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Ukraine

Aramco’s net profit drops for the eleventh consecutive quarter

Aramco reported a 2.3% decrease in its net profit for the third quarter, amid global economic uncertainties and an oversupply of oil, although its adjusted earnings showed a slight increase.

EU bans Russian LNG, Arctic bottlenecks and clauses under strain

The gradual ban on Russian cargoes reshapes European flows, increases winter detours via the Northern Sea Route and shifts risk toward force majeure and “change of law,” despite rising global capacity. —

Poland: Orlen Consolidates Gas, Targets Regional Hub Without Liberalization

Poland’s gas market remains highly concentrated around Orlen, which controls imports, production, and distribution, while Warsaw targets internal and regional expansion backed by new infrastructure capacity and demand from heat and power.
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Bulgaria halts fuel exports to EU after sanctions on Lukoil

Sofia temporarily restricts diesel and jet fuel exports to safeguard domestic supply following US sanctions targeting Lukoil, the country’s leading oil operator.

Lukoil sells its African oil assets to Gunvor under pressure from US sanctions

Swiss trader Gunvor will acquire Lukoil’s African stakes as the Russian company retreats in response to new US sanctions targeting its overseas operations.

Elogen to deliver electrolyser to RoyalStav and Veolia for project in Slovakia

Elogen will supply a 1 MW PEM electrolyser for a cogeneration plant operated by Veolia Energia Slovensko, in partnership with RoyalStav, near Žiar nad Hronom.
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Washington temporarily authorises operations linked to Rosneft’s German assets

The United States has issued a general license allowing transactions with two German subsidiaries of Rosneft, giving Berlin until April 2026 to resolve their ownership status.

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.
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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.

Kazakhstan considers swift decision on Lukoil’s local assets

Kazakhstan is reviewing Lukoil's stakes in major oil projects after the Russian group announced plans to divest its international assets following new US sanctions.

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.
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Italian court approves extradition of Ukrainian suspect in Nord Stream case

An Italian appeal court has approved the extradition to Germany of a former Ukrainian commander suspected of coordinating the 2022 sabotage of the Nord Stream gas pipeline, a decision now challenged in cassation.

First El Dabaa nuclear reactor receives 330-tonne pressure vessel

The reactor vessel for Unit 1 at Egypt’s El Dabaa nuclear plant has been delivered following a 20-day maritime transport from Saint Petersburg, marking a critical milestone in the country’s energy project.

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.
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The EU sanctions CNPC units as ESPO pipeline flows remain stable

The European Union targets a trading subsidiary and a refinery linked to China National Petroleum Corporation, tightening access to financial and insurance services without disrupting pipeline deliveries, with reallocations expected in settlements, insurance, and logistics. —

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.

Newcleo awards $81mn contract to NEXT-N for advanced modular reactors

French developer Newcleo launches a joint venture with Nextchem through a EUR70 mn contract to design the conventional island of its upcoming 200 MW modular nuclear reactors.
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Italian court reviews extradition of Ukrainian suspect in Nord Stream sabotage

A former Ukrainian soldier accused of taking part in the 2022 sabotage of the Nord Stream pipeline is at the centre of a contested extradition process between Italy and Germany, revived by a ruling from Italy’s Court of Cassation.

India redirects its diesel to Africa and Brazil ahead of 2026

Traceability requirements from the EU (European Union) on fuel origin are reshaping Indian refined flows, with a shift toward Africa and Brazil supported by local premiums and a decline in Russian exports.
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The European Union moves closer to 2030 energy targets, says Brussels

The European Commission states the Union is on track to cut emissions by 54% by 2030, following updated national plans.

Russia Challenges Adjustment to Price Cap on Its Oil Exports

As Western nations debate an adjustment to the price ceiling on Russian oil, Moscow firmly rejects these measures as market-distorting, citing a lack of significant impact on its current exports.

