Ukraine

China’s crude oil imports rise 3.9% in September

China imported an average of 11.5 million barrels of crude oil per day in September, supported by higher refining rates among both state-run and independent operators.

OPEC maintains demand forecast and lowers expected 2026 deficit

OPEC confirms its global oil demand growth forecasts and anticipates a much smaller deficit for 2026, due to increased production from OPEC+ members.

Russia taps into Tajikistan’s rivers and cotton for joint ventures

Moscow strengthens industrial joint ventures with Tajikistan by leveraging hydropower, agriculture, and mining in a strategy based on mutual interest and economic complementarity.
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Croatia targets Russian stake in NIS to maintain oil flows

JANAF is interested in acquiring a 20 to 25% stake in NIS, as the Russian-owned share is now subject to US sanctions.

Australia loses Asian markets for seaborne thermal coal

Falling Chinese imports and Asia’s regional pivot increase pressure on Australian thermal coal exporters.

Rosatom begins excavation for small modular reactor project in Uzbekistan

The construction of Uzbekistan’s first small modular reactor (SMR) is underway, with 1.5mn m³ of earth being excavated in Jizzakh, marking a major milestone for the nuclear project led by Rosatom.
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US sanctions hit NIS, a key player in Serbia’s oil market

Serbian oil company NIS, partially owned by Gazprom, faces newly enforced US sanctions after a nine-month reprieve, testing the country's fuel supply chain.

Russia increases oil production and nears OPEC+ quota

Russian oil output moved closer to its OPEC+ allocation in September, with a steady rise confirmed by Deputy Prime Minister Alexander Novak.

Russia formally exits bilateral nuclear agreement with the United States

The State Duma has approved Russia’s formal withdrawal from a treaty signed with the United States on the elimination of military-grade plutonium, ending over two decades of strategic nuclear cooperation.
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Oil rises 1.3% after limited OPEC+ output increase

Crude prices rose following the decision by the Organization of the Petroleum Exporting Countries and its allies to increase production only marginally in November, despite ongoing signs of oversupply.

Ukraine plans to increase gas imports by 30% after Russian strikes

The Ukrainian government is preparing to raise natural gas imports by 30% to offset damage to its energy infrastructure and ensure supply continuity during the winter season.

Belarus quadruples fuel exports to Russia in September

Rail shipments of Belarusian gasoline to Russia surged in September as Moscow sought to offset fuel shortages caused by Ukrainian attacks on its energy infrastructure.
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Tusk refuses to hand over Ukrainian suspect to Germany over Nord Stream sabotage

Polish Prime Minister Donald Tusk said it was not in Poland’s interest to extradite to Germany a Ukrainian citizen suspected of taking part in the explosions that damaged the Nord Stream gas pipelines in 2022.

Denmark strengthens maritime controls at Skagen Strait amid Russian shadow fleet activity

Denmark is intensifying inspections of ships passing through Skagen, a strategic point linking the North Sea and the Baltic Sea, to counter the risks posed by the Russian shadow fleet transporting sanctioned oil.

China opts for quarterly thermal coal contracts with Indonesia for 2026

Chinese buyers begin negotiations for 2026 thermal coal deliveries, favouring shorter contracts to maintain flexibility in a stable price environment.
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Ukrainian strike cuts power to 5,400 homes in Belgorod region

A night-time attack on Belgorod’s power grid left thousands without electricity, according to Russian local authorities, despite partial service restoration the following morning.

Ukrainian suspected in Nord Stream sabotage faces possible extradition

Polish authorities have 40 days to decide on the extradition of a Ukrainian accused of participating in the 2022 sabotage of the Nord Stream pipelines in the Baltic Sea.

Opec+ raises production by 137,000 barrels per day in November

Opec+ slightly adjusts its quotas for November, continuing its market share recovery strategy amid stagnant global demand and a pressured market.
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OPEC+ prepares new production hike amid rift between Riyadh and Moscow

Eight OPEC+ countries are set to increase oil output from November, as Saudi Arabia and Russia debate the scale of the hike amid rising competition for market share.

Hungary secures 10-year LNG contract with Engie through 2038

Hungary has signed a ten-year agreement with Engie for the annual import of 400 mn m³ of liquefied natural gas starting in 2028, reinforcing its energy diversification strategy despite its ongoing reliance on Russian gas.

