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Petrobras strengthens its grip on Brazil’s spot gasoline market after Refit and SSOil exit
The removal of two Brazilian refiners and Petrobras’ pricing offensive reshuffle spot volumes around Santos and Paranaguá, shifting competition ahead of a planned tax increase in early 2026.
EDF power solutions launches hydrogen pilot plant in Macaé to strengthen assets in Brazil
EDF power solutions has inaugurated a hydrogen pilot plant at the Norte Fluminense thermal power plant, with an investment of BRL4.5mn ($882,000), as part of Aneel's R&D programme.

Gavin Newsom seeks to reposition California as an autonomous player amid US withdrawal

Governor Gavin Newsom attended the COP30 summit in Belém to present California as a strategic partner, distancing himself from federal policy and leveraging the state's economic weight.
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India turns to Angolan oil to bypass Russian constraints
India boosts crude imports from Angola amid tightening U.S. sanctions on Russia, seeking low-risk legal diversification as scrutiny over cargo origins increases.
Tata Power to produce 10 GW of wafers to dominate India’s solar upstream
Tata Power is preparing a 10 GW ingot and wafer facility to consolidate its domestic solar chain, secure supplies, and capture PLI incentives ahead of 2026 local content mandates.

Adani Group invests in a mega battery storage project in Khavda

Adani Group launches a 1126 MW project in Khavda, marking its first entry into energy storage, with one of the largest BESS systems ever built at a single site.
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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.
Quino Energy raises $16mn to industrialise organic electrolytes for flow batteries
Quino Energy secures $16mn in funding to scale global production of its organic electrolytes, with strategic support from investor Atri Energy Transition.

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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The “Belém 4x” pledge targets global sustainable fuels surge by 2035
Nineteen countries, led by Brazil, Italy, Japan and India, aim to quadruple sustainable fuel production by 2035, marking a major industrial and regulatory challenge for global energy and transport supply chains.
L’Union africaine réclame une réforme des règles de financement climatique avant la COP30
À l’approche de la COP30, l’Union africaine demande une refonte des mécanismes de financement climatique pour garantir des ressources stables et équitables en faveur de l’adaptation des pays les plus vulnérables.

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.
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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.
Global energy efficiency slows to 1.8% in 2025, far from COP28 target
Global energy efficiency progress remains below the commitments made in Dubai, hindered by industrial demand and public policies that lag behind technological innovation.

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.
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Indonesia records 836 Mt coal output in 2024 despite falling revenues
Indonesia’s coal overproduction has cut state revenues and company profits, while methane emissions from mines far exceed official figures.
Lula defends funding energy transition through oil revenues
Ahead of COP30 in Belém, Brazilian President Luiz Inacio Lula da Silva adopts a controversial stance by proposing to finance the energy transition with proceeds from offshore oil exploration near the Amazon.

Petrobras increases net profit in third quarter driven by production growth

Petrobras reported a net profit of $6 billion in the third quarter, supported by rising production and exports despite declining global oil prices.
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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.
Brazil extends coal usage despite dominance of renewable energy
The Brazilian government is granting new contracts to coal-fired power plants until 2040, illustrating the weight of regulatory decisions and industrial interests in a country predominantly powered by renewable energy.
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Sunsure Energy signs long-term solar agreement with Bisleri in India
Vikram Solar opens 5 GW plant in Vallam, reaches 9.5 GW capacity
InCommodities signs 15-year storage deal with AMPYR in Australia
South Africa inaugurates transmission station to integrate 900 MW of renewables
Aksa Enerji to build 119 MW thermal power plant in Burkina Faso
EU approves ban on Russian gas imports by end of 2027
European Union member states have approved the principle of a full ban on Russian natural gas imports, set to take effect by the end of 2027.
Vantage Drilling cancels a $80m contract after a major regulatory shift
Vantage Drilling halted a 260-day drilling contract for the vessel Platinum Explorer following a rapid evolution of international sanctions regimes that made the campaign non-compliant with the applicable legal framework shortly after it was signed.