Indonesia Bets on 10 GW Nuclear to Transform its Energy Mix

Facing growing energy demands, Indonesia has announced an ambitious nuclear program targeting 10 GW capacity by 2040, attracting interest from global industry giants to support this strategic shift towards a low-carbon economy.
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Hungary to veto Brussels’ proposed ban on Russian gas

Prime Minister Viktor Orban announced that Hungary would oppose the EU's plan to ban Russian energy deliveries by 2027, both legally and politically.

Serbia extends gas contract with Russia until 30 September

Belgrade has confirmed the temporary extension of its gas supply contract with Moscow, ensuring the daily delivery of 6 million cubic metres until autumn at an unchanged price.

A German conservative leader calls for reopening the Nord Stream 2 file

Michael Kretschmer, Minister-President of Saxony, proposed restarting dialogue with Russia on the Nord Stream 2 pipeline, despite clear opposition from the German government to any reactivation of the project.
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Trump Signs Four Major Executive Orders to Quadruple U.S. Nuclear Production

Donald Trump announces four executive orders to quadruple U.S. nuclear energy production within 25 years, radically accelerate regulatory approvals, secure enriched uranium supplies, and address the surging energy demands linked to artificial intelligence.

Europe commits €800bn to defence, destabilising strategic metals supply balance

The European rearmament plan intensifies pressure on critical metals supply chains, dominated by China, and in direct competition with other key industrial sectors.

Rosneft takes control of strategic rare earth deposit Tomtor in Siberia

State-owned oil group Rosneft has taken over the exploitation licence for the Tomtor rare metals deposit, marking the entry of hydrocarbons into a mining sector largely abandoned by private investors.
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Turkey faces Russian control over its nuclear future at Akkuyu

Facing Russian dominance in the Akkuyu nuclear project, Turkey accelerates international negotiations, aiming to mitigate risks related to energy dependency and potential strategic conflicts of interest.

European Union sanctions 189 new Russian tankers used clandestinely

The European Union has expanded its measures against Russia by targeting nearly 200 new vessels illegally transporting oil, as part of its 17th sanctions package.

European Union pushes G7 to lower Russian oil price cap to $50

Brussels aims to persuade the G7 to reduce the Russian oil price cap to $50 per barrel, as part of negotiations on the next sanctions package targeting Moscow’s energy revenues.
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Russia Challenges European Carbon Taxes at the WTO

Russia has filed a complaint with the World Trade Organization (WTO) challenging the European Union's Carbon Border Adjustment Mechanism (CBAM), deeming it discriminatory and protectionist towards its strategic commodity exports.

Macron in Vietnam: France faces Russian-American nuclear agreements

Emmanuel Macron is visiting Vietnam as the country expands its nuclear partnerships, signing today an agreement with the American company Westinghouse, following recent cooperation with Russia, intensifying competition in this strategic market.

BRICS Warn of Energy Risks Linked to Economic Sanctions

The BRICS denounce economic sanctions and trade restrictions imposed by Western countries, warning of their consequences on global energy markets, especially regarding supply chains and financial stability in the energy sector.
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European Union cuts Russian gas imports by 98 bcm since 2021

The European Commission releases data on the REPowerEU plan, confirming a sharp drop in Russian fossil fuel purchases and announcing new legislative measures by June.

OPEC+ Opens the Taps, IEA Forecasts Rebound in Global Oil Stocks

The International Energy Agency forecasts a significant rise in global oil stocks due to slowing demand in developed economies and OPEC+'s gradual production increases starting in 2025.

The European Union strengthens maritime sanctions on Russian oil exports

The European Union has approved a new package of sanctions targeting 345 vessels suspected of helping Russia circumvent restrictions on crude oil and refined product exports.
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The EU Maintains Its Goal to Ban Russian Gas Imports, Even After a Potential Peace Deal

Dan Jørgensen, European Commissioner for Energy, confirms that the EU will continue its ban on Russian gas imports, regardless of the outcome of peace negotiations in Ukraine, with legislative proposals expected in June.

Hanoi and Moscow accelerate nuclear power plant talks in Vietnam

Russia and Vietnam have signed a nuclear roadmap aimed at strengthening technological cooperation, including a commercial nuclear plant and a scientific centre by 2030.
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