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Ukraine

The EU sanctions CNPC units as ESPO pipeline flows remain stable
The European Union targets a trading subsidiary and a refinery linked to China National Petroleum Corporation, tightening access to financial and insurance services without disrupting pipeline deliveries, with reallocations expected in settlements, insurance, and logistics. —
Hungary seeks to maintain Russian oil imports despite sanctions
Viktor Orban says he is working to bypass recent US sanctions targeting Rosneft and Lukoil, underscoring Hungary’s continued reliance on Russian hydrocarbons.

Italian court reviews extradition of Ukrainian suspect in Nord Stream sabotage

A former Ukrainian soldier accused of taking part in the 2022 sabotage of the Nord Stream pipeline is at the centre of a contested extradition process between Italy and Germany, revived by a ruling from Italy’s Court of Cassation.
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India redirects its diesel to Africa and Brazil ahead of 2026
Traceability requirements from the EU (European Union) on fuel origin are reshaping Indian refined flows, with a shift toward Africa and Brazil supported by local premiums and a decline in Russian exports.
Washington hits Rosneft and Lukoil, EU tightens, Brent climbs
U.S. sanctions targeting Rosneft and Lukoil trigger a rebound in oil, while the European Union prepares a clampdown on liquefied natural gas and maritime logistics, with immediate repercussions for markets and Russia’s export chain.

UNEP, EU and Japan frame methane: 12% responses, LNG under pressure

Rising responses to UNEP’s satellite alerts trigger measurement, reporting and verification clauses; the European Union sets import milestones, Japan strengthens liquefied natural gas traceability; operators and steelmakers adjust budgets and contracts.
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Takaichi secures the LDP–Ishin axis, pro-nuclear, and eases fuel taxation
The new Liberal Democratic Party (LDP)–Japan Innovation Party (Nippon Ishin no Kai) axis combines a nuclear restart, targeted fuel tax cuts and energy subsidies, with immediate effects on prices and risk reallocations for operators. —
OPEC production uncertainty keeps global oil market from deeper slide
As Brent hovers near $60, growing opacity around OPEC’s output restrains a steeper decline in crude prices amid surplus warnings by the International Energy Agency.

Oxford Energy Institute Data Confirms the Dominance of Contrarian Strategies in Oil Trading

The Oxford Energy Institute study shows that signals from weekly positions and the Brent/WTI curve now favor contrarian strategies, in a market constrained by regulation and logistics affected by international sanctions. —
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Bolivia: Paz prepares energy overhaul, lithium and gas transit reforms
The president-elect outlines a pro-market agenda: gradual reform of fuel subsidies, review of Yacimientos de Litio Bolivianos (YLB) lithium contracts, and monetization of gas transit between Argentina and Brazil, prioritizing supply stabilization.
Karachaganak cuts production after drone strike on Russian gas facility
Kazakhstan’s Karachaganak gas field has reduced output by nearly one-third following an incident at a key Russian gas processing plant targeted by a Ukrainian drone strike.

Russia delivers 105,000 tons of crude to new Kulevi refinery

Russian company Russneft has shipped its first oil cargo to Georgia’s newly launched Kulevi refinery, despite the absence of formal diplomatic ties between Moscow and Tbilisi.
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EU approves ban on Russian gas imports by end of 2027
European Union member states have approved the principle of a full ban on Russian natural gas imports, set to take effect by the end of 2027.
The United States keeps 50% duties if India buys Russian crude
Washington ties the removal of additional duties to a verifiable decline in India’s imports of Russian crude, while New Delhi cites already-committed orders and supply stability for the domestic market.

China cuts its oil surplus to 570,000 barrels per day and prepares a cycle of strategic purchases

The decline in imports and the rise in refining in September reduced China’s crude surplus to its lowest in eight months, opening the way for tactical buying as Brent slips below 61 dollars.
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Finland leads race to host first Nordic fusion reactor, report finds
A technical study commissioned by Novatron Fusion Group identifies Finland as the most prepared country to host a fusion reactor, despite favourable conditions across the Nordic region.
Aker BP and Halliburton complete first umbilical-less subsea tubing hanger installation
Halliburton and Aker BP have completed the first umbilical-less tubing hanger installation on the Norwegian continental shelf, paving the way for digitised offshore operations with reduced infrastructure.

SLB net income drops to $739mn despite revenue boost from ChampionX integration

Energy services provider SLB saw its net income fall by 38% year on year in Q3 2025, even as the integration of ChampionX helped lift revenue by 4% sequentially.
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Schröder defends Nord Stream 2 before German commission over Russian ties
Former German Chancellor Gerhard Schröder supported the Nord Stream 2 pipeline before an inquiry, dismissing criticism over his role and Russian funding linked to the project.
Russia definitively ordered to pay $50bn to former Yukos shareholders
The Dutch Supreme Court has rejected Russia's final appeal, confirming a record $50bn compensation to former Yukos shareholders, ending two decades of legal battle.
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BP restarts Whiting refinery after power outage and fire
Gran Tierra signs $200mn prepayment deal and adjusts debt structure in Colombia
EDF promises stable electricity prices in 2026 despite tariff reform
EDF considers targeted asset sales to boost financial flexibility
Eni phases its biorefineries to 1.65 Mt/y and secures financing
Europe extends gas storage obligations until 2027
The European Union extends gas storage regulations by two years, requiring member states to maintain a minimum fill rate of 90% to ensure energy security and economic stability amid market uncertainties.
Norsk Kjernekraft creates a 1,280 MWe SMR nuclear plant near Mongstad
Norsk Kjernekraft and the municipality of Austrheim launch Fensfjorden Kjernekraft AS to build a 1,280 MWe SMR nuclear plant near the Mongstad oil site, aiming to reduce Norwegian industrial emissions and secure the electricity supply.

