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Sofia activates emergency plan as US sanctions on Lukoil approach
With only 35 days of gasoline left, Bulgaria is accelerating measures to secure supply before US sanctions on Lukoil take effect on November 21.
Russia begins withdrawal from NIS to circumvent US sanctions
Russia is negotiating the sale of its stake in Serbian oil company NIS as US sanctions threaten the operations of the company, which plays a key role in Serbia’s economy.

Sofia secures Lukoil refinery ahead of planned state takeover

The Bulgarian government has increased security around Lukoil’s Burgas refinery ahead of a state-led takeover enabled by new legislation designed to circumvent international sanctions.
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India and Russia strengthen nuclear cooperation with new projects
Russia and India are preparing an expanded agreement for the construction of VVER-1200 reactors and modular nuclear power plants, while accelerating work at the strategic Kudankulam site.
Three U.S. gas basins reshape prices, flows and contracts
Appalachia, Permian and Haynesville each reach the scale of a national producer, anchor the United States’ exportable supply and set regional differentials, LNG arbitrage and compliance constraints across the chain, amid capacity ramp-ups and reinforced sanctions.

Bulgaria passes law to take control of Lukoil refinery

Faced with US sanctions targeting Lukoil, Bulgaria adopts emergency legislation allowing direct control over the Balkans’ largest refinery to secure its energy supply.
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BW Ideol secures up to €74mn for concrete floater plant in Fos-sur-Mer
The European Commission has selected BW Ideol’s Fos3F project for a grant of up to €74mn, targeting the construction of a concrete floater plant for floating wind turbines at the industrial site of Fos-sur-Mer.
Gunvor drops $22bn bid for Lukoil assets under US pressure
Swiss trader Gunvor has withdrawn its $22bn offer to acquire Lukoil’s international assets after the US Treasury announced it would block any related operating licence.

Venture Global signs 20-year deal to supply LNG to the Balkans via Greece

Venture Global has signed a liquefied natural gas sales agreement with Atlantic-See LNG Trade S.A., a newly formed Greek joint venture, to supply 0.5 million tonnes annually starting in 2030, reinforcing regional energy security.
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Trump grants Orban oil exemption in exchange for US gas deal
The United States grants Hungary a one-year waiver on sanctions targeting Russian oil, in return for a commitment to purchase US liquefied natural gas worth $600mn.
ExxonMobil takes 60% stake in gas exploration permit in Greece’s Ionian Sea
ExxonMobil joins a Greek energy consortium to explore a gas field in the Ionian Sea, strengthening its presence in the Eastern Mediterranean after Chevron, amid post-Russian energy diversification efforts.

Gunvor rules out resale of Lukoil assets to Russia after acquisition

Commodities trader Gunvor confirmed that the assets acquired from Lukoil will not return under Russian control, despite potential sanction relief, amid growing regulatory pressure.
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Western sanctions disrupt Lukoil’s international operations
Sanctions imposed by the U.S. and the U.K. are paralyzing Lukoil's operations in Iraq, Finland, and Switzerland, putting its foreign businesses and local partners at risk.
Aramco’s net profit drops for the eleventh consecutive quarter
Aramco reported a 2.3% decrease in its net profit for the third quarter, amid global economic uncertainties and an oversupply of oil, although its adjusted earnings showed a slight increase.

Le TAP augmente ses nominations de gaz aux interconnexions européennes clés

Les nominations du Trans Adriatic Pipeline progressent à Melendugno, Nea Mesimvria et Komotini, signalant davantage d’offre pipeline et une flexibilité accrue pour les expéditeurs face aux arbitrages avec le gaz naturel liquéfié.
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EU bans Russian LNG, Arctic bottlenecks and clauses under strain
The gradual ban on Russian cargoes reshapes European flows, increases winter detours via the Northern Sea Route and shifts risk toward force majeure and “change of law,” despite rising global capacity. —
Bulgaria halts fuel exports to EU after sanctions on Lukoil
Sofia temporarily restricts diesel and jet fuel exports to safeguard domestic supply following US sanctions targeting Lukoil, the country’s leading oil operator.

