EurOil - Europe Oil & Gas
MOL announces successful oil drilling in central Hungary
Hungarian oil and gas company MOL announced the successful drilling of a well in central Hungary on April 30. The new well will further boost the company’s domestic production, which accounts for a third of upstream output.
Turkey begins talks with ExxonMobil on LNG deal in quest to diversify gas supply
In an effort to diversify its supply portfolio and reduce its dependence on Russian gas and also strengthen national security, Turkey, a Nato member, is now in the midst of discussions with the US supermajor.
Italy vows not to stand in way of EU sanctions on Russian LNG
Italy’s Energy Minister Gilberto Pichetto Fratin says Italy has “no reason to oppose a process of new sanctions" placed on LNG from Russia.
Turkey seeks LNG from ExxonMobil, starts pipeline gas stream to Hungary
Turkey is seeking to secure a new LNG import deal with ExxonMobil, according to a report in the Financial Times. It is part of Turkey’s plans to diversify its gas imports and reduce its reliance on Russian gas.
Poland’s Tusk orders thorough probe into Orlen’s $370mn botched oil deal
Orlen's PiS-appointed CEO reportedly disregarded warnings from the company's security team about head of Swiss subsidiary's alleged Hezbollah links.
Russian missiles targeted gas facilities supplying EU, says Zelenskiy
President Volodymyr Zelenskiy has condemned an April 27 Russian attack on Ukraine’s energy sector, saying that the assault targeted gas facilities crucial for supplying the EU.
Turkey reportedly in talks with ExxonMobil for LNG that would help curb Russian energy dependence
INA reported €12mn net profit in 1Q24
TotalEnergies CEO warns Russian LNG sanctions would trigger price spike
EU sanctions on the Yamal LNG project would trigger a spike in global gas prices, raking in profits for global suppliers including TotalEnergies.
Kretinsky’s EPH reports Ebitda of €3.6bn in 2023
MOL closes transaction to buy 15% of Waberer’s
JT Grup Oil gets Bucharest Stock Exchange permission to list its shares after 28.5% IPO
Bulgaria to lose €665mn under recovery plan after delaying liberalisation of power market
Experts suggest the country could lose all of the remaining €4.4bn allocated under the recovery plan over delayed or failed reforms.
Romania’s Neptun Deep project advances towards 2027 debut
Energy security for Romania and its Eastern European partners is due to see a noted improvement as momentum builds at Neptun Deep. Once in operation, the Black Sea project could become the largest gas producer in the European Union.
Poland’s Orlen cancels Venezuelan oil contracts amidst financial turmoil
Polish oil giant Orlen finds itself entangled in a financial quagmire as it cancels contracts worth over $400mn with Venezuela amid a swirl of missed deliveries and questionable dealings, as the US reimposes sanctions on Caracas.
Estonian-Finnish gas link comes back online after six-month closure
The Balticconnector gas pipeline linking Finland and Estonia has returned to operation after its closure in October last year owing to a rupture.
Equinor’s Hammerfest LNG shut down over gas leak
Norwegian energy major Equinor shut down and evacuated its Hammerfest LNG plant due to a gas leak that occurred during maintenance.
UK fines NEO Energy for breaching methane limits
NEO Energy, the UK arm of private equity-backed HitecVision, has been fined GBP100,000 for venting more methane than permitted at the Donan, Lochranza, and Balloch fields in the North Sea.
SABIC cuts capacity at Dutch petchems plant
Saudi Aramco’s petrochemicals arm has permanently closed one of two naphtha crackers at its complex at the Chemelot industrial park in Geleen, the Netherlands.
Scotland drops 2030 emissions target
The Scottish government will abandon a key climate target to reduce greenhouse gas emissions by 75% by 2030, versus 1990s level.
ExxonMobil to sell French refinery by year-end
ExxonMobil’s French unit Esso SAF plans to sell its Fos-Sur-Mer refinery near Marseille in France, together with fuel terminals in Toulouse and Villette, by the end of the year.
Romanian fuel distribution company JT Grup Oil plans Bucharest IPO
IPO announcement comes after Premier Energy announced a similar step earlier in April.
Aker BP launches Norway's Hanz oilfield
Norwegian operator Aker BP has brought on stream the Hanz field in the country’s North Sea zone, after tying the project back to an existing platform.
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