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Ukraine

Holtec and MVM join forces to deploy small nuclear reactors in Hungary

US-based Holtec has signed a memorandum of understanding with Hungary’s energy group MVM to assess the deployment of its SMR-300 technology, strengthening bilateral nuclear cooperation and opening prospects for a new market in Central Europe.

Sofia activates emergency plan as US sanctions on Lukoil approach

With only 35 days of gasoline left, Bulgaria is accelerating measures to secure supply before US sanctions on Lukoil take effect on November 21.

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.
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Russia begins withdrawal from NIS to circumvent US sanctions

Russia is negotiating the sale of its stake in Serbian oil company NIS as US sanctions threaten the operations of the company, which plays a key role in Serbia’s economy.

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.

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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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.

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.

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Swiss trader Gunvor has withdrawn its $22bn offer to acquire Lukoil’s international assets after the US Treasury announced it would block any related operating licence.
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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.

Gunvor rules out resale of Lukoil assets to Russia after acquisition

Commodities trader Gunvor confirmed that the assets acquired from Lukoil will not return under Russian control, despite potential sanction relief, amid growing regulatory pressure.

Western sanctions disrupt Lukoil’s international operations

Sanctions imposed by the U.S. and the U.K. are paralyzing Lukoil's operations in Iraq, Finland, and Switzerland, putting its foreign businesses and local partners at risk.
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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.

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.
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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. —

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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Germany Suspends 20% of Kazakh Oil Imports After Pipeline Disruption in Poland

The disruption on the Druzhba pipeline, connecting Poland to Germany, halts 20% of Germany’s Kazakh oil supply, with a resumption expected by year-end.

Europe bans Russian LNG transshipments for 2025

The European Union strengthens its energy sanctions against Russia by banning natural gas liquefied (LNG) transshipments in its ports from March, as part of its efforts to eliminate Russian fossil fuels by 2027.

OPEC+ Faces Uncertainty: Geopolitics and Oil Market Challenges in 2025

Amid geopolitical volatility and oversupply, OPEC+ must navigate critical decisions to stabilize oil prices while preserving market share against hesitant demand.
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Russia warns of 200,000 tons of soil threatened after an oil spill

The sinking of two oil tankers in the Kerch Strait has caused an oil spill, threatening 200,000 tons of soil and severely impacting local coasts and ecosystems.

Drone Attack in Russia Hits Oryol Depot with 20 Devices

The fuel depot in Stalnoy Kon, Oryol region, Russia, was targeted by a drone attack involving 20 devices, intensifying tensions around strategic energy infrastructure.

Belarus resumes 1.5 million barrels of crude oil via Druzhba pipeline

Crude oil deliveries to Belarus via the Druzhba pipeline have resumed, impacting several European countries after a disruption caused by a technical incident.
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The European Union Threatened by U.S. Tariffs on 58 Million Tons of LNG

Donald Trump, the president-elect of the United States, demands increased European imports of oil and liquefied natural gas, threatening the European Union with tariffs, a move that could disrupt global energy trade.

Argentina’s Javier Milei Announces Nuclear Reactor to Meet 9% Energy Demand Growth

Argentine President Javier Milei has unveiled plans to build a modular nuclear reactor to address a 9% increase in energy demand in 2024, largely driven by the rise of artificial intelligence.

The Global Nuclear Market Will Reach USD 44.71 Billion by 2029 Through Strategic Investments

Driven by favorable public policies and growing energy demand, the global nuclear energy market is projected to reach USD 44.71 billion by 2029, with an annual growth rate of 2.9%. Major powers are intensifying investments in the sector.
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The United States Grants Two Subsidies for Nuclear Projects in Bulgaria

Two American grants will finance studies on radioactive waste management and modular nuclear reactors in Bulgaria, strengthening bilateral cooperation and supporting the country's energy objectives.

US Sanctions Prompt 33% Increase in Turkey’s LNG Imports

Sanctions against Gazprombank drive Turkey to boost LNG imports. December sees a 33% rise, highlighting a strategic move to secure energy supply for winter.

Romania supports Moldova in facing the winter energy crisis

Amid uncertainty over Russian gas deliveries to Transnistria, Romania commits to ensuring Moldova's energy security this winter, with emergency measures for electricity and gas supplies.
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The EU Targets Rosneft and 52 Russian Ships to Counter Sanctions Evasion

The European Union strengthens its sanctions against Russia by blacklisting additional ships and entities linked to Rosneft to combat evasion of the G7 price caps on Russian oil exports.

Les « shadow tankers » : un réseau clandestin qui alimente les revenus pétroliers russes et iraniens

Les « shadow tankers » : un réseau clandestin qui alimente les revenus pétroliers russes et iraniens

Moldova declares a state of emergency to secure its energy supply

Faced with the threat of Russian gas cuts, Moldova is enacting a 60-day state of emergency to safeguard its energy security and prevent a humanitarian crisis during one of the most critical winters for its energy independence.
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Bosnia Embarks on Energy Diversification with New Gas Interconnection

Under international pressure, Bosnia passes a key law to diversify its natural gas supply, reducing total dependence on Russian gas through a connection to Croatia’s LNG terminal.

The United States Prepares to Sanction the Serbian Oil Industry Controlled by Russia

Serbian President Aleksandar Vucic warns of imminent US sanctions against NIS, majority-owned by Gazprom Neft and Gazprom. A decision that could escalate geopolitical tensions in Europe.

OMV ends its historic gas contract with Gazprom

The Austrian group OMV has terminated its long-term contract with Gazprom, ending nearly six decades of energy dependency on Russia after a series of contractual violations.
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EU Adopts 15th Sanctions Package: Russian Tankers Under Pressure

The European Union strengthens sanctions against Russia by targeting new tankers involved in the transport of Russian oil and expanding its blacklist of entities supporting Moscow's military effort.

PPC Group invests in two photovoltaic plants in Italy to strengthen its presence in Southeast Europe

PPC Group enters the Italian renewable energy market with two solar plants totaling 32 MW, continuing its expansion in interconnected Southeast European countries.
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