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Kuwait

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.
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.

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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KNPC plans gas production increase to 18.3 million cylinders by 2027
Kuwait National Petroleum Company aims to boost gas production to meet domestic demand driven by demographic growth and new residential projects.
Kuwait in talks for 1.5 GW battery storage to ease grid pressure
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 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.
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.

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.
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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.
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.
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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.
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.
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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.
SLB launches Tela, an agentic artificial intelligence for upstream oil operations
SLB has unveiled Tela, an agentic artificial intelligence technology designed to automate upstream processes and enhance operational efficiency at scale.

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.
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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.
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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
Trump reignites tensions over India’s imports of Russian oil
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.
Santos cuts 2025 production forecast again due to technical issue
Australian group Santos lowers its annual production forecast after an unplanned shutdown at the Barossa project and delayed recovery in the Cooper Basin.

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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Brent under pressure: traders expect prices to fall towards $60
Major global oil traders anticipate a continued decline in Brent prices, citing the fading geopolitical premium and rising supply, particularly from non-OPEC producers.
Gotion High-Tech unveils 20 MWh mega battery to support Riyadh
Gotion High-Tech presented in Saudi Arabia a modular 20 MWh storage solution aimed at strengthening the country's energy capacity under its Vision 2030 strategy.

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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Midad Energy signs $5.4bn contract with Sonatrach in Algeria
Sonatrach and Midad Energy North Africa signed a production-sharing hydrocarbon contract in the Illizi South perimeter, involving a total investment estimated at $5.4bn for exploration and exploitation of the site.
Global energy demand rises by 40 million barrels of oil equivalent per day
Aramco CEO Amin Nasser warns of growing consumption still dominated by hydrocarbons, despite massive global energy transition investments.

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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Koweït découvre un champ gazier offshore de 28,3 milliards de m³
Kuwait Petroleum Corporation annonce une découverte majeure dans la zone offshore avec le champ de Jazah, soutenant les efforts publics d’investissement dans les infrastructures énergétiques nationales.
Unipec redirects supertanker to Ningbo after US sanctions
The New Vista vessel, loaded with Abu Dhabi crude, avoided Rizhao port after the United States sanctioned the oil terminal partly operated by a Sinopec subsidiary.

OPEC maintains demand forecast and lowers expected 2026 deficit

OPEC confirms its global oil demand growth forecasts and anticipates a much smaller deficit for 2026, due to increased production from OPEC+ members.
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Russia taps into Tajikistan’s rivers and cotton for joint ventures
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.

Australia loses Asian markets for seaborne thermal coal

Falling Chinese imports and Asia’s regional pivot increase pressure on Australian thermal coal exporters.
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Rosatom begins excavation for small modular reactor project in Uzbekistan
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.
Washington targets Iranian oil with new sanctions on phantom fleet
The US Treasury Department has imposed sanctions on more than 50 entities linked to Iranian oil exports, targeting Chinese refineries and vessels registered in Asia and Africa.

Engie and Masdar secure 1.5 GW solar project in Abu Dhabi

The consortium led by Engie and Masdar has been selected to develop a 1.5 GW photovoltaic plant in Abu Dhabi, aimed at expanding the emirate’s solar capacity under its long-term energy strategy.
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Algeria signs two oil assessment agreements with Petrogas E&P
Alnaft has signed two study agreements with Omani firm Petrogas E&P on the Touggourt and Berkine basins, aiming to update hydrocarbon potential in key oil-producing areas.
US sanctions hit NIS, a key player in Serbia’s oil market
Serbian oil company NIS, partially owned by Gazprom, faces newly enforced US sanctions after a nine-month reprieve, testing the country's fuel supply chain.
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