The United States keeps 50% duties if India buys Russian crude

Washington ties the removal of additional duties to a verifiable decline in India’s imports of Russian crude, while New Delhi cites already-committed orders and supply stability for the domestic market.
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China cuts its oil surplus to 570,000 barrels per day and prepares a cycle of strategic purchases
The decline in imports and the rise in refining in September reduced China’s crude surplus to its lowest in eight months, opening the way for tactical buying as Brent slips below 61 dollars.
CMA CGM orders six LNG container ships from India’s Cochin Shipyard
CMA CGM becomes the first international container shipping company to commission LNG-powered ships from an Indian shipyard, all to be registered under the Indian flag.

Brazil and China sign agreement on radioisotope supply

Brazil and China have concluded a three-year agreement to secure access to essential radioisotopes for the medical, industrial and scientific sectors, with no financial exchange between the parties.
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Sigma Lithium joins Morgan Stanley’s national security index
Brazilian producer Sigma Lithium has been included in a thematic index by Morgan Stanley grouping US-listed companies considered essential to national security and strategic supply chains.
IMO delays maritime carbon tax talks by one year under Saudi-led motion
Talks on the Net-Zero Framework, which seeks to regulate greenhouse gas pricing on marine fuels, have been postponed until 2026 following a majority vote initiated by Saudi Arabia.

ReNew receives revised $8.15 per share bid led by Masdar and ADIA

A consortium led by Masdar and CPP Investments proposes to acquire all of ReNew at $8.15 per share, representing a 15.3% increase over the initial offer.
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Asian LNG activity hits seasonal high despite muted demand
Platts' physical pricing platform records its second-highest LNG trading volume, with nearly 1.5 million tonnes exchanged despite regional demand slowdown.
Reliance Industries posts $2.06bn net profit in second quarter
Reliance Industries reported a 9.67% increase in net profit in the second quarter of fiscal year 2025–2026, driven by recovering petrochemical margins and continued growth in its retail and telecom operations.

Schröder defends Nord Stream 2 before German commission over Russian ties

Former German Chancellor Gerhard Schröder supported the Nord Stream 2 pipeline before an inquiry, dismissing criticism over his role and Russian funding linked to the project.
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EU bans co-processing to block imports of Russian oil products
The European Commission imposes new rules requiring proof of refined crude origin and excludes the use of mass-balancing to circumvent the Russian oil ban.
Russia definitively ordered to pay $50bn to former Yukos shareholders
The Dutch Supreme Court has rejected Russia's final appeal, confirming a record $50bn compensation to former Yukos shareholders, ending two decades of legal battle.

Trump says Modi will stop Russian oil purchases amid rising tensions

Donald Trump says he secured Narendra Modi’s commitment to end Russian oil imports, adding political pressure to India-Russia trade relations.
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United States secures postponement of carbon tax vote at the IMO
Under intense diplomatic pressure from Washington, member states of the International Maritime Organization agreed to postpone by one year the adoption of a carbon pricing mechanism for global maritime transport.
Brussels seeks to ban Russian gas and oil by 2027 in major diplomatic move
Two European Parliament committees propose to advance the full halt of Russian hydrocarbon imports to 2026 and 2027, including oil, gas, and LNG, strengthening the European Union’s geopolitical position.

Global copper demand projected to grow 24% by 2035

The rise of data centres, electrification, Asian industrialisation and military spending are reshaping global copper market dynamics, while insufficient mining investment could increase price volatility.
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China rejects US pressure over Russian oil imports
Beijing calls Donald Trump's request to stop importing Russian crude interference, denouncing economic coercion and defending what it calls legitimate trade with Moscow.
Washington urges Japan to cut energy ties with Russia
The United States has called on Japan to stop importing Russian gas, amid rising tensions over conflicting economic interests between allies in response to the indirect financing of the war in Ukraine.
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