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Ukraine

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.

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Swiss trader Gunvor has withdrawn its $22bn offer to acquire Lukoil’s international assets after the US Treasury announced it would block any related operating licence.

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.

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.
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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.

Elogen to deliver electrolyser to RoyalStav and Veolia for project in Slovakia

Elogen will supply a 1 MW PEM electrolyser for a cogeneration plant operated by Veolia Energia Slovensko, in partnership with RoyalStav, near Žiar nad Hronom.
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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. —
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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.

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.

Mondi invests €120mn in biomass power plant in Slovakia to cut energy reliance

Mondi SCP will build a new biomass power plant in Ružomberok to boost energy self-sufficiency from 75% to 90% by 2027, with a €120mn ($129mn) investment supported by the European Union’s Modernisation Fund.
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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.

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.
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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.

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.
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Photon Energy Group posts 7.5% growth despite declining EBITDA

Photon Energy Group reports quarterly revenue growth driven by solar technology trading, while profitability falls due to a weaker capacity market.

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.

Resumption of Russian Oil to Hungary Despite Tensions Linked to Ukrainian Strikes

The Druzhba pipeline has resumed flows to Hungary, while recent strikes raise questions about the energy interests at stake within the European Union.
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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.

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.
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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.

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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OT Cyberattacks: Energy Sector Faces $329 Billion in Risks

A Dragos report reveals the scale of cyber vulnerabilities in global energy infrastructures. Potential losses reach historic highs.

Moscow develops Arctic turbines for the Northern Sea Route

The Russian Ministry of Industry and Trade is announcing "Arctic configuration" wind generators to power infrastructure on the Northern Sea Route, without listing any companies at this stage, with the stated aim of technological sovereignty.
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