Iraq

The inclusion of hydrogen in China’s 15th Five-Year Plan confirms a public investment strategy focused on cost reduction, domestic demand stimulation and geo-economic influence across global markets.
Argentina increased regulated prices for ethanol and biodiesel used in mandatory blending, directly impacting the local industry and domestic fuel market.

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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Kuwait National Petroleum Company aims to boost gas production to meet domestic demand driven by demographic growth and new residential projects.
Kuwait is preparing a battery storage project with a capacity of up to 6 GWh to stabilise its power grid and address rising electricity demand.

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.
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COP30 begins in Belém under uncertainty, as countries fail to agree on key discussion topics, highlighting deep divisions over climate finance and the global energy transition.
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.

Vallourec to deliver over 30,000 tonnes of pipes for TotalEnergies in Iraq

TotalEnergies has tasked Vallourec with supplying tubular solutions for drilling 48 wells as part of its integrated gas project in Iraq, reinforcing their ongoing industrial cooperation on the Ratawi field.
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Faced with US sanctions targeting Lukoil, Bulgaria adopts emergency legislation allowing direct control over the Balkans’ largest refinery to secure its energy supply.
OMS Energy is accelerating investments in artificial intelligence and robotics to position itself in the growing pipeline inspection and maintenance sector, a strategic segment with higher margins than traditional equipment manufacturing.

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.
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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.
JA Solar has signed an agreement with Larsen & Toubro to supply photovoltaic modules for the Samarkand 1 and 2 solar power plants, developed by ACWA Power with a total installed capacity of 1.2 GW.

EDF, SPIC and SAPCO consortium secures financing for 1,400 MW solar projects in Saudi Arabia

Two photovoltaic plants with a combined capacity of 1,400 MW will be operational in 2027, strengthening EDF Group's international presence and Asian actors in Saudi Arabia's energy market.
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The International Atomic Energy Agency denounces the ongoing inspection blockage at several damaged Iranian nuclear facilities, where stocks of highly enriched uranium remain.
Commodities trader Gunvor confirmed that the assets acquired from Lukoil will not return under Russian control, despite potential sanction relief, amid growing regulatory pressure.

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.
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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.
Iran deploys 12 contracts and plans 18 more to recover 300 MMcf/d, inject 200 MMcf/d into the network, and deliver 800,000 tons/year of LPG, with an announced reduction of 30,000 tons/day of emissions.
A new Russian presidential decree could allow Exxon Mobil to reclaim its stake in Sakhalin-1, under strict conditions tied to Western sanctions and equipment logistics.
Under threat of increased U.S. tariffs, New Delhi is accelerating its energy independence strategy to reduce reliance on imports, particularly Russian oil.

China rejects European threat to reinstate sanctions against Iran

Beijing opposes the possible return of European trio sanctions against Iran, as the nuclear deal deadline approaches and diplomatic tensions rise around Tehran.
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Aramco finalizes a strategic agreement with an international consortium led by GIP, valuing its midstream gas assets in Jafurah at $11 billion through a lease and leaseback contract.
The sultanate awards three mining concessions to local companies. Projects target strategic deposits to reduce hydrocarbon dependence.

Funds Push European Carbon Positions to Highest Since April

Investors hold 28.9 million EUAs net long as of August 8, four-month record level. Prices stable around 71 euros despite divergent fundamentals.
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A Dragos report reveals the scale of cyber vulnerabilities in global energy infrastructures. Potential losses reach historic highs.
The Russian Ministry of Industry and Trade is announcing "Arctic configuration" wind generators to power infrastructure on the Northern Sea Route, without listing any companies at this stage, with the stated aim of technological sovereignty.

Russia Targets Gas Turbines Over 300 MW in Technological Leap

Moscow is preparing to develop gas turbines exceeding 300 MW while strengthening existing capacities and positioning itself against the most high-performing models worldwide.
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The United States Department of Energy has selected eleven companies to build experimental nuclear reactors by July 2026, under a programme aimed at meeting rising electricity demand.
OPEC's August report reveals Russian production above quotas and commercial dominance in Asia, while Kazakhstan massively exceeds its reduction commitments.

Russia gains adoption of oil and gas standards in Africa and the Middle East

Around 80 Russian technical standards for oil and gas have been internationally validated, notably by the United Arab Emirates, Algeria and Oman, according to the Institute of Oil and Gas Technological Initiatives.
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Hundreds of aging tankers transport Russian oil to Asia, circumventing Western sanctions while creating major environmental risks and transforming global trade flows.
Baghdad and Damascus intensify discussions to reactivate the 850 km pipeline closed since 2003, offering a Mediterranean alternative amid regional tensions and export blockages.

ADNOC L&S Defies Maritime Turbulence with Record Second Quarter Results

The Emirati logistics giant posts 40% revenue growth despite depressed maritime freight rates, driven by Navig8 integration and strategic fleet expansion.
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A nationwide blackout left Iraq without electricity for several hours, affecting almost the entire country due to record consumption linked to an extreme heatwave.
The suspension of Jianxiawo mine after its mining permit expired removes 65,000 tonnes of annual production from the saturated global market.

OPEC+ Cuts Production Despite Higher Quotas in July

OPEC+ oil production fell to 41.65 million barrels per day in July 2025, reveals S&P Global's Platts survey, as Saudi Arabia normalizes production after June's Iran-Israel tensions.
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BP and Fortescue withdrawals reveal gap between promises and economic reality in the sector, despite 22.7 billion Australian dollars in government incentives.
The two countries end 37 years of conflict with a 43-kilometer corridor under American control for 99 years. The infrastructure will transport 50 million tons of goods annually by 2030.