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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.

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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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.
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Swiss trader Gunvor has withdrawn its $22bn offer to acquire Lukoil’s international assets after the US Treasury announced it would block any related operating licence.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.
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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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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. —
Poland: Orlen Consolidates Gas, Targets Regional Hub Without Liberalization
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.

Bulgaria halts fuel exports to EU after sanctions on Lukoil

Sofia temporarily restricts diesel and jet fuel exports to safeguard domestic supply following US sanctions targeting Lukoil, the country’s leading oil operator.
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Lukoil sells its African oil assets to Gunvor under pressure from US sanctions
Swiss trader Gunvor will acquire Lukoil’s African stakes as the Russian company retreats in response to new US sanctions targeting its overseas operations.
Washington temporarily authorises operations linked to Rosneft’s German assets
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.

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. —
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Iberdrola installs its first offshore HVDC station in the United Kingdom
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 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.

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.
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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.
Italian court approves extradition of Ukrainian suspect in Nord Stream case
An Italian appeal court has approved the extradition to Germany of a former Ukrainian commander suspected of coordinating the 2022 sabotage of the Nord Stream gas pipeline, a decision now challenged in cassation.
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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
Iberdrola reshapes its portfolio to become a leader in transatlantic regulated networks
KEPCO and ENEC strengthen alliance on nuclear and artificial intelligence
Russian oil tanker Boracay resumes voyage after being seized by France
After being intercepted by the French navy, the Boracay oil tanker, linked to Russia's shadow fleet, left Saint-Nazaire with its oil cargo, reigniting tensions over Moscow’s circumvention of European sanctions.
Russian crude exports hit 18-month high despite sanctions pressure
Russian seaborne crude shipments surged in September to their highest level since April 2024, despite G7 sanctions and repeated drone strikes on refinery infrastructure.

Moscow rules out diesel export ban for producers

Russia’s Energy Ministry stated it is not considering blocking diesel exports from producers, despite increasing pressure on domestic fuel supply.
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Fluxys declares force majeure at Dunkirk, disrupting LNG deliveries
The Dunkirk LNG terminal, the second largest in continental Europe, is seeing reduced capacity due to a nationwide strike disrupting all French LNG infrastructure.
Russia extends ban on gasoline and diesel exports until 2025
The Russian government has extended the ban on gasoline and diesel exports, including fuels traded on the exchange, to preserve domestic market stability through the end of next year.

Ukrainian operator plans 20% increase in transmission tariffs for 2026

Ukrenergo plans to raise electricity transmission tariffs by 20% in 2026 to cover technical costs and obligations tied to international loans.
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Medvedev announces the rise of public investment in nuclear and AI
The Vice-Chairman of Russia’s Security Council believes more countries will develop nuclear weapons and generative AI technologies as a result of increasing public sector efforts.
Russia targets 56 mn tonnes of LNG annually by 2027 despite 2024 decline
Russia’s liquefied natural gas output will increase steadily through 2027 under the national energy development plan, despite a 6% drop recorded in the first eight months of 2024.

Asia could absorb more Russian LNG after the European embargo in 2027

The European ban on Russian liquefied natural gas from 2027 is pushing Siberian producers to reorient their flows to Asia, despite logistical and regulatory constraints.
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Natural uranium will be sufficient to fuel nuclear reactors until 2100
The International Atomic Energy Agency says known natural uranium reserves will meet global nuclear power plant demand for the rest of the century, despite price pressures.
Russian oil and gas revenues seen falling to $206.1bn in 2025
Russia projects a 12.5% contraction in oil and gas revenues in 2025, before a gradual recovery through 2028, according to official economic projections.

US sanctions against NIS postponed by eight days, says Belgrade

US sanctions against Serbian oil company NIS, owned by Gazprom, were delayed by eight days after talks between Belgrade and Washington, President Aleksandar Vucic said.
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HiTHIUM signs 2GWh deal with Solarpro for large-scale storage projects in Eastern Europe
Storage provider HiTHIUM will supply 2GWh of batteries to Solarpro for multiple large-scale projects across the Balkans and Central Europe.
U.S. oil drilling rebounds amid global tensions
The number of active drilling rigs in the United States rose for the fourth consecutive week, supported by higher crude prices and OPEC+’s difficulties in meeting production targets.

IAEA warns of drone activity near Ukrainian nuclear facilities

Drones were detected within 500 metres of the South Ukraine nuclear power plant, while Zaporizhzhia remains without off-site power.
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Putin calls for new financing models for global nuclear energy
At World Atomic Week in Moscow, the Russian president advocated for a reform of civil nuclear funding mechanisms, urging stronger involvement from multilateral financial institutions.
UN sanctions on Iran reactivated, increased pressure on trade
The activation of the snapback mechanism reinstates all UN sanctions on Iran, directly affecting the defence, financial and maritime trade sectors.

Nuclearelectrica secures €620mn for strategic Cernavoda projects

Romanian producer Nuclearelectrica has secured €620mn in funding to modernise Cernavoda unit 1 and launch the next phase of units 3 and 4, backed by a banking syndicate led by JP Morgan.
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United States offers India a way out of Russian oil amid trade tensions
Washington offers New Delhi an alternative to its Russian imports while maintaining tariff pressure, exposing a double standard in US energy policy.
Dispute escalates between MOL and Janaf over Adriatic pipeline’s supply capacity
A technical dispute between Hungarian group MOL and Croatian operator Janaf raises doubts about the Adriatic pipeline's ability to supply oil to Hungary and Slovakia.
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