EurOil - Europe Oil & Gas

Category
Oil & Gas

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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Azerbaijan suspends gas flows to Serbia

12 January 2025

Azerbaijan has halted gas deliveries to Serbia, leaving the Balkan nation without 1.7mn cubic meters of daily supply.

Swiss court gives Nord Stream 2 operator more time to avoid bankruptcy

12 January 2025

A Swiss court has ruled to extend the deadline for the Russian operator of the part-destroyed Nord Stream 2 gas pipeline to restructure its debts from January 10 until May 9.

EU gas prices hover near $500 per 1,000 cubic metre mark following end of transit through Ukraine

12 January 2025

European natural gas prices have averaged just under $500 per 1,000 cubic metres so far this month, about 50% higher than the same period of last year.

Slovakia’s Fico steps up anti-Ukraine rhetoric over gas cut-off

10 January 2025

Slovak premier threatens to veto Ukraine votes at EU level.

EU imports of LNG from Russia hit record high in 2024

9 January 2025

Europe’s addiction to Russian LNG continued in 2024, with the EU purchasing a record 17.8mn tonnes of the super-chilled fuel from Russia.

Equinor’s Hammerfest LNG plant shutdown extended by 10 days

9 January 2025

Norwegian state-owned energy firm Equinor has extended the shutdown of its Hammerfest LNG facility by 10 days to last until January 19.

Shell lowers LNG estimates for fourth quarter of 2024

9 January 2025

Supermajor Shell has lowered its forecast for LNG production in the fourth quarter of 2024, the company revealed in its update note.

Incoming US President Trump insists that EU buy more US LNG

8 January 2025

Trump is keen to export more gas and oil, especially to Europe where a stoppage in Russian gas flows could be filled with US LNG.

OMV Petrom reportedly sells 6.75bn cubic metres of Neptun Deep gas to Germany’s Uniper

8 January 2025

Austria's OMV has reportedly struck a deal to supply Germany's Uniper with gas from the Neptun Deep Black Sea project, where it holds a 50% stake and which it operates through its Romanian subsidiary OMV Petrom.

Romania ordered to pay €85mn to ex-owner of RAFO refinery in ICSID ruling

8 January 2025

The International Centre for Settlement of Investment Disputes (ICSID) has ruled Romania should compensate the former owner of the now-defunct Romanian RAFO refinery with nearly €85mn, the Ministry of Finance confirmed.

Kazakhstan’s KazMunayGas reportedly bids for Lukoil’s Bulgarian asset

7 January 2025

Lukoil aims to sell Bulgarian refinery and petrol stations after Sofia banned imports of Russian crude oil.

US gains most from "energy market redivision" in Europe, says Russian foreign ministry

7 January 2025

The US has gained the most from the "redivision of the energy market” in Europe, Russian Foreign Ministry spokesperson Maria Zakharova told Russian media on January 2.

Serbia forms coordinating body to safeguard energy supply amid US sanctions threat

7 January 2025

The Serbian government announced on January 5 the establishment of a coordinating body to ensure the country’s oil and gas supply amid fears of impending US sanctions targeting Serbia's oil industry.

Serbia braces for possible US sanctions on Russian-owned oil company NIS

6 January 2025

Serbian government braces for the potential economic and political ramifications of the US' decision as it seeks to balance relations with Russia and the West.

Hungary’s MOL wants to buy Lukoil’s Bulgarian assets, Orban says

5 January 2025

Hungarian oil company MOL Group is bidding to buy Lukoil-owned oil refinery in Bulgaria, the state broadcaster BNT reported on December 23

Russian gas transit through Ukraine ends, with Europe meeting the new year with 5% less gas

1 January 2025

Transit of Russian natural gas through Ukraine ended in the early hours of January 1, depriving the EU of about 5% of its gas supply, after last-hope efforts led by Slovakia to ensure continued flow failed.

Slovakia faces cut-off of Russian gas pipeline supplies

31 December 2024

Robert Fico’s attacks on Kyiv for ending gas transit have more to do with his close political ties with Orban and Putin, the cosy business links Slovakia has with Russia, and his domestic political problems, rather than energy security.

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