Amid an expected LNG surplus from 2026, investors are reallocating positions toward the EU carbon market, betting on tighter supply and a bullish price trajectory.
Germany plans to finalise the €5.8bn ($6.34bn) purchase of a 25.1% stake in TenneT Germany to strengthen its control over critical national power grid infrastructure.

Hungary doubles oil shipments to Serbia amid US sanctions on refinery

Hungary increases oil product exports to Serbia to offset the imminent shutdown of the NIS refinery, threatened by US sanctions over its Russian majority ownership.
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Global South Utilities is investing $1 billion in new solar, wind and storage projects to strengthen Yemen's energy capacity and expand its regional influence.
The Irish government has provisionally awarded development rights for the Tonn Nua offshore site to the Ørsted-ESB joint venture under a 20-year contract supporting a 900 MW project.

TÜNAŞ and KEPCO sign deal to accelerate nuclear development in Türkiye

Türkiye and South Korea have signed a memorandum of understanding to jointly explore nuclear power plant projects, marking a strategic step in the long-term development of Türkiye's energy infrastructure.
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Faced with falling oil production, Pemex is expanding local refining through Olmeca, aiming to reduce fuel imports and optimise its industrial capacity under fiscal pressure.
ENEOS Renewable Energy will develop two solar installations totalling 4MW on a decommissioned JR Hokkaido line, under a power supply agreement signed with the railway company and the regional electric utility.

Axiom maintains $110mn lawsuit against Tidewater over Canadian asset dispute

Axiom Oil and Gas is suing Tidewater Midstream for $110mn over a gas handling dispute tied to a property for sale in the Brazeau region, with bids due this week.
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RWE has commissioned a project combining 200 MW of solar and 100 MW of battery storage in Milam County, Texas, addressing the growing electricity demand and expanding its operations in the United States.
Brazil’s state oil company will reduce its capital spending by 2%, hit by falling crude prices, marking a strategic shift under Lula’s presidency.

TotalEnergies sells Bonga stake for $510mn to Shell and Eni

TotalEnergies has finalised the sale of its 12.5% stake in Nigeria’s offshore Bonga oilfield for $510mn, boosting Shell and Eni’s positions in the strategic deepwater production site.
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Norway plans up to $740mn to fund verified emission reductions, supporting Senegal’s entry into cooperation frameworks under the Paris Agreement.
British International Investment and FirstRand partner to finance the decarbonisation of African companies through a facility focused on supporting high-emission sectors.

Ghana restructures its power sector around domestic gas to contain deficit

The Ghanaian government is implementing a reform of its energy system focused on increasing the use of local natural gas, aiming to reduce electricity production costs and limit the sector's financial imbalance.
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Serbia is preparing a budget law amendment to enable the takeover of NIS, a refinery under US sanctions and owned by Russian groups, to avoid an imminent energy shutdown.
Norsk Hydro plans to shut down five extrusion plants in Europe in 2026, impacting 730 employees, as part of a restructuring aimed at improving profitability in a pressured market.

Tokyo Gas commits to importing 1 MTPA of US LNG over 20 years

Tokyo Gas has signed a 20-year agreement with US-based Venture Global to purchase one million tonnes per year of liquefied natural gas starting in 2030, reinforcing energy flows between Japan and the United States.
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Budapest moves to secure Serbian oil supply, threatened by Croatia’s suspension of crude flows following US sanctions on the Russian-controlled NIS refinery.
A joint vehicle between RWE and Apollo injects €3.2bn into the 25.1% stake in Amprion to support a €36.4bn investment plan in German power grids by 2029, consolidating a hybrid public-private model.
French energy group Engie wins its second-largest global battery storage project with a capacity of 280 MW, awarded by a state-owned company in Gujarat, India.
Commodities trader BB Energy has cut over a dozen jobs in Houston and will shift some administrative roles to Europe as part of a strategic reorganisation.

Solar output overtakes natural gas in California during peak daytime hours

In California, electricity production from natural gas is falling as solar continues to rise, especially between noon and 5 p.m., according to 2025 data from local grid authorities.
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In its latest review, the International Energy Agency warns of structural blockages in South Korea’s electricity market, calling for urgent reforms to close the gap on renewables and reduce dependence on imported fossil fuels.
Symphonics enables photovoltaic operators to access RTE’s adjustment mechanism, offering new profitability in a context of slowdown in the solar sector in France.

Framatome delivers first nuclear fuel assemblies for Barakah

Framatome has completed the manufacturing of the first nuclear fuel assemblies for the Barakah power plant, marking a key milestone in the supply agreement signed with Emirates Nuclear Energy Company in July.
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Moscow says it wants to increase oil and liquefied natural gas exports to Beijing, while consolidating bilateral cooperation amid US sanctions targeting Russian producers.
China's power generation capacity recorded strong growth in October, driven by continued expansion of solar and wind, according to official data from the National Energy Administration.

Serbia’s Pancevo refinery faces shutdown as US sanctions cut crude supply

Serbia’s only refinery, operated by NIS, may be forced to halt production this week, weakened by US sanctions targeting its Russian shareholders.
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Nordex Group will supply six turbines to upgrade a 34.2 MW wind farm in Caparroso, financed by the European Union under the NextGenerationEU plan.
Swiss group Axpo has completed a four-plant photovoltaic complex in León province, totalling 200 MWp of capacity, and is preparing its grid connection for early 2026.

Ferrari signs ten-year contract with Shell for green electricity supply

Ferrari has entered into an agreement with Shell for the supply of 650 GWh of renewable electricity until 2034, covering nearly half of the energy needs of its Maranello site.
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Despite a drop in sales, thyssenkrupp nucera ends fiscal year 2024/2025 with operating profit, supported by stable electrolysis performance and positive cash flow.
By divesting assets in Mexico, France and Eastern Europe, Iberdrola reduces exposure to non-strategic markets to strengthen its positions in regulated networks in the United Kingdom, the United States and Brazil, following a targeted capital reallocation strategy.

Swift Solar and Plenitude launch industrial testing for tandem solar technology

Swift Solar begins a strategic collaboration with Plenitude to test its tandem perovskite solar technology at industrial scale, targeting deployment in large-scale photovoltaic projects.
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Türkiye enters advanced negotiations with the World Bank for $6bn in funding to strengthen its electricity transmission network, a key condition for expanding its renewable and nuclear capacity.
The European Investment Bank is mobilising €2bn in financing backed by the European Commission for energy projects in Africa, with a strategic objective rooted in the European Union’s energy diplomacy.

UK launches radical overhaul of nuclear regulation system

A government-commissioned report proposes 47 measures to simplify nuclear regulation, reduce decommissioning costs and accelerate delivery of civilian and military projects.
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NextDecade has launched the pre-filing procedure to expand Rio Grande LNG with a sixth train, leveraging a political and commercial context favourable to US liquefied natural gas exports.
Nostromo’s IceBrick system becomes the first behind-the-meter thermal storage device to participate in California’s wholesale energy market, in partnership with Olivine, marking a milestone for commercial buildings.

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