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Kazakhstan

Westinghouse secures $114mn contract to supply fuel to Paks nuclear plant
MVM Group has signed an agreement with Westinghouse to secure VVER-440 fuel supplies from 2028, reducing its reliance on Russia and strengthening nuclear cooperation between Budapest and Washington.
Chevron strengthens post-Hess strategy and reassures markets on growth
In New York, Chevron outlines its long-term vision following the Hess integration, focusing on financial stability, spending reduction, and record production to consolidate investor confidence.

Washington locks in Kazakh tungsten supply and frames its C5+1 bet

The United States secures a tungsten joint venture in Kazakhstan and mining protocols in Uzbekistan, with financing envisaged from the Export-Import Bank of the United States and shipment routed via the Trans-Caspian corridor.
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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.
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.

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.
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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.

Pakistan cancels 21 Eni LNG cargoes and seeks to renegotiate its contracts with Qatar

Pakistan cancels 21 planned LNG cargoes from Eni due to a gas surplus and negotiates with Qatar for potential deferment or resale of shipments.
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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.
Equinor posts adjusted operating income of USD 6.21bn in Q3 2025
Equinor reported 7% production growth and strong cash flow, despite lower hydrocarbon prices weighing on net results in the third quarter of 2025.

Excelerate Energy to build Iraq’s first floating LNG terminal in $450 mn deal

Excelerate Energy has signed a definitive agreement with Iraq’s Ministry of Electricity to develop a floating liquefied natural gas import terminal at Khor Al Zubair, with a projected investment of $450 mn.
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Turkey locks in 19 Bcma of LNG, Moscow and Tehran under pressure
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. —
Kazakhstan begins negotiations to export uranium to Finland
Talks are underway between Astana and Helsinki to consider the delivery of Kazakh uranium for Finnish nuclear power plants, amid efforts to diversify energy export markets.

Lukoil begins sale of international assets after new US sanctions

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.
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Kazakhstan considers swift decision on Lukoil’s local assets
Kazakhstan is reviewing Lukoil's stakes in major oil projects after the Russian group announced plans to divest its international assets following new US sanctions.
Baghdad in talks over OPEC quota despite exports at 3.6 million barrels
Iraq is negotiating a potential revision of its OPEC production limit while maintaining exports at around 3.6 million barrels per day despite significantly higher capacity.

Orban attend des garanties énergétiques lors de sa rencontre avec Trump à Washington

Le Premier ministre hongrois se rendra à Washington pour discuter avec Donald Trump des sanctions américaines contre le pétrole russe, dans un contexte de guerre en Ukraine et de dépendance persistante de la Hongrie aux hydrocarbures russes.
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The EU sanctions CNPC units as ESPO pipeline flows remain stable
The European Union targets a trading subsidiary and a refinery linked to China National Petroleum Corporation, tightening access to financial and insurance services without disrupting pipeline deliveries, with reallocations expected in settlements, insurance, and logistics. —
Hungary seeks to maintain Russian oil imports despite sanctions
Viktor Orban says he is working to bypass recent US sanctions targeting Rosneft and Lukoil, underscoring Hungary’s continued reliance on Russian hydrocarbons.
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INNIO deploys 450 MW flexible power plant to support UK grid
India and Russia strengthen nuclear cooperation with new projects
India signs major US LPG deal under diplomatic pressure
NextNRG posts 196% revenue growth in October
COP29: Climate Promises Under Tension, Developing Countries Demand More
In Baku, wealthy nations pledge $300 billion annually by 2035 to assist vulnerable nations facing climate challenges. A promise deemed insufficient amid diplomatic tensions and an urgent climate crisis.
COP29: China’s Rejection Triggers a Deadlock on Climate Financing
At COP29, China refuses to agree to a climate financing proposal, deepening North-South tensions and threatening global objectives in the fight against climate change.

