Norway

Solar growth in Central Europe has doubled that of the European Union since 2019, reshaping the energy mix and boosting battery manufacturing in the region.
Russia plans to ship 2.1 million barrels per day from its western ports in September, revising exports upward amid lower domestic demand following drone attacks on key refineries.

Hynfra signs $1.5bn framework agreement for green ammonia in Mauritania

Hynfra PSA strengthens its presence in West Africa with a $1.5bn green ammonia project, backed by the Mauritanian government, with commercial operations expected to start by 2030.
en_1140909267540
Vantage Drilling has finalised a major commercial agreement for the deployment of the Platinum Explorer, with a 260-day offshore mission starting in Q1 2026.
OPEC+ begins a new phase of gradual production increases, starting to lift 1.65 million barrels/day of voluntary cuts after the early conclusion of a 2.2 million barrels/day phaseout.

Two sanctioned Russian LNG carriers deliver to China despite restrictions

The Voskhod and Zarya vessels, targeted by Western sanctions, departed China’s Beihai terminal after potentially offloading liquefied natural gas from the Arctic LNG 2 project.
en_114080920255540
Norwegian company BlueNord has revised downward its production forecasts for the Tyra gas field for the third quarter, following unplanned outages and more impactful maintenance than anticipated.
Eight OPEC+ members will meet to adjust their quotas as forecasts point to a global surplus of 3 million barrels per day by year-end.

Greek shipowners cut Russian crude links under new compliance rules

Greek shipping companies are gradually withdrawing from transporting Russian crude as the European Union tightens compliance conditions on price caps.
en_114070920259540
The Ukrainian president demanded that Slovakia end its imports of Russian crude, offering an alternative supply solution amid ongoing war and growing diplomatic tensions over the Druzhba pipeline.
A key station on the Stalnoy Kon pipeline, essential for transporting petroleum products between Belarus and Russia, was targeted in a drone strike carried out by Ukrainian forces in Bryansk Oblast.

UK prepares new oil tax regime to revive UKCS competitiveness

The United Kingdom is set to replace the Energy Profits Levy with a new fiscal mechanism, caught between fairness and simplicity, as the British Continental Shelf continues to decline.
en_11405092934540
An American-built electric aircraft completed a test flight between Stavanger and Bergen, marking a key step in integrating zero-emission air cargo operations into Norwegian airspace.
Orsted and two U.S. states have taken federal legal action to contest the abrupt halt of the Revolution Wind project, a $5 billion offshore venture now at risk of prolonged suspension.

Lyten restarts Northvolt operations in Sweden with former executive team

Following its acquisition of Northvolt’s assets, US-based Lyten has appointed several former executives of the Swedish battery maker to key roles to restart production in Europe.
en_11405092926540
Rosneft Germany announces the resumption of oil deliveries to the PCK refinery, following repairs to the Druzhba pipeline hit by a drone strike in Russia that disrupted Kazakh supply.
The new Russian railway line linking the Elga mine to the Sea of Okhotsk port will reach full capacity in 2026, after an operational testing phase scheduled for 2025.

Indian imports of Russian oil rise 15% in first half of 2025

India increased its purchases of Russian oil and petroleum products by 15% over six months, despite new US trade sanctions targeting these transactions.
en_114030937540
Gazprom and China National Petroleum Corporation have signed a binding memorandum to build the Power of Siberia 2 pipeline, set to deliver 50 bcm of Russian gas per year to China via Mongolia.
Russian group T Plus plans to stabilise its electricity output at 57.6 TWh in 2025, despite a decline recorded in the first half of the year, according to Chief Executive Officer Pavel Snikkars.
Ukrainian Deputy Energy Minister and three accomplices arrested on corruption charges. The operation is part of Ukraine's strategy to strengthen transparency and meet European Union requirements.
A fire in the cooling system at the Russian-controlled Zaporizhia nuclear power plant has been brought under control. The IAEA confirms that there is no immediate nuclear danger, but continues to monitor the situation closely.

Glencore Maintains Coal Activities Despite Pressure

Glencore decided to retain its coal activities, despite shareholder and environmental pressure, while leaving the door open to a possible demerger in the future.
Exploitation Glencore
Spot LNG prices in Asia are at their highest level for seven months, driven by tensions over Russian supplies and rising demand amid extreme weather conditions.
In July, OPEC+ produced 437,000 barrels per day in excess of quotas, jeopardizing reduction plans and exacerbating the challenges facing an oil market already under pressure.

Norsk Kjernekraft submits a project for a nuclear power plant in Øygarden

Norsk Kjernekraft is proposing to build a nuclear power plant at Øygarden, using small modular reactors, to support industrial electrification and secure Norway's energy supply.
Øygarden, Norvège
BP and the UK government finalize funding discussions for H2Teesside, a 1.2 GW blue hydrogen power plant. The project is crucial to the UK's industrial decarbonization and energy transition.
A report by Wood Mackenzie reveals that replacing Norwegian hydrocarbons with imports would increase emissions by 230 million tonnes of CO2 from 2024 to 2040.

Europe faces the uncertainty of Russian gas transit via Ukraine

The imminent expiry of the gas transit agreement between Russia and Ukraine in 2024 could lead to major disruptions in energy supplies to several European countries, exacerbating current geopolitical tensions.
Pipeline en Ukraine
Harbour Energy confirms the progress of its Talbot project in the North Sea, with commissioning scheduled by the end of 2024, aimed at increasing oil and gas production.
Western insurers continue to cover Russian oil shipments, despite restrictions imposed by the G7 aimed at limiting Moscow's revenues.

European gas prices peak after Ukrainian offensive in Russia

Gas prices in Europe are soaring following the Ukrainian incursion into Russia, raising concerns about European energy supplies.
Russian oil exports by non-G7 tankers fell by 10% in July as a result of Western sanctions, leading to a reduction in international deliveries.
Naftogaz is discussing gas transit and storage with Socar via Ukraine, ruling out any contract extension with Gazprom.

Gazprom maintains gas transit via Ukraine despite Sudzha conflict

Gazprom's gas transit through Ukraine continues despite clashes near the Russian border town of Sudzha.
The European Bank for Reconstruction and Development (EBRD) supports Tunisia's energy transition by financing two 60 MW solar power plants in Tozeur and Sidi Bouzid.
India is embarking on a new phase in its nuclear program, with the imminent commissioning of RAPP-7 and ambitious targets for 2032.

Ukraine calls Lukoil supply situation political

According to Naftogaz, the controversy surrounding the ban on Lukoil oil transit through Ukraine is politicized. The volumes of oil delivered to Hungary and Slovakia remain unchanged despite the sanctions imposed.
Politique et transit de pétrole Lukoil
Saudi Aramco's new official sales prices for September were lower than expected, reflecting weak refining margins in Asia and the forthcoming OPEC+ production increase.
Saudi oil giant Aramco posted second-quarter net income of $29.07 billion, down slightly on the previous year, due to lower production volumes and refining margins.