Egypt

Prolonged attacks on fuel convoys have depleted stocks, destabilised power generation and disrupted economic activity in Bamako and surrounding regions.
Former German Chancellor Gerhard Schröder supported the Nord Stream 2 pipeline before an inquiry, dismissing criticism over his role and Russian funding linked to the project.

Russia definitively ordered to pay $50bn to former Yukos shareholders

The Dutch Supreme Court has rejected Russia's final appeal, confirming a record $50bn compensation to former Yukos shareholders, ending two decades of legal battle.
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Donald Trump says he secured Narendra Modi’s commitment to end Russian oil imports, adding political pressure to India-Russia trade relations.
Two European Parliament committees propose to advance the full halt of Russian hydrocarbon imports to 2026 and 2027, including oil, gas, and LNG, strengthening the European Union’s geopolitical position.

China rejects US pressure over Russian oil imports

Beijing calls Donald Trump's request to stop importing Russian crude interference, denouncing economic coercion and defending what it calls legitimate trade with Moscow.
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The United States has called on Japan to stop importing Russian gas, amid rising tensions over conflicting economic interests between allies in response to the indirect financing of the war in Ukraine.
India faces mounting pressure from the United States over its purchases of Russian oil, as Donald Trump claims Prime Minister Narendra Modi pledged to halt them.

UK sanctions Rosneft, Lukoil and 51 vessels linked to Russian oil exports

The United Kingdom targets two Russian oil majors, Asian ports and dozens of vessels in a new wave of sanctions aimed at disrupting Moscow's hydrocarbon exports.
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Major global oil traders anticipate a continued decline in Brent prices, citing the fading geopolitical premium and rising supply, particularly from non-OPEC producers.
BP has awarded Valaris a $140mn drilling contract for a Mediterranean offshore campaign aimed at reinforcing Egypt’s declining gas output since 2021.

IAEA proposes local truce to restore power at Zaporizhzhia

The United Nations nuclear agency is urging Ukraine and Russia to establish a local ceasefire to repair damaged power lines at the Zaporizhzhia plant, which remains on alert after losing all external power supply.
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Egypt’s petroleum ministry will launch 480 exploration wells by 2030 with investments exceeding $5.7bn, aiming to revive production and reduce reliance on imports.
Norwegian developer Empower New Energy expands in North Africa with a strategic partnership involving ten industrial solar sites for self-consumption in Tunisia.

China’s crude oil imports rise 3.9% in September

China imported an average of 11.5 million barrels of crude oil per day in September, supported by higher refining rates among both state-run and independent operators.
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OPEC confirms its global oil demand growth forecasts and anticipates a much smaller deficit for 2026, due to increased production from OPEC+ members.
Moscow strengthens industrial joint ventures with Tajikistan by leveraging hydropower, agriculture, and mining in a strategy based on mutual interest and economic complementarity.

Croatia targets Russian stake in NIS to maintain oil flows

JANAF is interested in acquiring a 20 to 25% stake in NIS, as the Russian-owned share is now subject to US sanctions.
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Falling Chinese imports and Asia’s regional pivot increase pressure on Australian thermal coal exporters.
The construction of Uzbekistan’s first small modular reactor (SMR) is underway, with 1.5mn m³ of earth being excavated in Jizzakh, marking a major milestone for the nuclear project led by Rosatom.
Belgrade has confirmed the temporary extension of its gas supply contract with Moscow, ensuring the daily delivery of 6 million cubic metres until autumn at an unchanged price.
Michael Kretschmer, Minister-President of Saxony, proposed restarting dialogue with Russia on the Nord Stream 2 pipeline, despite clear opposition from the German government to any reactivation of the project.

Trump Signs Four Major Executive Orders to Quadruple U.S. Nuclear Production

Donald Trump announces four executive orders to quadruple U.S. nuclear energy production within 25 years, radically accelerate regulatory approvals, secure enriched uranium supplies, and address the surging energy demands linked to artificial intelligence.
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China and Egypt concluded over 30 energy-focused agreements, including electric vehicles, smart grids and storage technologies.
State-owned oil group Rosneft has taken over the exploitation licence for the Tomtor rare metals deposit, marking the entry of hydrocarbons into a mining sector largely abandoned by private investors.

Turkey faces Russian control over its nuclear future at Akkuyu

Facing Russian dominance in the Akkuyu nuclear project, Turkey accelerates international negotiations, aiming to mitigate risks related to energy dependency and potential strategic conflicts of interest.
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The European Union has expanded its measures against Russia by targeting nearly 200 new vessels illegally transporting oil, as part of its 17th sanctions package.
Brussels aims to persuade the G7 to reduce the Russian oil price cap to $50 per barrel, as part of negotiations on the next sanctions package targeting Moscow’s energy revenues.

Russia Challenges European Carbon Taxes at the WTO

Russia has filed a complaint with the World Trade Organization (WTO) challenging the European Union's Carbon Border Adjustment Mechanism (CBAM), deeming it discriminatory and protectionist towards its strategic commodity exports.
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Emmanuel Macron is visiting Vietnam as the country expands its nuclear partnerships, signing today an agreement with the American company Westinghouse, following recent cooperation with Russia, intensifying competition in this strategic market.
The BRICS denounce economic sanctions and trade restrictions imposed by Western countries, warning of their consequences on global energy markets, especially regarding supply chains and financial stability in the energy sector.

Energean exits Moroccan offshore after gas drilling yields mixed results

Energean transfers its offshore stakes in Morocco to Chariot just one year after entering the market, following below-expectation outcomes from the Anchois-3 gas well.
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The European Commission releases data on the REPowerEU plan, confirming a sharp drop in Russian fossil fuel purchases and announcing new legislative measures by June.
The International Energy Agency forecasts a significant rise in global oil stocks due to slowing demand in developed economies and OPEC+'s gradual production increases starting in 2025.

The European Union strengthens maritime sanctions on Russian oil exports

The European Union has approved a new package of sanctions targeting 345 vessels suspected of helping Russia circumvent restrictions on crude oil and refined product exports.
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Dan Jørgensen, European Commissioner for Energy, confirms that the EU will continue its ban on Russian gas imports, regardless of the outcome of peace negotiations in Ukraine, with legislative proposals expected in June.
Russia and Vietnam have signed a nuclear roadmap aimed at strengthening technological cooperation, including a commercial nuclear plant and a scientific centre by 2030.

Serbia negotiates renewal of gas contract with Russia ahead of expiration

Belgrade aims to retain favourable pricing terms for Russian gas imports as the current contract nears its May 31 deadline.
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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.
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.