Strategic Alliance Between Russia and Iraq: Stabilizing Oil Prices Through OPEC+

Russia and Iraq strengthen their cooperation within OPEC+ to manage oil price fluctuations. This coordination is crucial for their respective budgets amidst sanctions and heavy reliance on oil revenues.
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COP29: Financial tensions reveal fractures in energy diplomacy
The COP29 negotiations highlight the critical stakes of energy diplomacy, where climate financing and fossil fuel commitments divide developed and developing countries.
Brazil Commits to a Global Debate on Ending Fossil Fuels at COP30
As it prepares to host COP30 in 2025, Brazil, a major oil producer, aims to play a key role in the energy transition by promoting a global discussion on the gradual reduction of fossil fuels.

South Africa: C5 Capital and Sibanye-Stillwater Partner to Advance Nuclear Energy Innovation

C5 Capital and Sibanye-Stillwater join forces to develop advanced nuclear energy projects in South Africa, the United States, and beyond, supporting the global energy transition with innovative solutions.
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Hungary Revises the Cost of Its Paks II Nuclear Project Upward
Hungary proposes a budget increase for its Paks II nuclear project, a strategic initiative funded by Russia but facing technical, economic, and geopolitical challenges.
COP29: France Calls for Increased Efforts to Phase Out Fossil Fuels
Amid international tensions and limited progress in Baku, France stresses the importance of reaffirming the goal of phasing out fossil fuels, highlighting crucial financial and climate stakes for the future.

COP29: Japan aligns with the EU on NCQG and takes a neutral stance on CBAM

At COP29, Japan aligns with the EU on climate finance contributions and adopts a measured approach to the Carbon Border Adjustment Mechanism (CBAM), while reviewing its long-term energy objectives.
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COP29: NGOs Disappointed by Lack of Clear Commitments on Fossil Fuels
At COP29 in Baku, NGOs criticized the G20 for lacking leadership on energy transition. Despite progress on climate finance, the absence of commitments on fossil fuels provoked sharp disappointment.
Masdar and SOCAR finalize financing for 760 MW solar projects in Azerbaijan
Masdar and SOCAR Green have closed the financing for two solar parks with a total capacity of 760 MW in Azerbaijan, a strategic project valued at USD 600 million and supported by multiple international financial institutions.

Al Gore denounces the role of petro-states in organizing COPs

During COP29 in Baku, Al Gore criticized the organization of climate conferences in petro-states and called for a reform of the selection process for host countries and participants, accusing these nations of conflicts of interest.
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The Controversial Role of Fossil Fuels at COP29: A Transition or Lobbying Issue?
COP29 in Baku highlights the massive presence of fossil fuel representatives. Between lobbying and energy necessity, the debate on their role in the climate transition intensifies.
TotalEnergies: at COP29, Patrick Pouyanné advocates progress “step by step”
At COP29, TotalEnergies CEO Patrick Pouyanné defended the oil industry's commitment to reducing methane emissions, emphasizing the importance of gradual progress in addressing the climate crisis.

North Macedonia: A Strategic Partnership with SOCAR for Energy Security

North Macedonia strengthens its energy security with an agreement with SOCAR, aiming at the diversification of natural gas supplies and innovative projects like gas cogeneration.
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Six new countries commit to tripling global nuclear production by 2050
At COP29, six countries joined an ambitious declaration to triple global nuclear capacity by 2050, bringing the number of signatories to 31, backed by major financial institutions.
China: New Ambitious Climate Goals Unveiled at COP29
The Chinese vice premier announced revised commitments aimed at achieving carbon neutrality before 2060, while pledging increased financial contributions to support developing countries in addressing climate challenges.

Indonesia and Japan: First Bilateral Mutual Recognition Agreement for Carbon Trading

Indonesia and Japan establish a historic collaboration for carbon credit trading under the Paris Agreement, enhancing transparency and international environmental standards.
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COP29: Brazil Calls for Responsible Use of Natural Resources
At COP29, Brazilian Environment Minister Marina Silva responded to the Azerbaijani president's remarks, advocating for the measured use of natural resources, especially oil, while affirming Brazil’s climate commitments.
Nexans sets ambitious financial goals driven by electrification
Nexans aims for increased financial performance by 2028, supported by significant investments in global electrification and a strategy focused on energy transition and recycling.
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