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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Norway foresees record oil and gas investments in 2025 amid goals to maintain output
Norway’s ambitious oil and gas sector is expected to see record investments in 2025, during which the country will pursue a number of projects designed to meet continuing gas demand and keep the sector flourishing for decades.
Trump gives green light to restart LNG export permit approvals
The US LNG exports sector received long-awaited good news with the approval on February 14 of the first LNG export permit granted by President Donald Trump since his return to the White House.
Russian foreign minister accuses West of trying to destabilise Serbia
Sergei Lavrov slams sanctions on oil company NIS and claims ongoing protests are a foreign-backed effort to instigate a ‘colour revolution’ in Serbia.
Serbia and Hungary seek stronger energy ties with joint oil pipeline project
Serbian President Aleksandar Vucic and Hungarian Prime Minister Viktor Orbán agreed on February 17 that the construction of a new oil pipeline connecting their two countries is of strategic importance.
Iraqi oil minister says KRG crude exports to Turkish port will resume next week ending two-year suspension
Oil exports from northern Iraq’s semi-autonomous Kurdistan region will start flowing to the Turkish Mediterranean coast next week following a suspension of almost two years, Iraq’s Oil Minister Hayan Abdel Ghani said on February 17.
Ukrainian drone strikes Kazakhstan’s main oil export pipeline route in Russia
Attack comes on same day Hungarian and Kazakh top diplomats back idea of Ukraine conflict talks between Putin and Trump.
Istanbul-listed Petkim’s port unit obtains $140mn three-year loan from JPMorgan at SOFR+4.35%
Port operator Petlim, a unit of Turkish petrochemical producer Petkim (PETKM), has obtained a $140mn three-year loan from JPMorgan.
Serbia to increase crude oil imports by 25% in 2025
The threat of sanctions has prompted Serbia to adjust its energy import strategy, with an increased focus on securing alternative oil sources to ensure energy security in 2025 and beyond.
MOL successfully tests production and sustainable aviation fuel at Slovakian unit
Hungarian oil and gas company MOL said it successfully tested the production of new fuel types at a refinery managed by its Slovakian subsidiary, Slovnaft in Bratislava.
Gas transit through Slovakia to Ukraine spikes by 60% in three days
Shipments of gas to Ukraine through Slovakia increased by 60% on February 13 compared to the beginning of the week, February 10.
Biggest Turkish refiner Tupras reportedly restricting Russian oil purchases amid tightened sanctions
Biggest Turkish refiner Tupras is reportedly placing restrictions on its purchases of Russian oil and fuels in order to steer clear of potential breaches of US sanctions.
Bulgaria’s Anti-Corruption Fund refers new tender for Chiren gas storage expansion to EPPO
Bulgaria’s Anti-Corruption Fund NGO said on February 12 it has referred the new tender for expansion of the Chiren underground gas storage to the European Public Prosecutor’s Office and the European Climate Agency.
US Energy Department offers fresh figures on Caspian Basin energy reserves & production
A comprehensive overview of the regional energy sector.
UK sees further rows over energy policy
Starmer reiterated once more that oil and gas is part of the future mix for decades to come.
BP's "big reset"
"We now plan to fundamentally reset our strategy and drive further improvements in performance, all in service of growing cash flow and returns. It will be a new direction for BP,” CEO Auchincloss said.
Albania’s gas plans in the doldrums
Beyond providing the stable and dispatchable baseload energy supply Albania lacks, gas could also spur economic growth and industrial development, in the right conditions.
Slovakia spends €4bn on state energy aid
The Slovak state spent more than €4bn on energy aid from the end of 2022 until the end of last year, a calculation by online energy news outlet Energie Portal shows. Costs include subsidising gas, electricity and heat prices.
European gas prices hit two-year high on colder weather
The surge is driven by a confluence of factors, including intensified demand as a result of colder weather, supply disruptions and weaker power generation from renewables.
TotalEnergies pushes for Europe to secure long-term US LNG deal
French supermajor TotalEnergies is keen to assist with the sale of more US LNG to Europe, although the company’s CEO Patrick Pouyanne warned that it would be wise to do so via a long-term agreement.
Romania has enough gas reserves to last the winter, energy minister says
Romania has 1.35bn cubic metres of natural gas in storage, covering 43.4% of capacity, and is expected to have over 500mn cubic metres left by the end of March, Energy Minister Sebastian Burduja said.
Russian oil flow to EU via Ukraine down 15% last year
A potential peace or at least a ceasefire deal may mean Hungary and Slovakia, the only two EU countries relying on Russian oil via Druzhba, may face less pressure going forward to abandon these imports.
Russian gas begins flowing to Slovakia via TurkStream
Russian natural gas has begun flowing to Slovakia via the TurkStream pipeline, Slovak newspaper Dennik reported on February 6, citing Vojtech Ferencz, chairman of the country’s national gas transmission system operator SPP.
Gazprom divests Austrian and Italian gas trading units to Dubai-based investment firm
Gazprom has sold its Austrian and Italian gas trading subsidiaries to Dubai-based investment firm EGH Gulf, established less than a year ago.
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