Russia

Gwynt Glas secures key lease for 1.5GW floating wind farm off Welsh coast

Developer Gwynt Glas enters development phase after signing a lease agreement with The Crown Estate, paving the way for a 1.5GW floating offshore wind project in Welsh waters.

Uniper signs seven-year biomethane purchase agreement with Five Bioenergy

German group Uniper has entered into a long-term supply deal with Five Bioenergy for biomethane produced in Spain, with deliveries scheduled to begin in 2027.

Well-filled gas reserves could save Germany €25 billion in losses

An economic study reveals that Germany’s gas storage levels could prevent up to €25 billion in economic losses during a winter supply shock.
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Russia increases oil production and nears OPEC+ quota

Russian oil output moved closer to its OPEC+ allocation in September, with a steady rise confirmed by Deputy Prime Minister Alexander Novak.

Russia formally exits bilateral nuclear agreement with the United States

The State Duma has approved Russia’s formal withdrawal from a treaty signed with the United States on the elimination of military-grade plutonium, ending over two decades of strategic nuclear cooperation.

Ineos cuts 60 jobs in the UK and calls for antidumping duties

Amid rising energy costs and a surge in cheap imports, Ineos announces a 20% workforce reduction at its Hull acetyls site and urges urgent action against foreign competition.
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France blocks Aquind’s €1.4bn power link project across the Channel

The Seine-Maritime prefecture denies Aquind access to public maritime domain, halting a €1.4bn ($1.47bn) Franco-British power interconnection project.

ExxonMobil returns to Iraq with deal on Majnoon oil field

ExxonMobil has signed a memorandum of understanding with the Iraqi government to develop the Majnoon oil field, marking its return to the country after a two-year absence.

Oil rises 1.3% after limited OPEC+ output increase

Crude prices rose following the decision by the Organization of the Petroleum Exporting Countries and its allies to increase production only marginally in November, despite ongoing signs of oversupply.
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Spanish solar producers warn of impact from negative electricity prices

Spanish solar energy producers have recorded 693 hours of zero or negative prices since January, already matching the total for the previous year, raising concerns about the sector’s profitability and market stability.

Ukraine plans to increase gas imports by 30% after Russian strikes

The Ukrainian government is preparing to raise natural gas imports by 30% to offset damage to its energy infrastructure and ensure supply continuity during the winter season.

Belarus quadruples fuel exports to Russia in September

Rail shipments of Belarusian gasoline to Russia surged in September as Moscow sought to offset fuel shortages caused by Ukrainian attacks on its energy infrastructure.
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Tusk refuses to hand over Ukrainian suspect to Germany over Nord Stream sabotage

Polish Prime Minister Donald Tusk said it was not in Poland’s interest to extradite to Germany a Ukrainian citizen suspected of taking part in the explosions that damaged the Nord Stream gas pipelines in 2022.

Denmark strengthens maritime controls at Skagen Strait amid Russian shadow fleet activity

Denmark is intensifying inspections of ships passing through Skagen, a strategic point linking the North Sea and the Baltic Sea, to counter the risks posed by the Russian shadow fleet transporting sanctioned oil.

United Kingdom opens public consultation on Rolls-Royce modular reactor

The British government has launched a consultation on the regulatory justification request for Rolls-Royce’s modular reactor, a decisive step towards its approval in the country’s nuclear market.
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Global green ammonia market to reach $38.5bn by 2033, driven by large-scale projects

Green ammonia reaches a new industrial milestone with 428 active projects and over $11bn in investments, highlighting accelerated sector growth across Asia, the Middle East, Europe and the Americas.

Global renewable capacity set to double by 2030, led by solar power

According to the International Energy Agency (IEA), global renewable power capacity could more than double by 2030, driven by the rise of solar photovoltaics despite supply chain pressures and evolving policy frameworks.

Global natural gas power generation market to reach $122.49bn by 2030

Driven by rising electricity demand and grid flexibility needs, natural gas power generation is expected to grow at an annual rate of 4.8% through 2030.
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China opts for quarterly thermal coal contracts with Indonesia for 2026

Chinese buyers begin negotiations for 2026 thermal coal deliveries, favouring shorter contracts to maintain flexibility in a stable price environment.

Tenaz Energy acquires strategic North Sea gas assets for $339mn

Tenaz Energy finalised the purchase of stakes in the GEMS project between Dutch and German waters, aiming to boost production to 7,000 boe/d by 2026.

ABO Energy considers operating its own wind and solar parks

ABO Energy is assessing a shift to independent power production by operating its own renewable parks, signalling a major strategic move in a market that has become more favourable.

Envision Energy obtains an environmental declaration for its 6 MW wind turbines

Envision Energy has published an environmental product declaration for two of its turbines, a milestone certified to ISO standards aimed at strengthening its position in international wind markets.

BP approves Tiber-Guadalupe, $5 billion project in the Gulf of Mexico

BP commits $5 billion to Tiber-Guadalupe, with a floating platform targeting 80,000 barrels per day and first production in 2030, to increase its offshore volumes in the Gulf of Mexico.
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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.

Lhyfe becomes the leading European producer of RFNBO hydrogen by electrolysis

With the certification of three new sites, Lhyfe takes the lead in the European RFNBO hydrogen market, reaching 21 MW of installed capacity across France and Germany.
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Fortescue forges global industrial alliances to electrify its mining operations

Fortescue accelerates the decarbonisation of its operations by leveraging an international network of technology and industrial partners, targeting net zero at its mining sites by 2030.

Global hydrogen production to reach $322.3bn by 2035, driven by industry demand

The global hydrogen production market is expected to more than double by 2035, supported by technological advances and growing demand from transport, heavy industry and decarbonised energy systems.

Baker Hughes secures major contract with Petrobras for 50 subsea systems

Baker Hughes will supply up to 50 subsea trees and associated equipment to Petrobras to support offshore production in Brazil, strengthening its role in the development of pre-salt fields.
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Oilfield equipment market to reach $36.87bn by 2031 driven by global demand

Driven by rising global energy consumption and exploration investments, the oilfield service equipment market is expected to grow at a 5.39% CAGR to reach $36.87bn by 2031.

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.

Accelera installs 5MW electrolyser in Bavaria with Tyczka Hydrogen

Accelera will supply a 5MW electrolysis system at the Port of Schweinfurt, aiming to produce 2.2 tonnes of green hydrogen daily for industrial and logistics applications in central Germany.
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X-energy confirms feasibility of high-temperature modular reactor in Alberta

A technical report backed by the Government of Alberta confirms the potential of the Xe-100 reactor to meet the province’s industrial and electrical energy needs.

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.

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.
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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.

North Korea reportedly holds two tonnes of weapons-grade enriched uranium

Seoul estimates Pyongyang holds enough highly enriched uranium to produce up to 50 atomic bombs, reigniting concerns over its growing nuclear arsenal despite international sanctions.

Sinopec connects five provinces with 1,500 km hydrogen corridor along Yangtze River

Sinopec reaches a milestone in hydrogen logistics with a 1,500 km journey from Shanghai to Hubei, supported by a network of 146 stations and 11 supply centres.
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Fortescue signs with Envision to develop 132 MW of wind power in the Pilbara

Fortescue has selected Envision Energy to supply next-generation turbines in Australia, the first step in a project targeting 2 to 3 GW of renewable generation backed by batteries.

EVE Energy signs 500MWh with CommVOLT to accelerate European storage

EVE Energy seals a 500MWh strategic agreement with CommVOLT in Europe for commercial and industrial storage at Solar & Storage Live UK 2025, as its five MWh direct current system enters deployment.