Ukraine

GreenH launches construction of three green hydrogen projects in Bodø, Kristiansund and Slagentangen, backed by NOK391mn ($35.86mn) in public funding, aiming to strengthen decarbonised maritime supply along Norway’s coast.
Nel ASA becomes technology provider for the Enova-supported hydrogen sites in Kristiansund and Slagentangen, with a combined minimum capacity of 20 MW.

Uniper shuts down Karlshamn-2 after failure of Swedish winter backup scheme

The shutdown of Karlshamn-2 removes 335 MW of heavy fuel oil capacity from southern Sweden, exposing the limits of a strategic reserve model approved but inoperative, and increasing pressure on winter supply security.
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RWE has finalised installation of all 44 foundations at the Nordseecluster A offshore site in the North Sea, a key milestone before planned maintenance activities leading up to 2027 on this 660-megawatt project.
INNIO and KMW partner to construct a 54 MW modular gas power plant in Mainz, designed to stabilise the grid and ensure supply to the future Green Rocks data centre.

Nel ASA secures over $50mn PEM order for two hydrogen projects in Norway

Norwegian group Nel ASA has received a firm order worth over $50mn to supply its PEM electrolysers for two green hydrogen production units in Florø and Eigersund.
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Aker Solutions has secured a five-year brownfield maintenance contract extension with ExxonMobil Canada, reinforcing its presence on the East Coast and workforce in Newfoundland and Labrador.
Norwegian provider TGS will mobilise its marine seismic resources for at least 18 months for Chevron under a three-year capacity agreement covering exploration and development projects.

DNO strengthens position in Verdande through asset swap with Aker BP

Norwegian firm DNO increases its stake in the developing Verdande field by offloading non-core assets to Aker BP in a cash-free transaction.
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Norway's energy regulator has rejected an application to build a wind farm in the northern Finnmark region due to potential environmental impacts and threats to Indigenous Sami culture.
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.

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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The Algerian government plans a full upgrade of the SCADA system, managed by Sonelgaz, to improve control and supervision of the national electricity grid starting in 2026.
Scatec strengthened growth in the third quarter of 2025 with a significant debt reduction, a rising backlog and continued expansion in emerging markets.

Norwegian fund generates €88 billion in gains through financial markets

Norway's sovereign wealth fund generated a €88 billion profit in the third quarter, largely driven by equity market performances in commodities, telecommunications, and finance.
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Equinor reported 7% production growth and strong cash flow, despite lower hydrocarbon prices weighing on net results in the third quarter of 2025.
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. —

Iberdrola installs its first offshore HVDC station in the United Kingdom

Iberdrola has installed the high-voltage direct current converter station for its East Anglia THREE wind farm, marking a key milestone in a €5 billion project.
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The European Court of Human Rights ruled that Norway’s deferral of a climate impact assessment did not breach procedural safeguards under the Convention, upholding the country’s 2016 oil licensing decisions.
Noble Corporation reported a net loss in the third quarter of 2025 while strengthening its order backlog to $7.0bn through several major contracts, amid a transitioning offshore market.
BW Energy plans to reach a production of 40,000 barrels per day off the coast of Gabon by the end of 2024, thanks to an intensive drilling campaign in the Dussafu block.
A Memorandum of Understanding (MoU) has been signed to launch the SoutH2 project, an energy corridor connecting Algeria to Europe. This 3,300 km pipeline will transport up to 4 million tonnes of green hydrogen per year by 2030.

Germany: SEFE and ConocoPhillips sign a 10-year gas purchase agreement

Germany's SEFE has concluded a gas purchase deal with U.S. company ConocoPhillips for the delivery of 9 billion cubic meters of gas over 10 years, as part of a new business partnership.
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France assures it has the necessary infrastructures to meet its gas needs this winter while supporting its European neighbors, despite potential drops in temperatures.
Nel ASA has received a 135 million euro grant from the European Innovation Fund to industrialize a new pressurized alkaline electrolyzer technology at Herøya, Norway.

Norway: Sovereign fund records 71 billion euros in gains in Q3 2024

Norway: Sovereign fund records 71 billion euros in gains in Q3 2024
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LNG Freight Rates Hit Multiyear Lows Amid Weak Demand
Ohmium and SwitcH2 Have Finalized the Development of a 300 MW Green Ammonia Floating Production Project off Southern Europe

Deputies Revoke the Electricity Tax Increase in Committee

Members of the Finance Committee have rejected a planned increase in the electricity tax, influenced by various amendments and concerns related to energy poverty. However, the project will be re-examined in a plenary session.
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TotalEnergies announces a drop in its refining margins in Q3 2024, with a 66% decrease compared to the previous quarter, due to falling prices for petroleum products worldwide.
In the heart of Donbass, Ukrainian miners continue to extract essential coal despite bombings. Their work, a true energy front, is crucial to maintaining Ukraine's electricity supply during wartime.

Oil: IEA assures sufficient supply amid geopolitical tensions

The International Energy Agency confirms that the oil market remains stable despite tensions in the Middle East, while preparing to intervene if necessary.
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The project aimed at securing Chernobyl's original shelter enters a new phase, evaluating structures requiring immediate dismantling or stabilization. This essential initiative extends site safety.
As China, the world's second-largest oil consumer, may reach a peak in refined product demand by 2027, the implications for the global oil market and prices are significant.

Libyan Oil Production Soars After End of Political Conflict

The Russian Deputy Prime Minister announces that the decision to increase oil production by OPEC+ in December remains uncertain, due to market fluctuations and global demand.
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Fortum, a major player in the Finnish energy sector, is confronting a surge of cyberattacks and suspicious surveillance activities around its facilities in Finland and Sweden, likely orchestrated by Russian actors, heightening geopolitical tensions in the region.
Libya's National Oil Corporation (NOC) has restored its oil production to 1.22 million barrels per day (bpd) after disruptions caused by internal conflicts. This recovery marks a temporary stabilization, but the political context remains unstable.

Hungary Sees TurkStream as Vital Alternative Amidst Ukraine Gas Transit Uncertainty

Hungary Sees TurkStream as Vital Alternative Amidst Ukraine Gas Transit Uncertainty
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Masdar strengthens its collaborations with Norwegian companies to develop renewable energy and green hydrogen projects during an official visit to Norway.
The international technology group ANDRITZ has been selected to upgrade one of the units of Norway's largest run-of-river hydropower plant, Vamma, increasing its capacity by 22% while improving its energy efficiency.