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China channels public investment into hydrogen to consolidate industrial dominance
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.
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.

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 opens in tension as negotiations fail on initial agenda
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.
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.

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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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.
OMS Energy turns to AI and robotics to capture global pipeline inspection market
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Swiss trader Gunvor has withdrawn its $22bn offer to acquire Lukoil’s international assets after the US Treasury announced it would block any related operating licence.
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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.
JA Solar to supply 1.2 GW of modules for two photovoltaic projects in Uzbekistan
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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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.
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.
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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.
Two SANAD Drilling Rigs to Resume Operations in Saudi Arabia by Mid-2026
The SANAD drilling joint venture will resume operations with two suspended rigs, expected to restart in March and June 2026, with contract extensions equal to the suspension period.

Envision Energy and ACWA Power Partner to Industrialize Wind Energy in Central Asia and the Middle East

The Chinese wind turbine manufacturer and Saudi operator sign a seven-year framework agreement to deploy local production lines and enhance technological cooperation in several strategic markets.
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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. —
The UN validates an Article 6.4 methodology for landfill methane
The Paris Agreement Crediting Mechanism formalizes a landfill-methane methodology, imposes an investment-based additionality test, and governs issuance of traceable units via a central registry, with host-country authorizations and corresponding adjustments required.
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AfDB grants $7.41mn to Liberia to complete hydroelectric power plant
South Korea under pressure from the IEA to liberalise its electricity market
Iberdrola launches a public offer to acquire 100% of Neoenergia in Brazil
KEPCO and ENEC strengthen alliance on nuclear and artificial intelligence
Iberdrola sells 757 MW of French onshore assets to Technique Solaire
BRICS Advocate for Energy Market Stability Amid Sanctions
Meeting in Rio, BRICS nations urge global energy market stability, openly condemning Western sanctions and tariff mechanisms in a tense economic and geopolitical context.
OPEC+ Significantly Raises Oil Quotas with Additional 548,000 Barrels
Major oil producers accelerate their return to the market, raising their August quotas more sharply than initially expected, prompting questions about future market balances.

Egypt accelerates El-Dabaa national grid connection for 2026

Cairo is stepping up connection works for the planned 4,800 MW El-Dabaa nuclear plant, developed with Rosatom, to feed the grid from 2026 with output equal to about seven % of national electricity.
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BRICS: solar production exceeds 50% of global total in 2024
Emerging economies from the BRICS group now account for more than half of global solar electricity production in 2024, driven mainly by China, India, and Brazil, according to a new report by the organisation Ember.
Iran: Oil Dependence Limits Alliances with Moscow and Beijing
Despite strong ties, Iran's dependence on oil revenues limits its ability to secure substantial strategic support from Russia and China amid current international and regional crises, according to several experts.

Abu Dhabi Fund allocates $205mn to connect Gulf electricity grids

The Abu Dhabi Fund for Development has granted AED752mn ($205mn) financing to the Gulf Interconnection Authority to connect the electricity grids of the United Arab Emirates and Saudi Arabia, enhancing regional energy exchange.
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Westinghouse wins $180mn contract to assemble ITER experimental reactor
Westinghouse Electric Company signs a $180mn contract with ITER Organization to complete the final assembly of the vacuum vessel for ITER’s experimental nuclear fusion reactor, currently under construction in Cadarache, southern France.
Curve Energy Corp. signs strategic agreement with Saudi Aramco Technologies
Curve Energy Corp. has formalized a non-disclosure agreement with Saudi Aramco Technologies, allowing confidential exchanges of information as part of potential technological collaborations in the global market for low-sulfur marine fuels.

Geothermal investment jumps 85% driven by new technologies

North America registers record funding of $1.7 billion in the first quarter of 2025, driven by emerging innovative techniques exploiting previously inaccessible geothermal resources, according to recent analysis by Wood Mackenzie.
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Turkey’s Eren Energi seeks 375,000 tonnes of thermal coal before December
Turkish power producer Eren Energi Elektrik Uretim has launched a tender to buy 375,000 tonnes of thermal coal to be delivered in five shipments starting from August 2025, according to a document seen by Platts on June 27.
Pronur launches operations in Saudi Arabia to strengthen renewable energy solutions
Italian group Pronur establishes itself in Saudi Arabia with support from AstroLabs, aiming to provide advanced technologies in the renewable energy sector and develop new industrial partnerships.

Orlen ends Russian oil purchases for Czech refinery after contract expiry

Orlen announces the definitive halt of its Russian oil purchases for the Czech Republic, marking the end of deliveries by Rosneft following the contract expiry, amid evolving logistics and diversification of regional supply sources.
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Ignis Energy secures $13.6mn to accelerate global geothermal projects
Ignis Energy closes its $13.6mn Series A funding round, gathering international players to finance geothermal projects in the United States and Türkiye, now entering the technical maturity phase.
Chinese independent refiners poised to increase fuel oil imports
The anticipated increase in the tax deduction rate may encourage independent refineries in Shandong to restart fuel oil imports, compensating for limited crude oil import quotas.

Europe extends gas storage obligations until 2027

The European Union extends gas storage regulations by two years, requiring member states to maintain a minimum fill rate of 90% to ensure energy security and economic stability amid market uncertainties.
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Hormuz Threat: Producing Countries Face an Imminent Diplomatic Crisis
The potential closure of the Strait of Hormuz places Gulf producers under intense pressure, highlighting their diplomatic and logistical limitations as a blockage threatens 20 million daily barrels of hydrocarbons destined for global markets.
Russia Forecasts Drop in Electricity Exports to China
The Russian company InterRAO anticipates a 4% annual reduction in electricity exports, primarily impacted by a significant decrease in shipments to China due to limited hydroelectric production and rising domestic demand.

Hungary and Slovakia jointly oppose European ban on Russian energy

Budapest and Bratislava jointly reject the European Commission's proposal to ban Russian energy supplies, highlighting significant economic risks and a direct threat to their energy security, days ahead of a key meeting.
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Russia and Mali Sign Trade Agreements and Target Nuclear Energy
Russia strengthens its economic presence in Mali with new agreements, notably in nuclear energy and gold refining, consolidating strategic cooperation within a rapidly evolving geopolitical context.
Eni, BP and TotalEnergies partially evacuate Iraq; Lukoil maintains operations
Following US strikes in Iran, international energy companies partially evacuate their teams from Iraq as a precaution, while Lukoil maintains its entire personnel on southern oilfields.
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