EurOil - Europe Oil & Gas

Turkish, Greek leaders meet and plan to improve relations

Turkey’s President Recep Tayyip Erdogan on 12 May welcomed the prime minister of neighbouring Greece, Kyriakos Mitsotakis, to Ankara.

Russian attacks deter European gas traders from Ukrainian gas storage

European gas market analysts are intensively monitoring Ukrainian energy storage amidst ongoing attacks on infrastructure by Russia and less attractive financial spreads compared to the previous year.

Subsea7 awarded major contract in development of Turkey’s first deepwater gas field

EurOil: EU proposes sanctions on trans-shipment of Russian LNG

Naturgy says gas supply contracts with Algeria unaffected by shareholding sales

Spanish natural gas firm Naturgy said supply contracts with Algeria include no clauses that would be affected by changes to its shareholding structure, amid talks with Abu Dhabi energy firm TAQA of a potential full takeover of Naturgy.

Serbia inks €2.7bn energy deals with Chinese firms

Serbian Minister of Mining and Energy Dubravka Djedovic Handanovic announced on May 9 that two major deals, with a total value of around €2.7bn, were signed during Chinese President Xi Jinping’s visit to Serbia earlier this week.

Estonian government puts new oil shale mining permit procedures on hold until end of 2025

The Estonian government has approved amendments to the Earth's Crust Act, suspending the procedures for new oil shale mining permits until the end of 2025, when the Climate Act will be drafted.

EU turning a blind eye to Russian LNG flowing through its terminals

Europe has been turning a blind eye to a fifth of Russia’s LNG output that is flowing through EU ports, either to be consumed by member states or sent on to customers around the world, in what is a lucrative trade for the Kremlin.

MOL Q1 earnings report misses target

Clean Ebitda of Hungarian oil and gas giant MOL edged up 1% to $718mn in Q1, but fell 27% on a quarterly basis as lower gas prices in upstream and government levies booked in the first quarter weighed. MOL left its 2024 guidance unchanged.

BSOG goes ahead with 3GW offshore wind project in Romania’s Black Sea

BSOG, which launched natural gas extraction in Midia perimeter in Romania’s shallow Black Sea waters (MGD Project), decided to go ahead with its offshore wind project in the same place after completing the feasibility study.

Turkey signs LNG deal with US supermajor ExxonMobil placing question mark over Russian gas supplies

Ankara has ambition to make country an energy supply powerhouse based on re-exports.

Cyprus seeks timetable from Chevron for Aphrodite development, talks with Eni move ahead

Cyprus expects to launch offshore gas production in 2027. Whether that will be from Aphrodite or another field is unclear.

EU proposes sanctions on trans-shipment of Russian LNG

The European Union is considering placing its first sanctions on Russian LNG.

What do EU methane rules mean for global gas suppliers?

There is particular complexity in how the rules will be applied for US LNG exports, as exporters often do not produce the gas that they supply globally, and lack the data on emissions upstream.

UK, Scottish authorities urged to do more to prevent Grangemouth closure

The UK and Scottish governments face growing calls to do more to prevent the closure of Scotland’s only oil refinery in Grangemouth.

Shell profits beat forecasts in Q1 on strong LNG, oil trading performance

Profits at Shell came in better than expected in the first quarter, on the back of strong performance at its LNG and oil product businesses.

UK offers up 31 more oil, gas licences

The UK’s North Sea Transition Authority has offered up a further 31 oil and gas licences as part of its 33rd licensing round

Denmark's Tyra field faces delays

It will take until the fourth quarter of this year for Denmark’s largest gas field to return to peak production, instead of mid-year as previously planned.

ConocoPhillips achieves first oil at North Ekofisk off Norway

US major ConocoPhillips has reported first oil at the Eldfisk North project in the Norwegian North Sea some weeks ahead of schedule.

EU LNG imports down 8% in January-April: GIE

EU LNG imports were down 8% year on year in January to April at 40.8bn cubic metres, coinciding with a climb in Russian pipeline gas supplies.

Azerbaijan seeks EU long-term guarantees, financial support for gas projects

Azerbaijan is seeking long-term guarantees and available financial support from the EU to invest in its gas production and expand exports to the bloc, its president Ilham Aliyev said in late April.

Sweden says no need for international probe into Nord Stream blasts

Sweden has said there is no need for an international investigation into the explosions that ruptured the Nord Stream 1 and 2 gas pipelines in September 2022.

EurOil: Italy vows not to stand in way of EU sanctions on Russian LNG

MOL bows to government pressure on slashing fuel prices on a voluntary basis

Hungary’s motor fuel prices have moved closer to the average in neighbouring countries with the third cut in the wholesale price in less than a week. The government welcomed MOL’s decision to reduce prices at petrol stations from 4 May.

Turkey reportedly still loading Azerbaijani oil for Israel despite “total trade ban”

Trade ministry said “all products” are subject to boycott, but tankers on Ceyhan to Haifa crude export route appear unaffected.