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Ukraine

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.
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.
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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.

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Swiss trader Gunvor has withdrawn its $22bn offer to acquire Lukoil’s international assets after the US Treasury announced it would block any related operating licence.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

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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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.

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. —
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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.

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.
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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. —

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.
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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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Japan opens public funding for nuclear projects to support reactor restarts
Shanghai Electric launches 625 MW upgrade to strengthen Iraq’s power grid
Awendio Solaris to invest CAD1bn in integrated solar plant in Montreal
Iran offers support to Venezuela after oil tankers seized by Washington
Subsea 7 extends Equinor contract for subsea services in Norway
Oil rises over 3% following trade agreement between Washington and London
Brent and WTI prices surged after the announcement of a trade deal between the United States and the United Kingdom, raising expectations of a rebound in global crude demand.
Opec+ weighs on crude market with production increase in June
Oil prices are trending downward under the combined pressure of increased output from Opec+ members and the potential for a nuclear deal between Iran and the United States.

Energy methane emissions reach 120 million tonnes in 2024

Methane released by the oil, gas and coal sectors remained at near-record levels, according to the International Energy Agency, which flagged the scale of massive leaks detected.
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Putin calls for a regulated nuclear deal between Washington and Tehran
Russia positions itself as an active supporter of nuclear talks between Iran and the United States, advocating for a balanced legal framework in line with international law.
The European Union plans to ban all Russian gas imports by the end of 2027
Brussels announces a full exit from Russian gas by the end of 2027, despite a remaining 9% dependency and pressure on the global liquefied natural gas market.

Oil rebounds over 3% driven by gasoline demand

Crude prices gained momentum after a drop triggered by OPEC+, supported by strong gasoline demand in the United States ahead of the summer season.
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Macron welcomes Berdymukhamedov in pursuit of gas deals with Turkmenistan
The French president hosts Turkmen leader Gurbanguly Berdymukhamedov in Paris to finalise economic agreements amid geopolitical rivalries over Central Asian gas resources.
Washington and Kyiv seal energy deal on strategic mineral resources
The United States and Ukraine have established a joint fund to exploit Ukrainian natural resources, under a bilateral agreement with no explicit military commitments.

Opec+ ramps up production despite crude falling below $62

Eight Opec+ members will raise output by 411,000 barrels per day in June, boosting global supply amid falling prices and ongoing trade tensions.
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Naftogaz receives €270 million from EBRD to bolster gas reserves in Ukraine
Ukraine will receive a €270 million loan from the European Bank for Reconstruction and Development, backed by a Norwegian grant, to secure gas imports over two winters.
Washington secures access to Ukrainian mineral resources through joint investment fund
The United States and Ukraine have signed a bilateral agreement establishing an investment fund aimed at financing reconstruction and natural resource extraction projects on Ukrainian territory.

Ukrainian gas production falls by 50% after Russian strikes

Russian attacks on Ukrainian gas infrastructure have halved national production, pushing Kyiv to seek alternative import sources to secure winter supply.
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Washington grants another two-month reprieve for sanctions against NIS
The United States extends until June 27 the suspension of sanctions targeting NIS, the Serbian energy company controlled by Gazprom, providing strategic relief to gas-dependent Serbia.
Russia and Iran bet on a rise in trade with their free trade agreement
Russia and Iran anticipate a sharp acceleration in their trade relations with the entry into force of their free trade agreement in May, covering oil, gas and civil nuclear cooperation.

Tariffs, Oversupply: Oil Industry Faces Imminent Global Contraction

The global oil industry anticipates a significant decline in exploration and production investments from 2025, amid persistent oversupply, exacerbated by increased U.S. tariffs and recent decisions by OPEC+.
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Washington criticises anti-fossil policies at IEA summit
The United States strongly criticised anti-fossil fuel policies at the International Energy Agency (IEA) summit, highlighting their dangers to global energy security.
Summit in London: Tensions over the role of renewable energy in global energy security
In London, global officials gather to discuss energy security amid rising geopolitical tensions. Disagreements persist on the role of renewable energy in meeting global demand.

The Czech Republic ends 60 years of dependency on Russian oil

The Czech Republic has ended its dependency on Russian oil after more than six decades, a major shift made in response to Russia's invasion of Ukraine.
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Time is running out for a nuclear deal, warns IAEA head in Tehran
The Director General of the International Atomic Energy Agency, Rafael Grossi, emphasised the urgency of reaching a deal on Iran's nuclear programme before crucial negotiations scheduled this weekend in Rome.
Auxiliary works begin for modular nuclear project in Uzbekistan
Uzbekistan has launched the construction of auxiliary buildings for its future modular nuclear reactor, the first export project for the Russian RITM-200N technology.
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