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Ukraine

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Swiss trader Gunvor has withdrawn its $22bn offer to acquire Lukoil’s international assets after the US Treasury announced it would block any related operating licence.

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.
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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.

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.

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.
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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.

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. —
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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.

Orban attend des garanties énergétiques lors de sa rencontre avec Trump à Washington

Le Premier ministre hongrois se rendra à Washington pour discuter avec Donald Trump des sanctions américaines contre le pétrole russe, dans un contexte de guerre en Ukraine et de dépendance persistante de la Hongrie aux hydrocarbures russes.
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Italian court approves extradition of Ukrainian suspect in Nord Stream case

An Italian appeal court has approved the extradition to Germany of a former Ukrainian commander suspected of coordinating the 2022 sabotage of the Nord Stream gas pipeline, a decision now challenged in cassation.

First El Dabaa nuclear reactor receives 330-tonne pressure vessel

The reactor vessel for Unit 1 at Egypt’s El Dabaa nuclear plant has been delivered following a 20-day maritime transport from Saint Petersburg, marking a critical milestone in the country’s energy project.
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Fico to meet Putin in China before hosting Zelensky in Slovakia

Slovak Prime Minister Robert Fico plans to meet Vladimir Putin in Beijing before receiving Volodymyr Zelensky in Bratislava, marking a diplomatic shift in his relations with Moscow and Kyiv.

India defends Russian oil purchases amid Western criticism

India’s oil minister says Russian crude imports comply with international norms, as the United States and European Union impose new sanctions.

India accelerates its nuclear program to join the global top 5

With eleven reactors under construction and major projects such as Jaitapur, India is preparing a nuclear build-up that could place it among the world’s five leading nations in the sector.
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Putin and Pezeshkian to discuss Iranian nuclear program under European pressure

Russia and Iran seek to strengthen their nuclear cooperation as the E3 activates the sanctions mechanism against Tehran, reigniting tensions over compliance with the 2015 Vienna agreement.

AP1000 reactor certification extended in the US until 2046

The United States Nuclear Regulatory Commission has granted a 40-year extension for the AP1000 reactor design certification, supporting its long-term construction domestically and deployment abroad.

Washington grants sixth sanctions extension to Serbian oil firm NIS

The United States extends a 30-day reprieve to NIS, controlled by Gazprom, as Serbia seeks to maintain energy security amid pressure on the Russian energy sector.
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Washington activates Defense Production Act to secure enriched uranium

The US Department of Energy is creating an industrial consortium to accelerate domestic enriched uranium production and reduce reliance on foreign imports ahead of the Russian supply ban in 2027.

One of the drones from last weekend’s Ukrainian attack struck the Kursk nuclear power plant

The kamikaze drone damaged an auxiliary transformer at the Kursk plant, halving the output of its only reactor in operation, according to Rosatom and the International Atomic Energy Agency.

India diversifies coking coal purchases, Australia retreats

India’s coking coal imports are rising and increasingly split between the United States and Russia, while Australian producers redirect volumes to China; 2025 results confirm a shift in trade flows.
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Hungary Seeks U.S. Support After New Disruptions on the Druzhba Pipeline

Amid repeated disruptions on the Druzhba pipeline, attributed to Ukrainian strikes, Hungary has requested U.S. support to secure its oil supply.

Ukrainian Arrested in Italy Refuses Extradition for Nord Stream Sabotage

First suspect linked to the Nord Stream pipeline explosions, a Ukrainian citizen challenged by Berlin opposes his judicial transfer from Italy.

Ukrainian drones strike Russian energy sites and reignite tensions

Ukrainian drones targeted a nuclear power plant and a Russian oil terminal, increasing pressure on diplomatic talks as Moscow and Kyiv accuse each other of blocking any prospect of negotiation.
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Ukrainian Arrested in Italy for Alleged Role in Nord Stream Sabotage

A Ukrainian national suspected of coordinating the Nord Stream pipeline sabotage has been apprehended in Italy, reigniting a judicial case with significant geopolitical implications across Europe.

Oil prices rise after unexpected decline in US crude stocks

A surprise drop in US crude inventories and renewed focus on peace talks in Ukraine are shaping oil market dynamics.

U.S. Tariffs: India Increases Brazilian Crude Imports by 80% in 2025

Indian imports of Brazilian crude reach 72,000 barrels per day in the first half of 2025, driven by U.S. sanctions, and are expected to grow with new contracts and upstream projects between Petrobras and Indian refiners.
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Russian Strikes Threaten Gas Cooperation Between Azerbaijan and Ukraine

Azerbaijani energy infrastructure targeted in Ukraine raises concerns over the security of gas flows between Baku and Kyiv, just as a new supply agreement has been signed.

Russian Oil Deliveries to Hungary and Slovakia Suspended After Strike

Oil flows to Hungary and Slovakia via the Russian Druzhba pipeline have been halted, following an attack Budapest attributes to repeated Ukrainian strikes.

Putin Signs Decree Paving the Way for Exxon’s Return to Sakhalin-1

A new Russian presidential decree could allow Exxon Mobil to reclaim its stake in Sakhalin-1, under strict conditions tied to Western sanctions and equipment logistics.
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Modi Defends India’s Energy Autonomy Amid U.S. Tariff Pressure

Under threat of increased U.S. tariffs, New Delhi is accelerating its energy independence strategy to reduce reliance on imports, particularly Russian oil.

Funds Push European Carbon Positions to Highest Since April

Investors hold 28.9 million EUAs net long as of August 8, four-month record level. Prices stable around 71 euros despite divergent fundamentals.
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