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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MOL eyes Ukrainian pipeline to cut Russian oil dependence ahead of EU ban
Hungarian energy group MOL is seeking access to Ukraine’s Odessa-Brody pipeline in a bid to reduce Hungary’s reliance on Russian crude before the EU’s planned import ban comes into force in 2027.
Bulgaria probes Botas gas deal
Bulgaria’s anti-corruption body raided offices of the energy ministry and the gas companies Bulgargaz and Bulgartransgaz in an investigation of a contract with Turkish state-owned gas operator Botas.
BALKAN BLOG: Can Croatia become a European energy and transport hub?
Croatia has ambitions to become a gateway for energy and trade in Europe, but questions remain about how far this can be achieved in a competitive field.
North Macedonia launches construction of €60mn gas interconnector project with Greece
North Macedonia marked a significant milestone in its energy infrastructure on July 9 with the official launch of construction works for the long-awaited gas interconnector with Greece, a project valued at approximately €60mn.
Serbia's NIS adds Gazprom Neft executives to board
Serbian oil and gas producer NIS has appointed two executives from Gazprom Neft to its board of directors.
Kuwait Petroleum International opens Europe's largest service stations in Luxembourg
Kuwait Petroleum International announced the start of operations at its two new service stations, Berchem East and West, located on the motorway in Luxembourg, on July 8. These stations are recognised as the largest and most prominent in Europe.
Azerbaijan, Slovenia discuss gas supply expansion and green energy cooperation
According to a press release by Azerbaijan's Energy Ministry, both sides expressed satisfaction with the development of bilateral relations, which will mark their 30th anniversary in 2026.
Just 111 of the world’s biggest companies are causing $28 trillion worth of climate damage, says study
Just 111 of the world’s largest fossil fuel companies are collectively responsible for an estimated $28 trillion in climate-related economic damage, and just ten of those companies are responsible for half of that total.
Albania issues arrest warrants in tax, money laundering probe targeting Bankers Petroleum
Chinese-owned Bankers is the developer of Albania's Patos-Marinza oil field, one of the biggest onshore oil fields in Europe.
TotalEnergies confirms sale of North Sea assets to Prax still pending
France’s TotalEnergies has confirmed that its previously agreed sale of West of Shetland offshore assets to Prax Group has not been completed.
Ascent wins long-running dispute with Slovenian joint venture partner
London-listed Ascent Resources has secured a favourable arbitration ruling in its long-running dispute with Geoenergo.
UKOG sheds oil and gas assets in pivot to clean hydrogen
London-listed UK Oil & Gas has agreed to sell its wholly-owned subsidiary UKOG GB to Servatec Holdings for £400,000 in cash ($545,000).
Ithaca wraps up $193mn takeover of JAPEX's UK operations
The deal increases Ithaca’s stake in the key Seagull field operated by BP.
MET Group acquires German gas storage operator KGE
Swiss-based energy company MET Group has acquired 100% of Kommunale Gasspeichergesellschaft Epe (KGE), a gas storage operator located in North Rhine-Westphalia.
OMV Petrom strikes gas onshore Romania
The find was confirmed by the 1 Spineni exploration well, drilled to a depth of around 4,800 metres.
Germany lowers official gas storage target
However, a colder-than-expected winter or renewed geopolitical disruptions could still expose the country to energy risks.
Poland, Ukraine extend winter gas guarantee deal
Ukraine and Poland have extended their agreement on guaranteed natural gas supply volumes via the Polish gas transmission system.
Russia’s LNG exports fall in first half of year
Russia’s LNG exports have dipped by 4.4% over the first half of the year.
Global LNG liquefaction capacity to grow 37% by 2028: GIIGNL
Global LNG liquefaction capacity is expected to grow by 37% to over 672.1mn tonnes per year by 2028 as producers commission around 180mn tpy of new capacity.
OMV Petrom discovers natural gas near Craiova
Romania’s oil and gas group OMV Petrom said on July 3 it has discovered a new natural gas reservoir in Spineni, located around 70 km north-east of Craiova.
Serbia-Hungary oil pipeline construction set for 2026 start
Serbia and Hungary have agreed on the technical specifications for a new cross-border oil pipeline, with construction set to begin in 2026.
Turkey hikes gas prices by 25% for households
Turkey’s government-run natural gas monopoly Botas has hiked gas prices for households by 24.6% on average. The final gas prices for industrial enterprises was also hiked by 7.86% on average.
TotalEnergies aims Mozambique LNG construction restart by December 2025, first gas in 2029
French energy super major TotalEnergies plans to resume construction of its $20bn liquefied natural gas (LNG) project in northern Mozambique by December 2025 after a four-year stoppage triggered by security concerns
Equinor, partners greenlight $1.23bn Sverdrup expansion in Norway
Norway’s Equinor and its partners have approved a NOK13bn ($1.23bn) investment to expand the Johan Sverdrup oilfield in the North Sea, in a move that is expected to add up to 50mn barrels of oil equivalent (boe) in recoverable reserves.
Shell, Equinor unveil new "Adura" UK upstream partnership
The pair have set their sights on creating the leading UK North Sea producer.
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