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Rosatom confirms HTGR fuel resilience under extreme temperature conditions
Rosatom successfully completed a series of tests on its high-temperature gas-cooled reactor fuel, validating its performance at up to 1,700 °C under prolonged irradiation conditions.
Brussels investigates €30bn public loan for two reactors in Czechia
The European Commission opens an in-depth investigation into Prague's public funding of a major nuclear project, which could reach €30bn ($32.88bn), with guaranteed revenues over forty years.

Solarpro inaugurates 450 MW solar power plant with LONGi modules in Hungary

Solarpro commissions Hungary’s largest photovoltaic plant using 700,000 advanced modules supplied by LONGi, with an expected annual output of 470 GWh.
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Newcleo launches European safeguards process for lead-cooled modular reactor
French nuclear reactor developer Newcleo has submitted its lead-cooled small modular reactor design to Euratom, initiating the first regulatory phase to integrate nuclear non-proliferation safeguards at the European level.
Czech government rejects ETS2 and warns of disadvantage against China and the United States
The new Czech Minister of Industry wants to block the upcoming European emissions trading system, arguing that it harms competitiveness and threatens national industry against global powers.

Czech government prepares CEZ buyout in $9.6bn deal

Several scenarios are under review to regain control of CEZ, a key electricity provider in Czechia, through a transaction estimated at over CZK200bn ($9.6bn), according to the Minister of Industry.
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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.
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.

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.
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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.
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.
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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.
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.
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Gotion Launches First Electric Vehicle Battery Factory in Slovakia for Europe
Gotion inaugurates its Gigafactory in Slovakia, marking a significant advancement in electric vehicle battery production in Europe. This site, scheduled for 2027, strengthens the continent’s green industrial chain.
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.

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.
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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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Drone strike cuts electricity in Khartoum and Port Sudan, two rescuers killed
Microsoft signs two new wind power purchase agreements with Iberdrola
TerraWind strengthens its onshore wind portfolio in Japan with 255MW transferred
T1 Energy launches construction of 2.1GW solar cell plant in Texas
Voltalia launches construction of hybrid solar-storage power plant in French Guiana
Qatar Signs Agreement to Deliver 3 Million Tons of Liquefied Natural Gas to China
Qatar will supply China with 3 million tons of liquefied natural gas annually starting in 2025, under a long-term agreement with Shell, reinforcing its position in the Asian and global LNG market.
Gazprom Reduces Its Investment Budget for 2025 by 7%: China in Focus
Gazprom sets its 2025 investment budget at 1.52 trillion rubles, marking a notable reduction. The focus remains on China with the expansion of the "Power of Siberia" pipeline to meet growing demand.

HSFO Margins Narrow in Singapore Despite Stable Supply

HSFO premiums in Singapore fall in December as geopolitical tensions and limited demand from Chinese refineries signal persistent volatility in marine fuel markets.
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France: Elengy adapts its operations to European sanctions on Russian LNG
Elengy, a leading French LNG terminal operator, has implemented measures to comply with European sanctions banning the transshipment of Russian LNG starting March 2025.
The United States Outpaces Russia in Diesel Deliveries to Brazil This Week
For the week ending December 8, the United States is expected to become Brazil’s leading diesel supplier, delivering 6% more than Russia, according to preliminary data from S&P Global.

OPEC+ faces strategic choices to stabilize the oil market in 2024

Amid weakened global demand, the rise of U.S. shale oil, and internal divisions, OPEC+ seeks to preserve its influence on prices while adapting its production strategy.
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Rajasthan: An Integrated Refinery to Boost Petrochemical Demand in India
The new HPCL Rajasthan Refinery Ltd. integrated refinery is set to transform India's petrochemical sector. With an annual capacity of 9 million tons, it aims to reduce petrochemical imports and increase refining margins.
Goldman Sachs forecasts a Brent price drop to $76 in 2025
The American bank anticipates a decline in Brent crude oil prices to $76 per barrel in 2025, driven by an oversupply in the global oil market, despite ongoing geopolitical tensions.

OPEC+ faces strategic challenges ahead of a decisive meeting on oil production

OPEC+ members meet amidst tensions over production targets, global economic uncertainties, and weak demand, particularly in China.
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Swedish Defense Blocks Offshore Wind Farms in the Baltic Sea
Offshore wind farm projects in the Baltic Sea are deemed incompatible with Sweden's national defense due to the disruptions they would cause to critical military sensors.
Putin visits Kazakhstan: energy cooperation and geopolitical stakes
Russian President Vladimir Putin is welcomed in Kazakhstan to discuss major energy projects amidst international rivalries with China and the West.

Bolivia signs a historic agreement with a Chinese company to exploit lithium

A major contract has been signed between Bolivia and Hong Kong CBC Investment for the construction of two lithium carbonate plants, strengthening the country's strategic position in the renewable energy sector.
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Turkey negotiates a U.S. waiver to pay for Russian gas through Gazprombank
Turkey seeks a waiver from U.S. sanctions to continue paying for its gas imports via Gazprombank, which is critical to its energy security, according to Turkish Energy Minister Alparslan Bayraktar.
Baghdad: Saudi Arabia, Iraq, and Russia Discuss Oil Quotas Ahead of OPEC+ Meeting
Saudi, Russian, and Iraqi ministers met in Baghdad to discuss production quotas and oil market stability ahead of the crucial OPEC+ meeting scheduled for December 1.

Appointment of European Commissioners: A Contrasted Vision on Nuclear Energy

The European Commission welcomes a new team of commissioners tasked with shaping energy policy. However, the absence of strong nuclear advocates in key positions raises questions about the future of this energy source in the Union.
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India and Guyana: A Growing Energy Partnership
Indian Prime Minister Narendra Modi’s historic visit to Guyana paves the way for long-term crude oil import agreements, strengthening India’s energy ambitions amidst fierce European competition.
UAE Oil Exports Exceed Quotas: Rising Tensions Within OPEC+
Despite commitments to OPEC+ to limit production, the United Arab Emirates shows oil export volumes well above quotas. This situation raises questions and rekindles tensions within the cartel.

Kogas and Japanese Buyers: No Use of Gazprombank for Sakhalin 2 LNG Imports

Kogas and several Japanese LNG buyers confirmed they do not use the Russian bank Gazprombank, sanctioned by the United States, for transactions related to the Sakhalin 2 project, ensuring no impact on their imports.
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Natural gas prices hit record highs in Europe and the United States: diverging causes
Natural gas prices are soaring, reaching a record high in the United States and Europe for the past year, driven by weather forecasts for one and geopolitical tensions for the other.
Iran: Intensifying Nuclear Capabilities Amid International Pressure
In response to IAEA criticism, Iran has activated new advanced centrifuges, escalating its nuclear program and heightening tensions with Western powers.
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