EurOil - Europe Oil & Gas

EU's 18th sanctions package: toughest yet or merely demonstrative?

The 18th package may be remembered less for its economic impact than for its political theatre: a demonstration of European unity.

Asian spot LNG prices fall after rising multiple weeks

Asian spot LNG prices have fallen amid weaker demand and high inventories.

Greek tankers continue to transport Russian oil despite new eighteenth sanctions package, come under Ukrainian special ops attacks

Greek-owned oil tankers are likely to continue to carry Russian oil exports, despite the passage of a new eighteenth sanctions package last week that largely targets Russia’s oil exports.

Serbia seeks fifth delay of US sanctions on oil firm NIS

Serbia has requested a fifth delay in the enforcement of US sanctions on its Russian-controlled oil and gas company NIS, the firm said on July 18.

Venture Global inks 20-year LNG supply deal with Italy’s Eni

US LNG giant Venture Global has agreed to supply Italian energy firm Eni with 2mn tonnes per year of LNG over a 20-year contract.

Gas flow from Czechia to Slovakia spikes by 20% m/m in July

CPC Blend oil exports to hold steady in August at 1.66mn bpd

CPC Blend oil shipments from the Black Sea oil export terminal in Russia are scheduled to remain stable at 1.66mn barrels per day (bpd), or approximately 6.5mn tonnes, in August, Reuters reported on July 17, citing industry sources.

Fico claims Slovakia has obtained energy guarantees from EU and will unblock latest sanctions package against Russia

Slovakia’s populist Prime Minister Robert Fico said it would be "counterproductive" to continue blocking the EU’s 18th sanctions package against Russia.

Baghdad says Iraqi Kurdistan to restart piping of oil to Turkey after two-year halt despite mystery drone attacks

Iraq’s federal government said on July 18 that Iraqi Kurdistan is to resume oil exports through a pipeline that runs to Turkey’s Mediterranean port of Ceyhan after a two-year freeze and despite a fourth day of mystery drone attacks.

PM Fico claims Slovakia will never support RePowerEU gas supply plan

Slovakia’s populist Prime Minister Robert Fico claimed that his country will never support the RePowerEU gas supply plan, which expects the phase-out of Russian fossil fuel imports to the EU by 2028.

Croatia’s INA produces first sustainable aviation fuel at Rijeka refinery

Croatian energy company INA has produced sustainable aviation fuel for the first time at its Rijeka Oil Refinery as part of its efforts to reduce carbon emissions and comply with EU renewable energy targets.

Russian Zarubezhneft reportedly wants to buy Bosnian Krajinapetrol

The Russian oil company Zarubezhneft is interested in buying Krajinapetrol, Indikator.ba news outlet reported on July 16.

Serbia to complete gas storage expansion by end-2026

Serbia expects to complete the expansion of its underground gas storage facility at Banatski Dvor by the end of 2026, raising capacity from 450mn to 750mn cubic metres.

TotalEnergies' production bump offset by weaker oil, LNG prices in Q2

BP warns of Q2 hit from lower oil and gas prices

BP said on July 11 that lower realised prices for oil and gas are expected to weigh on its second-quarter earnings.

Slovakia’s Fico holding out for full Russian gas import exemption EU with sanctions veto

Slovak Prime Minister Robert Fico has demanded that the European Commission grant Slovakia a exemption allowing it to continue importing Russian gas until 2034, otherwise Bratislava will refuse to lift its veto on the EU’s 18th sanctions package.

Kazakhstan’s oil output rises 11.6% in first half

Kazakhstan increased its oil production by 11.6% y/y in the first half of 2025, reaching 49.9mn tonnes, Reuters reported on July 15, citing senior officials.

Bankers Petroleum Albania names new board chair after tax probe launched

Slovak PM Fico delays approval of EU’s sanctions package again, blaming Slovak opposition

Slovak populist Prime Minister Robert Fico has again delayed approval of the latest 18th round of EU sanctions against Russia, blaming his latest blocking on the opposition parties in Slovakia.

KazMunayGaz and Hungary’s MOL agree oil volumes, but pricing talks delay shipments

Kazakhstan’s state oil company KazMunayGaz and Hungary’s MOL Group have agreed on the volume of Kazakh crude oil to be delivered to Budapest via pipeline, though pricing negotiations are still ongoing, Upstream reported on July 14.

NIS sanctions talks drag on as Serbia caught between US and Russia

Serbia is in talks with the United States to secure a fifth waiver from sanctions targeting its sole oil company NIS, but negotiations are proving difficult.

Slovak PM Fico expects deal with EU over sanctions against Russia on July 15, and threatens to continue blocking sanctions if none made.

Slovak populist Prime Minister Robert Fico expects an agreement between the European Union and Slovakia could be reached on Tuesday, July 15, over Slovakia lifting its veto of the EU’s 18th round of sanctions against Russia.

Slovakia seeks EU guarantees on Russian gas phase-out ahead of sanctions deal

Slovakia is pushing for firm guarantees from the European Commission and key EU member states over the future of its energy security, as it links this condition to its support for a fresh round of sanctions on Russian gas imports.

Slovenia’s Petrol under fire for gas station closures amid blackmail accusations

Four smaller gas stations run by Slovenian fuel retailer Petrol remain closed, with the company’s management staying silent about future plans.

EU mulls further cut in Russian oil price cap

The EU is considering a proposal to reduce the price cap on Russian oil from the current $60 per barrel and to introduce a mechanism for reviewing the cap every three months based on market trends.