Azerbaijan

US sanctions hit NIS, a key player in Serbia’s oil market

Serbian oil company NIS, partially owned by Gazprom, faces newly enforced US sanctions after a nine-month reprieve, testing the country's fuel supply chain.

Russia increases oil production and nears OPEC+ quota

Russian oil output moved closer to its OPEC+ allocation in September, with a steady rise confirmed by Deputy Prime Minister Alexander Novak.

Russia formally exits bilateral nuclear agreement with the United States

The State Duma has approved Russia’s formal withdrawal from a treaty signed with the United States on the elimination of military-grade plutonium, ending over two decades of strategic nuclear cooperation.
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Oil rises 1.3% after limited OPEC+ output increase

Crude prices rose following the decision by the Organization of the Petroleum Exporting Countries and its allies to increase production only marginally in November, despite ongoing signs of oversupply.

Ukraine plans to increase gas imports by 30% after Russian strikes

The Ukrainian government is preparing to raise natural gas imports by 30% to offset damage to its energy infrastructure and ensure supply continuity during the winter season.

Belarus quadruples fuel exports to Russia in September

Rail shipments of Belarusian gasoline to Russia surged in September as Moscow sought to offset fuel shortages caused by Ukrainian attacks on its energy infrastructure.
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Tusk refuses to hand over Ukrainian suspect to Germany over Nord Stream sabotage

Polish Prime Minister Donald Tusk said it was not in Poland’s interest to extradite to Germany a Ukrainian citizen suspected of taking part in the explosions that damaged the Nord Stream gas pipelines in 2022.

Denmark strengthens maritime controls at Skagen Strait amid Russian shadow fleet activity

Denmark is intensifying inspections of ships passing through Skagen, a strategic point linking the North Sea and the Baltic Sea, to counter the risks posed by the Russian shadow fleet transporting sanctioned oil.

China opts for quarterly thermal coal contracts with Indonesia for 2026

Chinese buyers begin negotiations for 2026 thermal coal deliveries, favouring shorter contracts to maintain flexibility in a stable price environment.
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Ukrainian strike cuts power to 5,400 homes in Belgorod region

A night-time attack on Belgorod’s power grid left thousands without electricity, according to Russian local authorities, despite partial service restoration the following morning.

Opec+ raises production by 137,000 barrels per day in November

Opec+ slightly adjusts its quotas for November, continuing its market share recovery strategy amid stagnant global demand and a pressured market.

OPEC+ prepares new production hike amid rift between Riyadh and Moscow

Eight OPEC+ countries are set to increase oil output from November, as Saudi Arabia and Russia debate the scale of the hike amid rising competition for market share.
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Hungary secures 10-year LNG contract with Engie through 2038

Hungary has signed a ten-year agreement with Engie for the annual import of 400 mn m³ of liquefied natural gas starting in 2028, reinforcing its energy diversification strategy despite its ongoing reliance on Russian gas.

China could supply gasoline to Russia if Moscow removes import duties

The potential removal by Moscow of duties on Chinese gasoline revives export prospects and could tighten regional supply, while Singapore and South Korea remain on the sidelines.

Russian strike cuts power to Chernobyl site, reigniting nuclear safety concerns

The containment structure over Chernobyl’s destroyed reactor lost power after a Russian strike, as Zaporizhzhia remains cut off from external electricity for over a week.
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Russia strikes 95 targets and severely damages Ukrainian gas sites

An unprecedented overnight offensive targeted gas infrastructure in Ukraine, damaging several key facilities in the Kharkiv and Poltava regions, according to Ukrainian authorities.

Putin denounces “piracy” after tanker seized off French coast

Vladimir Putin responded to the interception of a tanker suspected of belonging to the Russian shadow fleet, calling the French operation “piracy” and denying any direct Russian involvement.

Macron urges Europe to act against Russian shadow fleet after offshore seizure

France intercepted a tanker linked to Russian exports, prompting Emmanuel Macron to call for a coordinated European response to hinder vessels bypassing oil sanctions.
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Russian oil tanker Boracay resumes voyage after being seized by France

After being intercepted by the French navy, the Boracay oil tanker, linked to Russia's shadow fleet, left Saint-Nazaire with its oil cargo, reigniting tensions over Moscow’s circumvention of European sanctions.

Russian crude exports hit 18-month high despite sanctions pressure

Russian seaborne crude shipments surged in September to their highest level since April 2024, despite G7 sanctions and repeated drone strikes on refinery infrastructure.

Orano secures €400M loan from EIB for uranium enrichment plant expansion

Orano has secured a €400 million loan from the European Investment Bank to finance the expansion of its Georges Besse II uranium enrichment plant at Tricastin, aiming to increase its capacity by 30% by 2028.

