’s readiness to begin exporting oil, gas, uranium and other goods to Slovakia.
EU pushes for Nord Stream sanctions, lower Russian oil price cap
The EU has proposed new sanctions targeting Russia, including a ban on the Nord Stream gas pipelines and a reduction in the oil price cap, as it seeks to ratchet up pressure on Moscow to end its war in Ukraine.
Srbijagas' profit drops by a third in 2024
Eni and YPF ink deal giving Argentina LNG a roadmap to FID
Italian energy giant Eni and Argentinian energy firm YPF have inked an agreement for participation in the Argentina LNG project.
Serbia plans to build two gas pipelines in next three years
Serbia will construct two new gas pipelines over the next three years as part of a broader push to modernise its energy infrastructure and reduce reliance on Russian energy supplies.
BP's $2.9bn FID in Azerbaijan won't mean higher exports
Hopes are slim that Azerbaijan will be able to ramp up gas supply to Europe to 20 bcm per year as targeted for a number more years.
US investor Lynch in talks with Germany on taking over Nord Stream 2
Before relocating to Miami in 2019, Lynch lived in Moscow for two decades. During this time, he was involved in significant financial dealings, including the acquisition of a subsidiary of Yukos in 2007 and the Swiss division of Sberbank in 2022.
Canada's Grand Tierra sheds North Sea business to NEO for $7.5mn
Canadian energy firm Gran Tierra Energy has agreed to sell its UK North Sea subsidiary to NEO Energy for $7.5mn.
EU mandates role for oil, gas producers in reaching CCS target
European oil and gas producers could be mandated to play a key role in achieving the EU’s 2030 target of at least 50mn tonnes of annual CO2 injection capacity under the Net-Zero Industry Act.
Centrica strikes 5 bcm per year gas deal with Equinor
UK energy group Centrica has signed a $27bn agreement with Norway’s Equinor to deliver 5bn cubic metres of natural gas annually to the UK for the next decade.
Hungary’s MVM joins $2.9bn Shah Deniz gas project in Azerbaijan
Hungarian state-owned energy group MVM has secured a 5% stake in the next phase of Azerbaijan’s flagship Shah Deniz gas field, joining a $2.9bn development led by BP.
Boss of Turkish fuel retailer Teco arrested as part of Imamoglu operation
Regime says it's targeting "tentacles" of "octopus-like" crime syndicate under Istanbul mayor. Critics scoff at bogus investigation aimed at removing political threat to Erdogan.
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