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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.

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Swiss trader Gunvor has withdrawn its $22bn offer to acquire Lukoil’s international assets after the US Treasury announced it would block any related operating licence.

INNIO and KMW build 54 MW gas-fired power plant to secure data centres

INNIO and KMW partner to construct a 54 MW modular gas power plant in Mainz, designed to stabilise the grid and ensure supply to the future Green Rocks data centre.
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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.

OMV posts €1.26bn operating profit in Q3 despite falling revenues

Austrian energy group OMV reported a 20% increase in operating profit in Q3 2025, driven by strong performance in fuels and petrochemicals, despite a decline in total revenue.
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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.
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Masdar launches Uzbekistan’s largest battery energy storage project
China channels public investment into hydrogen to consolidate industrial dominance
IonQ partners with University of Chicago to build next-generation quantum platform
Statkraft launches 340 MWp of solar and hybrid projects in Brazil
Ørsted deepens losses in the third quarter despite major fundraising
CCE inaugurates its largest solar power plant in Europe: 40 MWp installed capacity in Romania
CCE Holding inaugurated the Horia 1 photovoltaic power plant, with a capacity of 40 MWp. Located in the Arad region, it is now the company’s largest solar installation in Europe, supplying 17,000 households with renewable energy.
Mukran LNG Terminal: An Immediate Response to the Suspension of Russian Deliveries to Austria
Following the suspension of Russian gas deliveries to OMV, the Mukran LNG terminal offers exceptional backup capacity to cover Austria’s annual energy demand.

New Russian Offensive: Ukrainian Energy Grid Severely Hit

A massive attack with drones and missiles targeted Ukraine's energy infrastructure, causing two deaths and major power outages. Kyiv denounces the intensification of strikes as winter approaches.
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Russia Halts Gas Supplies to Austria Following Dispute with OMV
Following a contractual dispute with Gazprom, Austria, which relied on 90% of Russian gas this summer, faces a supply halt. Despite the crisis, the country claims to have secured its energy supply.
Orano temporarily suspends uranium extraction activities in Niger
Orano temporarily suspends uranium extraction activities in Niger

Al Gore denounces the role of petro-states in organizing COPs

During COP29 in Baku, Al Gore criticized the organization of climate conferences in petro-states and called for a reform of the selection process for host countries and participants, accusing these nations of conflicts of interest.
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North Macedonia: A Strategic Partnership with SOCAR for Energy Security
North Macedonia strengthens its energy security with an agreement with SOCAR, aiming at the diversification of natural gas supplies and innovative projects like gas cogeneration.
Russia and Cuba: Strengthening Energy Cooperation Amid Hurricanes and Crises
Cuba, hit by two hurricanes and an acute energy crisis, receives enhanced support from Russia, including financial aid, equipment, and an educational partnership to develop its energy sector.

Vietnam Revives Its Nuclear Program to Meet Growing Energy Demand

Vietnam plans to reactivate its nuclear program, halted in 2016, to support rapid industrialization and meet increasing energy demands while aiming for carbon neutrality by 2050.
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G7 Tankers Return to Russia: Opportunities Amid Price Cap
G7-linked tankers are returning to Russian routes, reaching a seven-month high as they seize opportunities presented by the weakness of Russian crude prices under the $60/barrel cap.
Niger invites Russian companies to exploit its natural resources
Niger opens its doors to Russian companies for the exploration of its natural wealth, marking a strategic shift as tensions persist with French companies, particularly over uranium.

Libya and Kazakhstan: Contrasting Production Efforts within the OPEC+ Alliance

OPEC+ recorded an increase of 30,000 barrels per day in October, marked by Libya’s production surge and Kazakhstan’s reduction. Compliance remains a key challenge for the group.
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Russian Gas Flows to Europe via Ukraine Maintained Despite Tensions in Kursk Region
Despite escalating tensions and the preparation of a Russian counteroffensive in the Kursk region, Russian gas flows to Europe via Ukraine continue as usual, according to data from GTSOU.
Analysis of Fukushima radioactive debris: a key step in decommissioning
A sample of radioactive debris from the Fukushima power plant has been secretly transported to a laboratory near Tokyo. This crucial step is part of the lengthy decommissioning process, which is expected to take several more decades.

Military and Oil Agreements: Venezuela and Russia Strengthen Their Strategic Alliance

Venezuela and Russia signed several military and oil agreements aimed at strengthening their cooperation, solidifying a strategic alliance extending until 2030 and beyond.
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The EU Proposes Increasing American Gas Imports to Reduce Dependence on Russian Gas
In response to trade tensions with the United States, Ursula von der Leyen proposed increasing imports of American liquefied natural gas (LNG) to replace Russian gas in Europe.
Rwanda relies on Russia to train its nuclear energy specialists
Rwanda relies on Russia to train its nuclear energy specialists

Russian and Kazakh Refineries Conclude Maintenance: An Impact on the Energy Market

As Russian and Kazakh refineries resume operations following maintenance periods, the energy market anticipates potential effects on fuel supply. Uncertainty remains around gasoline exports in Russia.
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The Uncertain Future of Russian Gas Transit via Ukraine to Europe
The transit of Russian gas through Ukraine may end in late 2024 if no agreement is reached between European buyers and Kyiv. This decision could increase pressure on the European energy market.
Japan increases coal imports to meet energy demand
Facing growing energy demand due to a record-breaking summer, Japan reports a surge in coal imports, exploring new suppliers to secure its electricity needs.
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