Lukoil sells its African oil assets to Gunvor under pressure from US sanctions

Swiss trader Gunvor will acquire Lukoil’s African stakes as the Russian company retreats in response to new US sanctions targeting its overseas operations.
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Washington temporarily authorises operations linked to Rosneft’s German assets
The United States has issued a general license allowing transactions with two German subsidiaries of Rosneft, giving Berlin until April 2026 to resolve their ownership status.
Equinor posts adjusted operating income of USD 6.21bn in Q3 2025
Equinor reported 7% production growth and strong cash flow, despite lower hydrocarbon prices weighing on net results in the third quarter of 2025.
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Vena Energy launches 408 MWh storage system in South Australia
Maxeon sues Aiko and its distributors in Germany for solar patent infringement
Washington demands methane exemption until 2035 to protect its LNG exports
Mitsubishi HC Capital Energy and Ecokaku to build 10 MW of non-FIT solar per year
Small modular reactor market to reach 912.5 MW by 2030
Russia extends ban on gasoline and diesel exports until 2025
The Russian government has extended the ban on gasoline and diesel exports, including fuels traded on the exchange, to preserve domestic market stability through the end of next year.
Medvedev announces the rise of public investment in nuclear and AI
The Vice-Chairman of Russia’s Security Council believes more countries will develop nuclear weapons and generative AI technologies as a result of increasing public sector efforts.

Russia targets 56 mn tonnes of LNG annually by 2027 despite 2024 decline

Russia’s liquefied natural gas output will increase steadily through 2027 under the national energy development plan, despite a 6% drop recorded in the first eight months of 2024.
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Asia could absorb more Russian LNG after the European embargo in 2027
The European ban on Russian liquefied natural gas from 2027 is pushing Siberian producers to reorient their flows to Asia, despite logistical and regulatory constraints.
Bulgaria begins talks for the deployment of small modular reactors
The Ministry of Energy will initiate talks with developers of small nuclear reactors after signing a cooperation agreement with the United States to conduct preliminary studies on their deployment.

Natural uranium will be sufficient to fuel nuclear reactors until 2100

The International Atomic Energy Agency says known natural uranium reserves will meet global nuclear power plant demand for the rest of the century, despite price pressures.
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Russian oil and gas revenues seen falling to $206.1bn in 2025
Russia projects a 12.5% contraction in oil and gas revenues in 2025, before a gradual recovery through 2028, according to official economic projections.
US sanctions against NIS postponed by eight days, says Belgrade
US sanctions against Serbian oil company NIS, owned by Gazprom, were delayed by eight days after talks between Belgrade and Washington, President Aleksandar Vucic said.

HiTHIUM signs 2GWh deal with Solarpro for large-scale storage projects in Eastern Europe

Storage provider HiTHIUM will supply 2GWh of batteries to Solarpro for multiple large-scale projects across the Balkans and Central Europe.
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U.S. oil drilling rebounds amid global tensions
The number of active drilling rigs in the United States rose for the fourth consecutive week, supported by higher crude prices and OPEC+’s difficulties in meeting production targets.
Putin calls for new financing models for global nuclear energy
At World Atomic Week in Moscow, the Russian president advocated for a reform of civil nuclear funding mechanisms, urging stronger involvement from multilateral financial institutions.

UN sanctions on Iran reactivated, increased pressure on trade

The activation of the snapback mechanism reinstates all UN sanctions on Iran, directly affecting the defence, financial and maritime trade sectors.
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United States offers India a way out of Russian oil amid trade tensions
Washington offers New Delhi an alternative to its Russian imports while maintaining tariff pressure, exposing a double standard in US energy policy.
Dispute escalates between MOL and Janaf over Adriatic pipeline’s supply capacity
A technical dispute between Hungarian group MOL and Croatian operator Janaf raises doubts about the Adriatic pipeline's ability to supply oil to Hungary and Slovakia.

Azerbaijan arrests former SOCAR executive for embezzlement and economic threat

Adnan Ahmadzada, a former senior figure at SOCAR, has been placed in pre-trial detention in Baku on suspicion of large-scale embezzlement and threatening the country's economic security.
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Brussels prepares tariffs on Russian oil imported by Hungary and Slovakia
The European Commission is considering targeted tariffs on Russian oil imports still allowed in Hungary and Slovakia, in an effort to bypass existing exemptions.
Iran signs agreement with Rosatom to develop small modular reactors
Iran and Russia have signed a memorandum of understanding for the design and construction of small modular nuclear reactors, strengthening their cooperation in the field of civilian nuclear energy.

Serbia to renew gas contract with Russia in October despite tensions

A new three-year gas import agreement will be signed between Belgrade and Moscow, as Serbia’s energy ties face growing diplomatic scrutiny from the West.
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Trump urges NATO to halt all Russian oil purchases by member states
The US president has called for an immediate end to Russian oil imports by NATO countries, denouncing a strategic contradiction as sanctions against Moscow are being considered.
Russia shifts coal exports toward Asia, expert says
Facing Western restrictions, Russia plans to increase coal deliveries to China, India and Turkey, according to a recent presentation on the sector’s outlook.
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