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Westinghouse secures $114mn contract to supply fuel to Paks nuclear plant
MVM Group has signed an agreement with Westinghouse to secure VVER-440 fuel supplies from 2028, reducing its reliance on Russia and strengthening nuclear cooperation between Budapest and Washington.
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Swiss trader Gunvor has withdrawn its $22bn offer to acquire Lukoil’s international assets after the US Treasury announced it would block any related operating licence.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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Le TAP augmente ses nominations de gaz aux interconnexions européennes clés
Les nominations du Trans Adriatic Pipeline progressent à Melendugno, Nea Mesimvria et Komotini, signalant davantage d’offre pipeline et une flexibilité accrue pour les expéditeurs face aux arbitrages avec le gaz naturel liquéfié.
The UN validates an Article 6.4 methodology for landfill methane
The Paris Agreement Crediting Mechanism formalizes a landfill-methane methodology, imposes an investment-based additionality test, and governs issuance of traceable units via a central registry, with host-country authorizations and corresponding adjustments required.

Equinor posts adjusted operating income of USD 6.21bn in Q3 2025

Equinor reported 7% production growth and strong cash flow, despite lower hydrocarbon prices weighing on net results in the third quarter of 2025.
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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. —
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.
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Baghdad in talks over OPEC quota despite exports at 3.6 million barrels
Iraq is negotiating a potential revision of its OPEC production limit while maintaining exports at around 3.6 million barrels per day despite significantly higher capacity.
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.

Baker Hughes reports $8.2bn in orders in Q3 despite net income decline

Baker Hughes recorded a 23% increase in orders in Q3 2025, driven by its gas segment, while net income fell 20% year-on-year to $609mn.
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Shanghai Electric signs 342 MW deal with Econergy in Romania
Shanghai Electric has signed phase II of the Parau photovoltaic project with Econergy, expanding its Romanian solar portfolio to 550 MW.
Hungary seeks to maintain Russian oil imports despite sanctions
Viktor Orban says he is working to bypass recent US sanctions targeting Rosneft and Lukoil, underscoring Hungary’s continued reliance on Russian hydrocarbons.

Kuwait signs $489mn deal with Kuzu for wastewater treatment plant

Kuwait’s Ministry of Public Works has signed an agreement with Turkish company Kuzu to build a wastewater treatment plant for the upcoming Al Mutlaa city in the north of the country.
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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.
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.

GE Vernova to supply 42 turbines for a 252 MW wind farm in Romania

GE Vernova will equip the Ialomiţa wind farm with 42 turbines of 6.1 MW, strengthening its presence in the European onshore wind sector with a 252 MW project in partnership with Greenvolt.
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UK sanctions Rosneft, Lukoil and 51 vessels linked to Russian oil exports
The United Kingdom targets two Russian oil majors, Asian ports and dozens of vessels in a new wave of sanctions aimed at disrupting Moscow's hydrocarbon exports.
Valeura revives deep gas in Turkey through strategic partnership
Valeura Energy partners with Transatlantic Petroleum to restart gas exploration in the Thrace basin, with testing and drilling planned this quarter in deep formations.
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GASCADE commissions 400 kilometres of hydrogen network in Germany
Enel acquires two onshore wind farms in Germany for €80mn in strategic move
Small modular reactor market to reach 912.5 MW by 2030
Oil stabilises below $63 as markets watch Ukraine talks
IOC seeks spot LNG cargo for Dahej as Russian sanctions tighten
Slovakia: Fico slowed by technical hurdles in gas swap deal with Azerbaijan
Slovak Prime Minister Robert Fico acknowledged on 20 March significant technical difficulties obstructing a proposed gas swap deal with Azerbaijan, while reaffirming the urgency of restoring Russian gas transit through Ukraine.
Cameroon plans two new gas power plants totaling 500 MW
Cameroon has announced the upcoming construction of two gas-fired power plants totaling 500 MW in Bekoko and Douala under public-private partnerships, contingent upon gas supply assurances from the National Hydrocarbons Corporation.

