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Ukraine

Sinexcel deploys its first 1.5 MW energy storage system in Ukraine

Sinexcel has commissioned its first 1.5 MW/3 MWh energy storage system in Ukraine, supporting local grid stability and strengthening its presence in the European market.

OPEC+ keeps production targets unchanged for early 2026 despite market pressure

The group of major oil producers extends its stability strategy despite a drop in prices of more than 18% in 2025 and projected supply surplus for the coming year.

Global oversupply drove Brent crude down to $63 in December 2025

Brent crude fell to its lowest level since 2021, as persistent oversupply throughout 2025 weighed on prices despite isolated geopolitical tensions and China’s strategic stockpiling.
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India’s Russian oil imports drop in January as Reliance expects no deliveries

India’s crude imports from Russia could hit an eighteen-month low as Reliance Industries anticipates no shipments in January due to logistical and commercial disruptions.

Kursk II reactor starts at 240 MW, marking gradual power increase

Russia has connected its first 1,250 MW VVER-TOI reactor at the Kursk II nuclear power plant to the grid, signalling a key step toward full commissioning by 2034.

Belgrade hopes for swift Russia-Hungary deal to unlock NIS’s future

Serbia is aiming for a quick agreement between Gazprom and Hungarian group MOL on the sale of Russian-held NIS shares, key to restarting its only refinery shut down by US sanctions.
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Storm in the Black Sea halts crude shipments at CPC terminal

Caspian Pipeline Consortium suspended loading and intake operations due to a storm and full storage capacity.

Russian gas exports to Europe fall to 18 bcm, lowest level since the 1970s

Pipeline natural gas deliveries from Russia to the European Union dropped by 44% in 2025, reaching their lowest level in five decades following the end of transit via Ukraine.

Lithuania extends gas transit to Kaliningrad until 2030

Amber Grid has signed an agreement to maintain gas transit to Russia’s Kaliningrad exclave, with a daily capacity cap of 10.5 mn m³ until the end of 2030, under a framework regulated by the European Union.
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Russia provides $9bn for Turkey’s Akkuyu nuclear power plant

Ankara confirmed new Russian funding for the Akkuyu project, Turkey’s first nuclear site, strengthening its energy ties with Moscow and advancing its domestic nuclear ambitions.

Nigerien junta rejects French accusations over uranium disappearance

Niger’s military regime disputes theft allegations by French prosecutors after uranium stock vanished from a nationalised site previously operated by Orano.

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.
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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.

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.
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OPEC+ Extends Production Cut to Stabilize Oil Prices

Under pressure from falling prices, OPEC+ decided to extend the production cut by 2.2 million barrels per day until December 2024 to maintain market balance.
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Brent crude falls to a 9-month record low: Markets in a state of uncertainty

Brent crude prices fell sharply on expectations of a rapid resumption of Libyan exports and possible adjustments to OPEC+ production cuts.

Ukraine: IAEA warns about the safety of nuclear power plants in conflict zones

The IAEA expresses its concerns about the safety of the Kursk and Zaporizhia nuclear power plants, threatened by armed conflict in Ukraine, during a meeting between Rafael Grossi and Volodymyr Zelensky.
Zaporizhia power plant, Ukraine

Orano establishes new uranium enrichment plant in Tennessee

Orano, a leader in the French nuclear sector, chooses Tennessee to develop a uranium enrichment plant, strengthening the United States' energy autonomy in the face of geopolitical risks linked to Russia.

Russian oil exports down on Asian demand

Exports of Russian petroleum products fell sharply in August, to a level not seen since the pandemic, due to weaker demand in Asia and a shift towards the domestic market.

Algeria: Tebboune aims for economic reforms to consolidate his power

Abdelmadjid Tebboune, Algerian President and candidate for re-election, is focusing his strategy on economic reforms against a backdrop of dependence on hydrocarbons and criticism of the political status quo.
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Fortum reduces Russian dependence with Westinghouse nuclear fuel

Fortum now uses fuel from Westinghouse Electric Company for its Loviisa reactors, a strategic move to diversify supplies and strengthen Finland's energy security.
Centrale nucléaire de Loviisa, Finlande

French diesel prices back to pre-Ukrainian conflict levels

Diesel prices fall to €1.60/L, returning to pre-Russian invasion levels, despite the volatility of the oil market.

Extended exemption from Russian coal export duties

Russia extends export duty exemption for thermal coal until December. Despite this measure, logistical restrictions and sanctions continue to hold back global demand.
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Brazil: Petrobras adjusts its gas reinjection strategy in line with its priorities

Petrobras decided to reduce the reinjection of natural gas into new wells, underlining a pragmatic approach that contrasts with Lula da Silva's declared climate objectives at COP28, exposing tensions within Brazil's energy policies.

LNG market under pressure as uncertain winter approaches

Despite high European inventories, the global LNG market remains exposed to supply risks and growing demand from Asia and Latin America, fuelling tensions ahead of winter.

Algeria joins the New BRICS Development Bank

Algeria joins the New BRICS Development Bank, seeking to diversify its sources of financing and strengthen its position on the international financial scene.
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EU ban on Russian LNG threatens future of Yamal LNG

The European Union bans the transshipment of Russian LNG in its ports, complicating Yamal LNG's exports. This tightening of sanctions could upset the balance of the global gas market.
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Azerbaijan: Strategic repositioning and dependence on hydrocarbons

Azerbaijan, rich in oil and gas, is adjusting its energy policy to maintain its position on international markets while responding to the challenges of an economy overly concentrated on hydrocarbons.
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Ukraine clarifies its commitments on oil transit via Droujba

After a confused communication, Ukraine confirms the continuation of Russian oil transit via the Druzhba pipeline until 2029, alleviating the concerns of its European partners and underlining the importance of this energy axis for Central Europe.
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Hungary persists with Gazprom despite EU energy policy

Hungarian Foreign Minister Peter Szijjarto discusses energy supplies with Gazprom CEO Alexei Miller in Russia, a move that heightens tensions with the European Union.
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Asian LNG prices outperform US prices amid uncertainty

Liquefied natural gas (LNG) prices in Asia continue to climb relative to the US, buoyed by geopolitical tensions and global supply disruptions, reflecting an energy market under pressure.

Repercussions in Europe of the end of Russian gas transit via Ukraine

Ukraine terminates Russian gas transit contract to Europe from 2025. This decision forces European countries to review their supply strategies and adapt to the new dynamics of the energy market.
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Qatar in talks to buy Rosneft’s stake in Schwedt

Ukraine interrupts Russian gas transit: immediate impact for Europe

Ukraine is terminating its gas transit contract with Gazprom from December 31, 2024, a move that will disrupt energy flows to Europe and heighten geopolitical tensions.
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