OPEC+ Gradually Increases Iraqi Oil Production Starting April 2025

OPEC+ has authorized a gradual increase in Iraq's oil quota starting in April 2025, enabling the country to reach 4.11 million barrels per day by January 2026, amid strategic developments marked by the imminent reopening of the Iraq-Turkey pipeline.

Orano signs contract with Energoatom for uranium enrichment

French group Orano has signed an agreement with Energoatom to provide uranium enrichment services until 2040. This collaboration aims to reduce Ukraine's reliance on Rosatom, the Russian nuclear giant.
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Russia and Myanmar sign deal for construction of nuclear power plant

Russia and Myanmar have signed an agreement for the construction of a small nuclear power plant in Myanmar. The project aims to provide affordable energy for Myanmar’s economy while strengthening bilateral relations.

France, Europe’s main importer of Russian LNG in 2024

In 2024, France maintained its position as the leading importer of Russian liquefied natural gas (LNG) in Europe, despite an overall decline in its gas consumption.

Opec+ announces gradual increase in production, causing oil prices to fall

Opec+ has reaffirmed its plan for a gradual increase in oil production starting from April 2025, a decision that has led to a drop in oil prices, particularly Brent. This strategy marks a shift in the cartel’s approach.
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Opec+ production increases lead to a drop in oil prices

Oil prices dropped this Tuesday after Opec+’s decision to maintain its plan of gradual production increases starting in April, despite calls from the US president to reduce energy prices.

Russia accuses Ukraine again of attacking the TurkStream pipeline

Russia has once again accused Ukraine of attacking the TurkStream pipeline with drones, marking the second attack in two months aimed at disrupting Russian gas deliveries to Europe.

European gas prices drop due to hopes for a ceasefire in Ukraine and improving stock levels

European gas prices reach their lowest level in two months, supported by progress in Ukraine negotiations and slight improvement in gas reserves. The Dutch TTF futures contract falls 3.37% to €42.80.
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CEZ wins arbitration against Gazprom for over one billion crowns

Czech energy group CEZ has won an arbitration case against Russian company Gazprom, securing more than one billion crowns in damages for reduced gas deliveries in 2022.

Wood Mackenzie forecasts Brent crude to average $73/barrel in 2025

According to Wood Mackenzie's forecast, the average Brent crude price in 2025 will be $73/barrel, influenced by complex geopolitical and economic factors, including the war in Ukraine and sanctions against Iran.

The European Commission accelerates Ukraine’s energy integration

The European Commission announces a support plan to strengthen Ukraine’s energy security and fully integrate its electricity and gas markets with the European Union by 2027, in cooperation with Moldova.
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EU Nuclear Alliance calls for nuclear energy inclusion in Europe’s affordable energy plan

Eleven European countries urge the European Commission to include nuclear energy in the Affordable Energy Action Plan, aimed at reducing energy costs and enhancing the continent's energy security.

The UK and Norway Strengthen Cooperation to Protect Submarine Infrastructure

Amid rising Russian threats, Norway and the UK will enhance their collaboration to safeguard their vital underwater infrastructure.

Rosatom begins discussions on cooperation with Egypt in quantum technology

The Russian public company Rosatom begins talks with Egypt to explore joint projects in quantum technology, with concrete proposals in several high-tech sectors.
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Putin Asks Kazakhstan’s Partners to Fund CPC Pipeline Repairs After Drone Attack

A drone attack on the Caspian Pipeline Consortium (CPC) threatens to disrupt Kazakhstan's oil exports. Vladimir Putin urges foreign partners, including Chevron, to fund the necessary repairs.

France Becomes Europe’s Leading Hub for Russian LNG Despite Restrictions

France’s imports of liquefied natural gas (LNG) from Russia surged by 81% between 2023 and 2024, reaching €2.68 billion. With its extensive port infrastructure, France has become the primary entry point for Russian LNG into Europe, marking a shift in the market landscape.

Kazakhstan and Hungary Agree on Oil Exports via Druzhba Pipeline

An agreement was signed in February 2025 between Kazakhstan and Hungary to enhance oil exports from Kazakhstan via the Druzhba pipeline. This development could change the energy dynamics in Central Europe.
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Drone Attack in Russia Disrupts Caspian Pipeline Consortium Pipeline

A drone strike in Russia has forced the shutdown of a key pumping station on the Caspian Pipeline Consortium (CPC) pipeline, temporarily reducing its capacity to transport Kazakh oil to Europe. The incident comes amid heightened diplomatic tensions surrounding the Ukraine conflict.

Global Oil Demand to Rise Sharply in 2025, Says IEA

The International Energy Agency (IEA) forecasts an increase of 1.1 million barrels per day (mb/d) in 2025, driven by consumption in non-OECD countries. Global production is expected to follow an upward trend despite recent declines and market tensions.