France and Norway formalize an agreement on cross-border CO₂ transport

France and Norway sign an agreement facilitating the international transport of CO₂ to offshore geological storage facilities, notably through the Northern Lights project and the CO₂ Highway Europe infrastructure.
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Russia Forecasts Drop in Electricity Exports to China
The Russian company InterRAO anticipates a 4% annual reduction in electricity exports, primarily impacted by a significant decrease in shipments to China due to limited hydroelectric production and rising domestic demand.
Statkraft reduces offshore wind investments following strategic review
Statkraft refocuses investments on flexible Nordic hydropower and reduces commitments in offshore wind and hydrogen to lower operating costs, amid an uncertain economic environment and pressured profitability.

Hungary and Slovakia jointly oppose European ban on Russian energy

Budapest and Bratislava jointly reject the European Commission's proposal to ban Russian energy supplies, highlighting significant economic risks and a direct threat to their energy security, days ahead of a key meeting.
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Russia and Mali Sign Trade Agreements and Target Nuclear Energy
Russia strengthens its economic presence in Mali with new agreements, notably in nuclear energy and gold refining, consolidating strategic cooperation within a rapidly evolving geopolitical context.
Eni, BP and TotalEnergies partially evacuate Iraq; Lukoil maintains operations
Following US strikes in Iran, international energy companies partially evacuate their teams from Iraq as a precaution, while Lukoil maintains its entire personnel on southern oilfields.

Chinese Refineries Cautious Amid Iran-Israel Tensions Threatening Oil Supply

Chinese independent refineries remain cautious amid rising Iranian crude prices driven by escalating Iran-Israel tensions, potentially threatening access to the strategic Strait of Hormuz.
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Gazprom offers Pakistani company Nigerian assets to boost Asian expansion
Gazprom, affected by a historic $6.9bn loss in 2023, is offering Pakistani state-owned firm OGDCL its petroleum assets in Nigeria to strengthen its presence in Asia’s energy market, according to Pakistani sources.
Russia ready to deliver liquefied natural gas to Mexico
Russia positions itself to supply liquefied natural gas to Mexico and considers expanded technological sharing in the energy sector, according to Russian Energy Minister Sergey Tsivilyov.

France: Moratorium on renewables; warning about immediate industrial impact

French Minister Agnès Pannier-Runacher condemns the parliamentary moratorium on new renewable energy installations, warning of the potential loss of 150,000 industrial jobs and increased energy dependence on foreign countries.
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Equinor launches its first solar power plant in Denmark through subsidiary BeGreen
The Ingerslev Å solar plant, operated by BeGreen, an Equinor subsidiary, begins production in Denmark, adding a capacity of 65 MW and generating approximately 68 GWh annually for the local DK1 electricity market.
Norway: Johan Castberg oil field reaches full capacity in three months
Three months after starting production, Norway’s Johan Castberg oil field, located in the Barents Sea, reaches its full capacity of 220,000 barrels per day, significantly increasing energy supplies to Europe.

UK Sanctions 20 “Shadow Fleet” Tankers and Rosneft Marine

The United Kingdom tightens sanctions against Russia's oil sector by targeting twenty tankers operating in the "shadow fleet" and Rosneft Marine, amid rising crude prices exceeding the G7-imposed price cap.
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Globeleq acquires 51% of Lunsemfwa Hydro Power in Zambia from Norfund
Globeleq acquires a majority stake in Lunsemfwa Hydro Power Company, marking its entry into the Zambian energy market with two hydropower plants and a solar project.
ORLEN boosts LPG import capacity with major investment
ORLEN Paliwa has doubled storage capacities and increased annual LPG handling by 65% in Szczecin, now reaching 400,000 tonnes following an investment exceeding PLN 150 million ($36.5mn).

Serbia negotiates gas deal with Gazprom at competitive European price

Belgrade is currently finalising a new gas contract with Russia, promising Europe's lowest tariff, according to Srbijagas General Director Dusan Bajatovic, despite Europe's aim to eliminate Russian imports by 2027.
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ORLEN Group secures €382 million for its hydrogen projects
The Polish energy group ORLEN receives a non-repayable grant of €382 million from the National Recovery Plan to finance its renewable and low-emission hydrogen production initiatives.
Statkraft announces $292 million cuts amid European financial pressures
Norwegian group Statkraft plans an annual cost reduction of NOK2.9bn ($292 million) by 2027, citing possible job cuts amid rising financial burdens and volatility in the European energy market.
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