Bulgaria

OPEC+ begins a new phase of gradual production increases, starting to lift 1.65 million barrels/day of voluntary cuts after the early conclusion of a 2.2 million barrels/day phaseout.
The Voskhod and Zarya vessels, targeted by Western sanctions, departed China’s Beihai terminal after potentially offloading liquefied natural gas from the Arctic LNG 2 project.

Imperial Petroleum invests in seven vessels despite a 22.8% drop in revenue

Imperial Petroleum expanded its fleet to 19 vessels in the second quarter of 2025, while reporting a decline in revenue due to lower rates in the maritime oil market.
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Eight OPEC+ members will meet to adjust their quotas as forecasts point to a global surplus of 3 million barrels per day by year-end.
Greek shipping companies are gradually withdrawing from transporting Russian crude as the European Union tightens compliance conditions on price caps.

Zelensky urges Slovakia to stop buying Russian oil via Druzhba pipeline

The Ukrainian president demanded that Slovakia end its imports of Russian crude, offering an alternative supply solution amid ongoing war and growing diplomatic tensions over the Druzhba pipeline.
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A key station on the Stalnoy Kon pipeline, essential for transporting petroleum products between Belarus and Russia, was targeted in a drone strike carried out by Ukrainian forces in Bryansk Oblast.
Rosneft Germany announces the resumption of oil deliveries to the PCK refinery, following repairs to the Druzhba pipeline hit by a drone strike in Russia that disrupted Kazakh supply.

ABO Energy cuts costs and accelerates wind project sales

ABO Energy maintains its annual targets despite a drop in half-year profit, relying on cost-cutting measures and early project sales to secure cash flow.
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The new Russian railway line linking the Elga mine to the Sea of Okhotsk port will reach full capacity in 2026, after an operational testing phase scheduled for 2025.
India increased its purchases of Russian oil and petroleum products by 15% over six months, despite new US trade sanctions targeting these transactions.

Gazprom and CNPC seal binding agreement for the Power of Siberia 2 project

Gazprom and China National Petroleum Corporation have signed a binding memorandum to build the Power of Siberia 2 pipeline, set to deliver 50 bcm of Russian gas per year to China via Mongolia.
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Russian group T Plus plans to stabilise its electricity output at 57.6 TWh in 2025, despite a decline recorded in the first half of the year, according to Chief Executive Officer Pavel Snikkars.
Indonesia will finalise a free trade agreement with the Eurasian Economic Union by year-end, paving the way for expanded energy projects with Russia, including refining and natural gas.

Putin asks Slovakia to block energy flows to Ukraine

During a meeting in Beijing, Vladimir Putin called on Slovakia to suspend its energy deliveries to Ukraine, citing Ukrainian strikes on Russian energy infrastructure as justification.
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Vladimir Putin and Robert Fico met in China to address the war in Ukraine, regional security and energy relations between Russia and Slovakia.
Saudi and Iraqi exporters halted supplies to Nayara Energy, forcing the Rosneft-controlled Indian refiner to rely solely on Russian crude in August.

Rosatom prepares new nuclear projects in India and Turkey

Russian nuclear group Rosatom has confirmed advanced discussions with India and Turkey to launch new power plants, including advanced and floating reactor technologies.
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Driven by distributed solar and offshore wind, renewable energy investments rose 10% year-on-year despite falling financing for large-scale projects.
Budapest plans to complete a new oil link with Belgrade by 2027, despite risks of dependency on Russian flows amid ongoing strikes on infrastructure.
Russia and Vietnam have signed a nuclear roadmap aimed at strengthening technological cooperation, including a commercial nuclear plant and a scientific centre by 2030.
Belgrade aims to retain favourable pricing terms for Russian gas imports as the current contract nears its May 31 deadline.

Russia targets stable return to 10.8 million barrels per day

Deputy Prime Minister Alexander Novak says Russian oil production could reach a sustained level of 10.8 million barrels per day, supported by rising global demand and internal fiscal adjustments.
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Oil prices climbed on Friday, supported by the signing of a trade agreement between the United States and the United Kingdom, reviving expectations of easing global tensions.
During a visit to France, the Saudi Minister of Industry presented the kingdom's titanium and aluminium as levers to reach agreements with French manufacturers and support the country’s industrial diversification.

US-China tariff war disrupts China’s petrochemical market

The increase in tariffs between the United States and China is radically reshaping China's petrochemical supply flows, threatening to raise costs and intensify supply challenges in an already strained strategic sector.
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Brent and WTI prices surged after the announcement of a trade deal between the United States and the United Kingdom, raising expectations of a rebound in global crude demand.
Oil prices are trending downward under the combined pressure of increased output from Opec+ members and the potential for a nuclear deal between Iran and the United States.

The €4.2bn electricity project between Egypt and Greece takes shape

The Gregy-Elica submarine interconnection aims to deliver green electricity from Egypt to Greece, with confirmed support from the European Union and strengthened bilateral commitments.
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Methane released by the oil, gas and coal sectors remained at near-record levels, according to the International Energy Agency, which flagged the scale of massive leaks detected.
Russia positions itself as an active supporter of nuclear talks between Iran and the United States, advocating for a balanced legal framework in line with international law.

The European Union plans to ban all Russian gas imports by the end of 2027

Brussels announces a full exit from Russian gas by the end of 2027, despite a remaining 9% dependency and pressure on the global liquefied natural gas market.
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Crude prices gained momentum after a drop triggered by OPEC+, supported by strong gasoline demand in the United States ahead of the summer season.
The United States is multiplying energy agreements with Romania and Bulgaria, focusing on civil nuclear power and hydropower storage to deepen its influence in strategic regional projects.

Macron welcomes Berdymukhamedov in pursuit of gas deals with Turkmenistan

The French president hosts Turkmen leader Gurbanguly Berdymukhamedov in Paris to finalise economic agreements amid geopolitical rivalries over Central Asian gas resources.
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Eight Opec+ members will raise output by 411,000 barrels per day in June, boosting global supply amid falling prices and ongoing trade tensions.
Russian attacks on Ukrainian gas infrastructure have halved national production, pushing Kyiv to seek alternative import sources to secure winter supply.

Axpo and EDF Renewables sign a short-term PPA for two solar plants in Greece

Axpo and EDF Renewables Hellas have signed a short-term power purchase agreement for the output of two solar plants in Greece, with a total capacity of 102 megawatts.
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The United States extends until June 27 the suspension of sanctions targeting NIS, the Serbian energy company controlled by Gazprom, providing strategic relief to gas-dependent Serbia.
Russia and Iran anticipate a sharp acceleration in their trade relations with the entry into force of their free trade agreement in May, covering oil, gas and civil nuclear cooperation.