Venezuela: Maduro opens the oil sector to foreign capital after Chevron’s withdrawal

Venezuelan President Nicolás Maduro has announced the opening of the oil sector to foreign investment after the United States revoked Chevron’s operating license, requiring the company to liquidate its operations by April 3.
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Iran Launches $17 Billion Project to Boost South Pars Gas Field Extraction
Iran invests $17 billion to counteract declining reservoir pressure at South Pars, a gas field shared with Qatar, securing estimated reserves equivalent to around 363 billion barrels of oil.
OPEC+ Gradually Increases Iraqi Oil Production Starting April 2025
OPEC+ has authorized a gradual increase in Iraq's oil quota starting in April 2025, enabling the country to reach 4.11 million barrels per day by January 2026, amid strategic developments marked by the imminent reopening of the Iraq-Turkey pipeline.

Washington ends Iraq’s exemption for purchasing Iranian electricity

The United States has decided not to renew Iraq’s exemption, granted since 2018, allowing Baghdad to import electricity from Iran despite U.S. sanctions. This measure increases pressure on Iraq, whose energy supply largely depends on its neighbour.
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Romania invests in nuclear expansion with two new reactors at Cernavodă
Romania plans to double its nuclear capacity by building two new CANDU reactors at Cernavodă. These units, expected to be operational in 2030 and 2031, should increase nuclear energy's share to 30% of the country's total electricity production.
Russia accuses Ukraine again of attacking the TurkStream pipeline
Russia has once again accused Ukraine of attacking the TurkStream pipeline with drones, marking the second attack in two months aimed at disrupting Russian gas deliveries to Europe.

Uniper reduces business risks and plans €2.6 billion payment

Uniper recorded adjusted EBITDA of €2.61 billion in 2024, significantly down from the previous year. The company has reduced its business risks, notably by terminating its gas supply contracts with Gazprom Export, and plans to make a €2.6 billion payment to the German state.
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Uniper launches two photovoltaic projects in Hungary for 151 MWp
Uniper has launched the construction of two photovoltaic parks in Hungary, in Tét and Dunaföldvár, which will add 151 MWp of capacity to the country’s renewable energy production.
Kazakhstan and Hungary Agree on Oil Exports via Druzhba Pipeline
An agreement was signed in February 2025 between Kazakhstan and Hungary to enhance oil exports from Kazakhstan via the Druzhba pipeline. This development could change the energy dynamics in Central Europe.

Iraq Prepares to Resume Kurdish Oil Exports via Turkey

Baghdad announces an agreement with Erbil to restart the export of 300,000 barrels per day via the Turkish port of Ceyhan. A government delegation will travel to Iraqi Kurdistan to finalize the export mechanism after two years of suspension.
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Turkey Secures a New Gas Agreement with Turkmenistan
Ankara strengthens its energy supply with an agreement signed on February 11, 2025, with Turkmengaz. The first deliveries of Turkmen natural gas are scheduled for March, marking a strategic step in diversifying gas sources for Turkey and Europe.
Transnistria Bypasses European Offer with Russian-Hungarian Gas Alternative
Facing the end of Gazprom deliveries, Transnistria is now sourcing gas through a Hungarian company, financed by a Russian intermediary. The European Union had proposed aid, conditioned on reforms, which the separatist region rejected.

Moldova: Gas Transit to Transnistria Allowed Under Conditions

The Moldovan government has authorized the transit of gas to Transnistria via Hungary, but under strict conditions. Tiraspol must release political prisoners and lift restrictions. Meanwhile, the region has rejected a €60 million European aid package.
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Slovakia Restores Russian Gas Supply via TurkStream
Following the halt of gas deliveries through Ukraine, Slovakia now relies on the TurkStream pipeline and a route through Hungary to secure its supply. This decision aligns with its independent energy strategy despite geopolitical tensions in Europe.
Moldova Routes Gas to Transnistria Thanks to the EU
Moldova begins routing gas to Transnistria with the help of €30 million from the EU, ensuring supply until February 10 despite the energy crisis.

NuScale and Alleima Strengthen Collaboration on Small Modular Reactors

Swedish manufacturer Alleima signs a second major order with Doosan Enerbility for the supply of steam generator tubes for NuScale Power's Small Modular Reactors (SMRs).
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The Strategic Growth of Geothermal Energy in Romania: Bihor as a Case Study for Europe
Bihor County in Romania accelerates geothermal energy integration into its energy economy. With over €45 million invested, mostly funded by the European Union, the region highlights the growing profitability of this resource.
ExxonMobil and Qatar Energy Relaunch Gas Exploration in Cyprus
ExxonMobil and Qatar Energy begin a strategic drilling operation off the coast of Cyprus, targeting new natural gas deposits. This initiative reflects the European Union's quest to diversify its energy supply sources.
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