EurOil - Europe Oil & Gas

Shell offers to exchange up to $6.4bn in outstanding notes

The exchange offers cover six series of notes issued by Shell Finance US and guaranteed by Shell, with maturities ranging from 2028 to 2051.

Azerbaijan tops BP's payments to governments in 2025

BP paid almost $10bn to the government of Azerbaijan – its biggest fiscal contribution compared with any other government.

Russian court claims Gazprom's nationalised German unit cannot continue arbitration in Switzerland

A Russian court has barred German firm SEFE Marketing & Trading from continuing arbitration proceedings against Russian gas supplier Gazprom in Switzerland.

Norwegian oil workers call off strike

Norwegian oil companies and labour unions have reached a wage agreement, averting strike action that could have disrupted oil and gas production at a time of heightened global supply concerns.

Aker BP raises stake slightly in Norway's Johan Sverdrup field

Aker BP has slightly increased its stake in the Johan Sverdrup oil field after a review of ownership shares among the field’s partners.

Geopolitical crises are the new norm for energy markets

Geopolitical disruptions are becoming a permanent feature of global energy markets rather than isolated crises.

OPEC+'s symbolic quota raise

OPEC+’s latest decision to raise oil production quotas is unlikely to have much immediate impact on global supply.

Russia's Gazprom extends gas supply deals with Serbia and Bosnia's Serb Republic

Russia’s Gazprom has agreed to extend gas supply contracts with Serbia and Bosnia’s Serb Republic, the company said last week following talks at the St Petersburg International Economic Forum.

MOL gets US extension for talks over acquiring stakes in NIS

Hungary's MOL granted a few more days to acquire a controlling stake in Serbia's NIS as three-party talks with Serbia and NIS' Russian owners are advancing to the final stages.

Bulgaria curbs powers of manager overseeing Lukoil assets

Parliament has approved legal amendments to limit the powers of a state-appointed manager overseeing local assets of Russian oil group Lukoil, introducing judicial oversight and stricter state control.

Legislature told gas pipeline linking Turkey and northern Cyprus to go operational in 2028

A natural gas pipeline that will link Turkey and northern Cyprus will go operational in 2028, the northern territory’s ‘public works minister’ Erhan Arikli reportedly told the Turkish Cypriot legislature earlier this week.

Serbia says Gazprom to extend gas supply deal for three months

Serbia has secured a three-month extension of its gas supply arrangement with Russia after June 30, Energy Minister Dubravka Dedovic Handanovic said on June 4 following talks with Gazprom CEO Aleksei Miller in St. Petersburg.

Azerbaijan gas covers 60% of Bulgaria's needs as green corridor feasibility study set for 2026

Hungary’s MOL seeks more time for talks to buy Serbia’s NIS

MOL has asked US authorities for a one-month extension to complete talks to acquire a majority stake in Serbia’s oil company NIS.

Bulgaria replaces special administrator overseeing Lukoil assets

Bulgaria’s government has replaced the special administrator overseeing the local assets of sanctioned Russian oil group Lukoil, appointing a new manager to supervise operations of the country’s key refinery and fuel businesses.

Norway's Eldorado snaps up US offshore driller Vantage in $258mn deal

Norway-based Eldorado Drilling has agreed to acquire US offshore drilling contractor Vantage Drilling in a transaction valuing the company's equity at approximately $258mn.

Turkey renews gas arrangement with Azerbaijan, secures 33 bcm over 15 years

Turkey has renewed its gas import arrangement with Azerbaijan, securing supplies of 33bn cubic metres (bcm) of natural gas from Azerbaijan over 15 years.

Romania's Romgaz agrees €69mn takeover of Azomureș fertiliser assets

Rubio backs Trans-Caspian gas pipeline proposal in meeting with Turkmenistan’s top diplomat

Infrastructure could boost European energy security, though Russia could move to block it.

North Macedonia extends fuel tax relief until June 15

Canada’s Ksi Lisims signs 20-year LNG supply deal with Germany’s SEFE

A 20-year LNG supply deal has been signed by Canada’s Ksi Lisims project with German state-run firm Securing Energy for Europe.

Turkey cut Urals imports to lowest level in 18 months in May

Turkey cut imports of Russia’s Urals crude from Baltic and Black Sea ports in May to the lowest level in almost 18 months, as the grade loses some of its price advantage.

BP set to sign key new Azeri upstream deal

BP’s expected Babek deal could unlock one of Azerbaijan’s biggest undeveloped gas resources, but new volumes for Europe are years away.

Russia's Dmitriev says Europe needs Russia to survive

Russia's Kirill Dmitriev said Europe needs Russia to survive amid an energy crisis, after Bloomberg reported the EU is weighing a temporary freeze of its $44.10 price cap on Russian oil over the Iran war.

Poland's Orlen beats Q1 expectations on retail resilience, lowest EU fuel prices

Poland’s largest energy multi-utility Orlen reported Q1 results that beat market expectations on May 28 while offering Polish consumers the lowest fuel prices in the EU in the times of oil market volatility.