Slovakia

Kyoto Group commissions world’s largest industrial thermal storage unit in Hungary

Norwegian-based Kyoto has launched a 56 MWh thermal storage system at KALL Ingredients in Hungary, designed to replace natural gas with renewable-based industrial heat.

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.

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.
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Brussels moves forward with plan to eliminate Russian oil and gas imports by 2028

Ambassadors of European Union member states have approved the transmission of a legislative proposal to phase out Russian fossil fuel imports by January 2028 to the Council of Ministers.

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.

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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JANAF and MOL begin crucial talks on Central European oil transport

Hungarian oil group MOL and Croatian operator JANAF are negotiating an extension of their crude transport agreement as the region seeks to reduce reliance on Russian oil.

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.

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.
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Ukrainian strike cuts power to 5,400 homes in Belgorod region

A night-time attack on Belgorod’s power grid left thousands without electricity, according to Russian local authorities, despite partial service restoration the following morning.

Ukrainian suspected in Nord Stream sabotage faces possible extradition

Polish authorities have 40 days to decide on the extradition of a Ukrainian accused of participating in the 2022 sabotage of the Nord Stream pipelines in the Baltic Sea.

Opec+ raises production by 137,000 barrels per day in November

Opec+ slightly adjusts its quotas for November, continuing its market share recovery strategy amid stagnant global demand and a pressured market.
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OPEC+ prepares new production hike amid rift between Riyadh and Moscow

Eight OPEC+ countries are set to increase oil output from November, as Saudi Arabia and Russia debate the scale of the hike amid rising competition for market share.

Hungary secures 10-year LNG contract with Engie through 2038

Hungary has signed a ten-year agreement with Engie for the annual import of 400 mn m³ of liquefied natural gas starting in 2028, reinforcing its energy diversification strategy despite its ongoing reliance on Russian gas.

Ukrainian suspected in Nord Stream sabotage held in Poland

Wanted by Germany for his alleged role in the 2022 sabotage of the Nord Stream pipelines, a Ukrainian has been arrested in Poland and placed in provisional detention pending possible extradition.
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China could supply gasoline to Russia if Moscow removes import duties

The potential removal by Moscow of duties on Chinese gasoline revives export prospects and could tighten regional supply, while Singapore and South Korea remain on the sidelines.

Russian strike cuts power to Chernobyl site, reigniting nuclear safety concerns

The containment structure over Chernobyl’s destroyed reactor lost power after a Russian strike, as Zaporizhzhia remains cut off from external electricity for over a week.

Empty reservoir explodes at Lukoil-Perm facility: no casualties reported

An empty reservoir exploded at a Lukoil-Perm oil facility in Russia, causing no injuries according to initial assessments pointing to a chemical reaction with oxygen as the cause of the accident.

Naftogaz Launches New Gas Well Despite Declining Production

Naftogaz announces the launch of a natural gas well with a daily output of 383,000 cubic meters, amid a sharp decline in Ukrainian production following several military strikes on its strategic facilities.

EBRD Lends €400 Million to Moldova to Secure Energy Supply

The European Bank for Reconstruction and Development lends €400 million to JSC Energocom to diversify Moldova's gas and electricity supply, historically dependent on Russian imports via Ukraine.
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Sonatrach and ENI Seal $1.35 Billion Contract in Algeria

Sonatrach and ENI have signed a $1.35 billion production-sharing agreement aiming to extract 415 million barrels of hydrocarbons in Algeria's Berkine basin, strengthening energy ties between Algiers and Rome.

Russia-Saudi Arabia trade increases by 60% to USD 3.8 billion

Trade between Russia and Saudi Arabia grew by over 60% in 2024 to surpass USD 3.8 billion, according to Russian Minister of Industry and Trade Anton Alikhanov, who outlined new avenues for industrial cooperation.

BRICS Advocate for Energy Market Stability Amid Sanctions

Meeting in Rio, BRICS nations urge global energy market stability, openly condemning Western sanctions and tariff mechanisms in a tense economic and geopolitical context.
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OPEC+ Significantly Raises Oil Quotas with Additional 548,000 Barrels

Major oil producers accelerate their return to the market, raising their August quotas more sharply than initially expected, prompting questions about future market balances.

Czech Republic hit by massive power outage disrupting the economy

A major electricity blackout paralyzed large parts of the Czech Republic, interrupting transport and essential networks, raising immediate economic concerns, and highlighting the vulnerability of energy infrastructures to unforeseen technical incidents.

Egypt accelerates El-Dabaa national grid connection for 2026

Cairo is stepping up connection works for the planned 4,800 MW El-Dabaa nuclear plant, developed with Rosatom, to feed the grid from 2026 with output equal to about seven % of national electricity.
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BRICS: solar production exceeds 50% of global total in 2024

Emerging economies from the BRICS group now account for more than half of global solar electricity production in 2024, driven mainly by China, India, and Brazil, according to a new report by the organisation Ember.

Iran: Oil Dependence Limits Alliances with Moscow and Beijing

Despite strong ties, Iran's dependence on oil revenues limits its ability to secure substantial strategic support from Russia and China amid current international and regional crises, according to several experts.

Westinghouse wins $180mn contract to assemble ITER experimental reactor

Westinghouse Electric Company signs a $180mn contract with ITER Organization to complete the final assembly of the vacuum vessel for ITER’s experimental nuclear fusion reactor, currently under construction in Cadarache, southern France.
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Orlen ends Russian oil purchases for Czech refinery after contract expiry

Orlen announces the definitive halt of its Russian oil purchases for the Czech Republic, marking the end of deliveries by Rosneft following the contract expiry, amid evolving logistics and diversification of regional supply sources.

Chinese independent refiners poised to increase fuel oil imports

The anticipated increase in the tax deduction rate may encourage independent refineries in Shandong to restart fuel oil imports, compensating for limited crude oil import quotas.

Sasol and Akuo sign major solar energy supply agreement

Sasol International Chemicals concludes a virtual contract with Akuo to supply half of the electrical needs for its Lake Charles industrial complex in the United States, via a solar plant scheduled for 2026.
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Europe extends gas storage obligations until 2027

The European Union extends gas storage regulations by two years, requiring member states to maintain a minimum fill rate of 90% to ensure energy security and economic stability amid market uncertainties.

Brno rejects EDF lawsuit over Czech nuclear contract

A regional court has upheld the award of two new reactors in the Czech Republic to Korea Hydro & Nuclear Power, dismissing Électricité de France’s challenge to the €16bn contract in a decisive step for the national energy programme.

Russia Forecasts Drop in Electricity Exports to China

The Russian company InterRAO anticipates a 4% annual reduction in electricity exports, primarily impacted by a significant decrease in shipments to China due to limited hydroelectric production and rising domestic demand.
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Hungary and Slovakia jointly oppose European ban on Russian energy

Budapest and Bratislava jointly reject the European Commission's proposal to ban Russian energy supplies, highlighting significant economic risks and a direct threat to their energy security, days ahead of a key meeting.

Russia and Mali Sign Trade Agreements and Target Nuclear Energy

Russia strengthens its economic presence in Mali with new agreements, notably in nuclear energy and gold refining, consolidating strategic cooperation within a rapidly evolving geopolitical context.