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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Swiss trader Gunvor has withdrawn its $22bn offer to acquire Lukoil’s international assets after the US Treasury announced it would block any related operating licence.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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The United States sanctions Gazprom Neft and 200 Russian ships worth $23 billion

Washington and London impose historic sanctions on the Russian energy sector, targeting Gazprom Neft and a fleet of 200 ships. Moscow accuses the U.S. of global destabilization, while Biden defends the strategic impact.

Norway Sets Record in Natural Gas Production in 2024

With 124 billion m³ of gas produced in 2024, Norway consolidates its position as Europe’s primary supplier, replacing Russia in a tense geopolitical context.

Shell anticipates a decline in gas performance in Q4 2024

The British energy giant Shell expects disappointing results in its gas division for Q4 2024 due to expiring hedging contracts and reduced production.
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Moldova Faces a Hybrid War with Russia

Russia has suspended gas deliveries to the pro-Russian separatist region of Transnistria, intensifying energy and political tensions in Moldova. The European Union denounces a maneuver aimed at destabilizing the region.

Moldova Accuses Gazprom of Provoking an Energy Crisis in Transnistria

Moldova and Gazprom are at odds over a debt estimated between $9 million and $700 million, exacerbating Transnistria's energy crisis. The separatist region faces the risk of total power outages in the midst of winter.

Underwater Sabotage in the Baltic: Sweden Aids Investigation on the EstLink 2 Cable

An undersea cable linking Finland and Estonia has been damaged in the Baltic Sea. Suspected of belonging to the Russian "ghost fleet," the tanker Eagle S is at the center of investigations, reinforced by a Swedish naval vessel.
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Russia Faces a 9,200-Ton Oil Spill in Sevastopol

The sinking of two Russian oil tankers caused an unprecedented 9,200-ton oil spill impacting the Kerch Strait and Sevastopol. This crisis highlights significant technological challenges and geopolitical tensions in the region.

Moldova: Power Outages and Energy Crisis in Transnistria

The end of Russian gas supplies via Ukraine plunges Transnistria, Moldova's separatist region, into a severe energy crisis, leading to power cuts for its residents and increasing tensions with Chisinau.

Russia Alerts on 73,000 Tons of Contaminated Sand After a Shipwreck in Crimea

The oil spill in the Kerch Strait caused by the shipwreck of two Russian tankers has contaminated 73,000 tons of sand, raising concerns about the costs and environmental impact in Russia and Crimea.
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Moldova reduces industrial activity by 80% in Transnistria after gas cutoff

The halt of Russian gas deliveries in Transnistria triggers a significant industrial decline, emphasizing critical energy and economic tensions in the unrecognized region.

Slovakia: Strong Gas Reserves in the Face of the End of Russian Transit

Slovakia claims readiness for the halt of Russian gas transit via Ukraine in 2025, despite financial costs and impacts on European markets. Reserves and alternatives ensure national energy security.

United States Targets Houthis in Yemen with Seven Drones Destroyed

Recent U.S. strikes in Yemen targeted critical Houthi infrastructure, resulting in the destruction of seven drones and missiles amid heightened tensions over Red Sea maritime routes.
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Finland accuses Eagle S of sabotage affecting 40 km of undersea cable

A suspected sabotage of the EstLink 2 cable connecting Finland to Estonia results in travel bans for seven sailors. A thorough investigation highlights significant geopolitical implications.

Ukraine ends Russian gas transit, impacting 14 billion m³ annually

The interruption of Russian gas transit through Ukraine affects 14 billion cubic meters annually, triggering major political and economic consequences for Eastern Europe.

Europe’s Nuclear Revival: Accelerating SMR Development

After years of focusing on renewable energy, the European Union is channeling resources into developing small modular reactors (SMRs) and strengthening its nuclear infrastructure.
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Russia opens a Rosatom factory for 450 wind turbine blades in Ulyanovsk

A Rosatom factory in Ulyanovsk will produce 450 wind turbine blades annually, strengthening Russia's industrial capacity and supporting the development of the country's largest wind farm.

Europe: a surplus of regasification capacity in 2024

The rapid increase in regasification capacities in Europe exceeds actual LNG imports in 2024.

Moldova faces Gazprom amid $700 million debt dispute

Gazprom suspends gas deliveries to Moldova starting January 1, citing a $700 million debt dispute. This interruption, in the midst of political tensions, underscores the country's energy dependency.
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Slovakia Faces €150 Million Increase in Russian Gas Costs

The halt of Russian gas transit through Ukraine threatens energy supplies in Eastern Europe. Slovakia could face a €150 million cost increase, amplifying political and economic tensions.

Ukraine Receives Its First Shipment of American LNG

Ukraine, in its quest for energy independence from Russia, has received its first shipment of liquefied natural gas (LNG) from the United States. This marks a significant milestone in securing its energy supply.
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