EurOil - Europe Oil & Gas

UK’s Centrica buys Grain LNG terminal

British energy firm Centrica has agreed to purchase the UK’s largest LNG terminal, Grain LNG from electricity and gas utility National Grid for GDP1.7bn.

Serbia’s NIS is preparing for a state of emergency

Employees at Serbia’s state-linked oil and gas company, Naftna Industrija Srbije (NIS), have been instructed to prepare for operations under potential emergency or wartime conditions, according to an internal memo obtained by local news agency Beta.

Turkish-Azerbaijani consortium leads race for Lukoil’s Bulgarian assets

A consortium comprising Azerbaijan’s state energy company SOCAR and Turkey’s Cengiz Holding has emerged as the preferred bidder for the Bulgarian operations of Russia’s Lukoil.

Bulgaria’s Uni Energy to acquire NIS petrol network for over €30mn

NIS, majority-owned by Russia’s Gazprom and its subsidiary Gazprom Neft, is divesting its Bulgarian assets amid increasing pressure from secondary US sanctions.

Kazakhstan weighs Baku–Supsa pipeline option to diversify oil exports

Kazakhstan is exploring the possibility of transporting crude oil through the Baku–Supsa pipeline corridor running from Azerbaijan to the Georgian Black Sea coast as part of its strategy to expand export routes.

Asia drives global refining capacity growth

Global refining capacity is rising despite a decline in the number of refineries, with Asia and the Middle East leading growth through large, integrated projects.

Circle K obtains Astarte-nafta fuelling stations in Latvia

European refineries get margin boost from low global diesel inventories

Low global diesel inventories are keeping refining profits elevated across Europe.

Finland charges crew of suspected Russian shadow fleet tanker for subsea cable damage

Finland has filed criminal charges against the captain and two officers of the Eagle S oil tanker, accused of damaging five undersea cables in the Gulf of Finland last December.

BP eyes restart of UK's mothballed Murlach oil and gas field

BP plans to restart production at the Murlach field in the North Sea, aiming to extract oil and gas for at least a decade.

Norway officially opens Castberg oilfield in Barents Sea

Norway on August 8 officially opened the Johan Castberg oil field in the Barents Sea, the country’s northernmost producing field and its second oil development in the Arctic region.

Norway announces new frontier oil and gas licensing round

It follows the completion of the previous frontier round four years ago.

Bulgaria finds a buyer for Gazprom petrol stations

Bulgaria’s Win Energy, the operator behind the Avia brand of fuel stations, is set to acquire the network of Gazprom-branded petrol stations owned by Serbia’s oil company NIS.

EU gas storage exceeds 71% capacity

EU underground gas storage sites held around 77bn cubic metres of gas as of August 9, or 71.29% of capacity.

ICGB secures permit for expansion of Greece-Bulgaria gas interconnector

The operator of the Greece-Bulgaria gas interconnector, ICGB, said on August 8 it has obtained a construction permit from Bulgarian authorities for Lot 1 of its capacity expansion project.

Hong Kong’s CK Infrastructure closes in on acquiring UK’s Grain LNG terminal

Hong Kong-based CK Infrastructure is the frontrunner to acquire Grain LNG import terminal from the UK’s National Grid.

Lower energy prices weigh on MOL’s earnings in Q2

Montenegro may store oil reserves abroad due to lack of local capacity

Montenegro’s government plans to store its mandatory oil reserves in privately owned reservoirs or abroad, as state-owned facilities in Bar are not yet ready, according to the Oil Reserves Formation Plan for 2025, adopted last week.

Brazilian deepwater yields BP's biggest oil and gas discovery this century

BP has unveiled its most significant oil and gas discovery in 25 years following successful drilling at the Bumerangue prospect in Brazil's deepwater Santos Basin.

EU-US $750bn energy deal will undermine bloc's climate targets

The EU’s plan to invest approximately €700bn in oil, natural gas and nuclear imports from the US over the next three years has raised concerns that it could undermine the bloc’s climate targets for 2030.

Gazprom gas sales to Europe slump to 50-year low

Gazprom’s natural gas deliveries to Europe have plummeted to their lowest levels since the 1970s, further diminishing what was once one of the Kremlin’s biggest revenue streams.

Serica suffers sharp output decline amid Triton downtime

UK-based Serica Energy reported a sharp decline in first-half production on August 5, owing to prolonged downtime at the Triton FPSO vessel.

Petrofac secures extended creditor backing for restructuring plan

UK-based oil and gas engineering group Petrofac has secured an extension of creditor backing for its financial restructuring plan after a UK court setback threw its recovery process into uncertainty.

Austria's OMV reports "solid" sales in Q2

The company described the result as “solid,” stating it was able to weather weaker commodity prices and continued macroeconomic uncertainty thanks to its integrated energy model, which provided a buffer against volatility.

BP announces sweeping cost review

BP’s share price continues to lag peers, and questions linger over its ability to strike a balance between energy transition ambitions and investor demands for consistent returns.