Commodities trader Gunvor confirmed that the assets acquired from Lukoil will not return under Russian control, despite potential sanction relief, amid growing regulatory pressure.
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.
TotalEnergies has signed a ten-year agreement with Data4 to supply its Spanish data centers with renewable electricity, with a total volume of 610 GWh starting from January 2026. The agreement relies on a 30 MW capacity.
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.
Centrales Nucleares Almaraz-Trillo has officially requested the extension of operations for reactors Almaraz I and II until 2030, challenging the original timeline for the shutdown of Spain’s nuclear fleet.
HEINEKEN, EDP, and Rondo Energy are deploying a 100 MWh industrial heat battery in Lisbon, providing renewable steam 24/7 using on-site solar power and the grid.
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.
—
Poland’s gas market remains highly concentrated around Orlen, which controls imports, production, and distribution, while Warsaw targets internal and regional expansion backed by new infrastructure capacity and demand from heat and power.
Sofia temporarily restricts diesel and jet fuel exports to safeguard domestic supply following US sanctions targeting Lukoil, the country’s leading oil operator.
Swiss trader Gunvor will acquire Lukoil’s African stakes as the Russian company retreats in response to new US sanctions targeting its overseas operations.
RIC Energy and Siemens have signed a strategic agreement to develop industrial projects in renewable hydrogen, sustainable aviation fuel, and green ammonia, focusing on two key sites in Spain.
The Spanish oil group reported a net profit of €1.18bn over the first nine months of 2025, hit by unstable markets, falling oil prices and a merger that increased its debt.
Third-quarter results show strong resilience from European majors, supported by improved margins, increased production and extended share buyback programmes.
With a 5.6% increase in net profit over nine months, Naturgy expects to exceed €2bn in 2025, while launching a takeover bid for 10% of its capital and engaging in Spain’s nuclear debate.
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.
The study by Özlem Onaran and Cem Oyvat highlights structural limits in public climate finance, underscoring the need for closer alignment with social and economic goals to strengthen the efficiency and resilience of public spending.
Botaş lines up a series of liquefied natural gas (LNG, liquefied natural gas) contracts that narrow the space for Russian and Iranian flows, as domestic production and import capacity strengthen its bargaining position.
—
Iberdrola has installed the high-voltage direct current converter station for its East Anglia THREE wind farm, marking a key milestone in a €5 billion project.
Lukoil has started divesting its foreign assets following new US oil sanctions, a move that could reshape its overseas presence and impact supply in key European markets.
KazMunayGas has resumed oil shipments to Turkey through the Baku-Tbilisi-Ceyhan pipeline, following a stoppage due to a contamination issue resolved at the Aktau terminal.
Acciona Energía has sold its 65% stake in the Chiripa wind farm to Ecoenergía for an enterprise value of $80mn, as part of its international asset rotation strategy.
The United States is funding a new high-voltage line to integrate Moldova into the European electricity market, following the cutoff of supplies from the separatist Transnistria region.
Poland’s energy minister calls on European Union member states to collectively commit to halting Russian oil purchases within two years, citing increasing geopolitical risks.
The European Commission and the United States plan to intensify their economic measures against Russia, targeting the energy sector and cryptocurrencies in a new sanctions package.
Acciona Energía has completed the commissioning of its largest plant in India, a 412MWp solar facility capable of powering 840,000 households annually.
Russia and Indonesia overtook Australia as South Korea's top thermal coal suppliers in August, driven by lower prices and more reliable logistics amid persistent Australian shipment delays.
A Ukrainian national arrested in Italy will be extradited to Germany, where he is suspected of coordinating the 2022 attack on the Nord Stream 1 and 2 gas pipelines in the Baltic Sea.
The Iris carrier, part of the Arctic LNG 2 project, docked at China’s Beihai terminal despite US and EU sanctions, signalling intensifying gas flows between Russia and China.
Turbo Energy has secured a 366MWh contract to equip ten industrial sites in Spain with energy storage systems and a smart management platform, valued at approximately $53mn.
The accelerated arrival of Russian cargoes in China has lowered Asian spot LNG prices, but traffic is set to slow with the seasonal closure of the Northern Sea Route.
Shipments of liquefied natural gas and higher pipeline flows strengthen China’s gas optionality, while testing the sanctions regime and reshaping price–volume trade-offs for the next decade.
EDP Renováveis has completed the sale of twelve operational wind farms in France and Belgium to Amundi Transition Energétique for an enterprise value of €200mn ($215mn).
Brussels confirms its target to end all Russian energy imports by 2028, despite growing diplomatic pressure from Washington amid the ongoing conflict in Ukraine.
The Brazilian company expands its African footprint with a new offshore exploration stake, partnering with Shell and Galp to develop São Tomé and Príncipe’s Block 4.
Kazakhstan has signed an agreement with Nukem Technologies Engineering Services GmbH to benefit from German expertise in nuclear decommissioning and radioactive waste management.
The European Court of Justice annulled the European Commission's authorisation of Hungarian state aid for the Paks II nuclear project, questioning compliance with EU public procurement rules.
