Oil & Gas

The Slovak government approved a proposal for the introduction of a special tax on Russian oil. The Finance Minister wants to collect 280 million euros per year from Slovnaft.

As the EU struggles to reach a consensus over an embargo on Russian oil, Hungary demands financial guarantees or an exemption for pipeline imports to join the bloc's proposed embargo.

The EIB and Transgaz have signed an agreement to prepare and develop a decarbonisation strategy for Romania’s gas network.

PGNiG Upstream Norway, which holds interests in 59 licenses on the Norwegian Continental Shelf plans to produce an additional volume of approximately 0.5 billion bcm of natural gas this year.

Poland has made serious progress in improving the security and sustainability of its energy system in recent years. However, for the IEA a major acceleration in its clean energy transition is needed.

Gas flows into Europe from Russia were put under further pressure after the Gas TSO of Ukraine (GTSOU) has called force majeure and suspended Russian gas flows via key transit pipeline Sokhranivka that runs through Russian occupied territory in the East of the country transiting almost a third of Russian gas supplies to Europe.

Hungarian oil and gas company MOL is showing solidarity with war-torn Ukraine by supporting the continuous and secure operation of the country's energy network through asset support.

The President of PKN Orlen met with the President of Saudi Aramco to discuss further strengthening their cooperation.

Hungary's energy supply is currently uninterrupted, and the country is prepared to deal with a possible natural gas supply disruption.

In a joint position, ACER and CEER say that the Commission’s proposals on mandatory gas storage levels are overly oriented towards national storage capacity, which may create a disproportionate burden on some Member States.

While presenting the sixth package of sanctions, the European Commission is proposing a ban on Russian oil, which follows the latest ban on coal.

Romgaz signed the contract for the acquisition of Exxon Mobil's 50 per cent stake in the Black Sea offshore project Neptun Deep for 1.06 billion US dollars.