South Africa: nuclear project postponed for public consultation

South Africa postpones the tender for a new 2,500 MW nuclear power plant, responding to demands for transparency and legal challenges from civil society and the new government coalition.

Bulgargaz and Botas renegotiate LNG contract

Bulgargaz is in talks with Botas to revise their gas agreement, essential to Bulgaria's energy diversification, in response to criticism of its efficiency.

Croatia becomes a Strategic LNG Hub in Southeast Europe

Faced with growing demand in the Eastern Mediterranean, Croatia is establishing itself as an essential hub for liquefied natural gas (LNG) in Europe, surpassing capacity in North-Western Europe.
Essor LNG Croatia

Moldova calls for tenders amid geopolitical tensions

Moldova is launching a call for tenders for wind and solar power installations, with the aim of strengthening its energy independence from Russia while increasing the share of renewable energies in its energy mix.

Putin in Azerbaijan: Strengthening Strategic Energy Cooperation

Vladimir Putin visits Azerbaijan to consolidate energy partnerships, in a tense geopolitical context marked by the reorientation of European energy flows.

Asia, a key market for Russian fuel oil, led by China and Saudi Arabia

Russia increases fuel oil and VGO exports to Asia. China and Saudi Arabia stand out as the main importers, according to LSEG data.
Russian tanker bound for Asia

Warsaw denies involvement in sabotage of Nord Stream pipeline

The Polish government firmly denies accusations of complicity in the sabotage of the Nord Stream gas pipelines in 2022, claiming that this is a disinformation maneuver aimed at dividing NATO.

Armenia: Launch of a Public Company for Nuclear Development

The Armenian government creates a public entity to oversee the construction of a new nuclear reactor, key to the country's energy future.

Rwanda signs its first SMRs with Nano Nuclear Energy

Rwanda strengthens its energy strategy with an agreement to develop modular nuclear reactors (SMR), positioning the country at the forefront of nuclear innovation in Africa.
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Russian oil exports bypass Suez to set Asian record

In July 2024, Russian seaborne exports of petroleum products to Asia doubled to 1.1 million tonnes, with increased use of the Cape of Good Hope route to avoid the Suez Canal.

Ukraine denies responsibility for sabotaging Nord Stream pipelines

The Ukrainian government categorically rejects the Wall Street Journal's accusations of possible involvement in sabotaging the Nord Stream gas pipelines in 2022, calling them "absolute nonsense".

Russian thermal coal exports on the rise

Russian exports of thermal coal have risen sharply, boosted by strong demand in the Asia-Pacific and Mediterranean regions, as well as a temporary reduction in export tariffs.

Ukraine approves USD 20 billion plan for renewables by 2030

Ukraine is committing $20 billion to increase the share of renewable energies to 27% of the energy mix by 2030, in response to the damage inflicted by Russian attacks.

Rising LNG prices in Europe limit arbitrage towards Asia

Liquefied natural gas (LNG) prices in Europe are rising, complicating arbitrage towards Asia, despite weak European demand and high inventories.

Ukraine: Deputy Energy Minister arrested on corruption charges

Ukrainian Deputy Energy Minister and three accomplices arrested on corruption charges. The operation is part of Ukraine's strategy to strengthen transparency and meet European Union requirements.
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Fire at Zaporijia: IAEA maintains surveillance of power plant

A fire in the cooling system at the Russian-controlled Zaporizhia nuclear power plant has been brought under control. The IAEA confirms that there is no immediate nuclear danger, but continues to monitor the situation closely.

Glencore Maintains Coal Activities Despite Pressure

Glencore decided to retain its coal activities, despite shareholder and environmental pressure, while leaving the door open to a possible demerger in the future.

Asian LNG spot prices rise on geopolitical uncertainties

Spot LNG prices in Asia are at their highest level for seven months, driven by tensions over Russian supplies and rising demand amid extreme weather conditions.

OPEC+ exacerbates oil market tensions

In July, OPEC+ produced 437,000 barrels per day in excess of quotas, jeopardizing reduction plans and exacerbating the challenges facing an oil market already under pressure.

Europe faces the uncertainty of Russian gas transit via Ukraine

The imminent expiry of the gas transit agreement between Russia and Ukraine in 2024 could lead to major disruptions in energy supplies to several European countries, exacerbating current geopolitical tensions.