Ukraine

China’s crude oil imports rise 3.9% in September

China imported an average of 11.5 million barrels of crude oil per day in September, supported by higher refining rates among both state-run and independent operators.

OPEC maintains demand forecast and lowers expected 2026 deficit

OPEC confirms its global oil demand growth forecasts and anticipates a much smaller deficit for 2026, due to increased production from OPEC+ members.

Russia taps into Tajikistan’s rivers and cotton for joint ventures

Moscow strengthens industrial joint ventures with Tajikistan by leveraging hydropower, agriculture, and mining in a strategy based on mutual interest and economic complementarity.
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Croatia targets Russian stake in NIS to maintain oil flows

JANAF is interested in acquiring a 20 to 25% stake in NIS, as the Russian-owned share is now subject to US sanctions.

Australia loses Asian markets for seaborne thermal coal

Falling Chinese imports and Asia’s regional pivot increase pressure on Australian thermal coal exporters.

Rosatom begins excavation for small modular reactor project in Uzbekistan

The construction of Uzbekistan’s first small modular reactor (SMR) is underway, with 1.5mn m³ of earth being excavated in Jizzakh, marking a major milestone for the nuclear project led by Rosatom.
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US sanctions hit NIS, a key player in Serbia’s oil market

Serbian oil company NIS, partially owned by Gazprom, faces newly enforced US sanctions after a nine-month reprieve, testing the country's fuel supply chain.

Russia increases oil production and nears OPEC+ quota

Russian oil output moved closer to its OPEC+ allocation in September, with a steady rise confirmed by Deputy Prime Minister Alexander Novak.

Russia formally exits bilateral nuclear agreement with the United States

The State Duma has approved Russia’s formal withdrawal from a treaty signed with the United States on the elimination of military-grade plutonium, ending over two decades of strategic nuclear cooperation.
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Oil rises 1.3% after limited OPEC+ output increase

Crude prices rose following the decision by the Organization of the Petroleum Exporting Countries and its allies to increase production only marginally in November, despite ongoing signs of oversupply.

Ukraine plans to increase gas imports by 30% after Russian strikes

The Ukrainian government is preparing to raise natural gas imports by 30% to offset damage to its energy infrastructure and ensure supply continuity during the winter season.

Belarus quadruples fuel exports to Russia in September

Rail shipments of Belarusian gasoline to Russia surged in September as Moscow sought to offset fuel shortages caused by Ukrainian attacks on its energy infrastructure.
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Tusk refuses to hand over Ukrainian suspect to Germany over Nord Stream sabotage

Polish Prime Minister Donald Tusk said it was not in Poland’s interest to extradite to Germany a Ukrainian citizen suspected of taking part in the explosions that damaged the Nord Stream gas pipelines in 2022.

Denmark strengthens maritime controls at Skagen Strait amid Russian shadow fleet activity

Denmark is intensifying inspections of ships passing through Skagen, a strategic point linking the North Sea and the Baltic Sea, to counter the risks posed by the Russian shadow fleet transporting sanctioned oil.

China opts for quarterly thermal coal contracts with Indonesia for 2026

Chinese buyers begin negotiations for 2026 thermal coal deliveries, favouring shorter contracts to maintain flexibility in a stable price environment.
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Ukrainian strike cuts power to 5,400 homes in Belgorod region

A night-time attack on Belgorod’s power grid left thousands without electricity, according to Russian local authorities, despite partial service restoration the following morning.

Ukrainian suspected in Nord Stream sabotage faces possible extradition

Polish authorities have 40 days to decide on the extradition of a Ukrainian accused of participating in the 2022 sabotage of the Nord Stream pipelines in the Baltic Sea.

Opec+ raises production by 137,000 barrels per day in November

Opec+ slightly adjusts its quotas for November, continuing its market share recovery strategy amid stagnant global demand and a pressured market.
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Project InnerSpace unveils GeoMap in the Middle East with 14,000 GW geothermal potential

The new GeoMap tool identifies vast geothermal potential in the Middle East, notably for urban cooling, long-duration storage, and large-scale power generation.

OPEC+ prepares new production hike amid rift between Riyadh and Moscow

Eight OPEC+ countries are set to increase oil output from November, as Saudi Arabia and Russia debate the scale of the hike amid rising competition for market share.

EU–US energy deal faces global market realities

The European commitment to purchase $250bn of American energy annually raises questions about its technical and economic feasibility in light of limited export capacity.

Naftogaz signs first Transbalkan gas deal with Azerbaijani SOCAR

Naftogaz and the State Oil Company of the Republic of Azerbaijan (SOCAR) have formalised an initial contract for natural gas delivery via the Transbalkan corridor, opening new logistical perspectives for Ukraine’s energy supply.

Trump threatens tariffs on Russian oil, but Reuters says enforcement unlikely

Donald Trump has raised the prospect of tariffs on countries buying Russian crude, but according to Reuters, enforcement remains unlikely due to economic risks and unfulfilled past threats.
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Mozambique seeks Russian companies’ participation in natural gas development

Mozambique aims to strengthen the presence of Russian companies in natural gas exploration and production as the country looks to diversify its partnerships in the natural resources sector.

Hungary asserts refusal to abandon Russian oil and gas in face of European Union

Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto states Budapest will block any European ban on Russian hydrocarbon imports, stressing the impact on household energy costs.

Hungary confirms launch of Paks-2 with Rosatom by autumn

Hungary reaffirms its intent to double the capacity of its Paks nuclear power plant in partnership with Rosatom, with concrete works expected to begin in the autumn.
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Dutch court lifts freeze on Gazprom stake in joint venture with Wintershall

The Hague court has authorised the release of Gazprom’s shares in Wintershall Noordzee, following a judicial decision after several months of legal proceedings involving Ukrainian companies.

Nayara modifies payment terms for naphtha export tender following EU sanctions

Following the imposition of European Union sanctions, Nayara Energy adjusted its payment terms for a naphtha tender, now requiring advance payment or a letter of credit from potential buyers.

Europe records record LNG imports since April

Since early April, Europe has imported nearly 45 billion cubic meters (bcm) of liquefied natural gas (LNG), with storage prospects for winter putting pressure on gas prices.
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Trump to impose 100% tariffs on buyers of Russian oil

US Senator Lindsey Graham announced that President Donald Trump plans to impose 100% tariffs on countries purchasing Russian oil, including China, India, and Brazil.

Rosneft denounces EU sanctions against Nayara Energy as illegitimate

Russian oil group Rosneft rejects EU sanctions targeting Nayara Energy, in which it holds a 49.13% stake, citing a breach of international law and a threat to India’s energy security.

Europe restricts diesel made from Russian crude, prices surge

The European ban on fuels refined from Russian crude is reshaping import flows, adding pressure to already low inventories and triggering an immediate diesel price rally.
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COP30 under pressure: Bonn negotiations reveal persistent divides

Technical discussions in Bonn exposed deep financial rifts between developed and developing countries, raising questions about the COP process’s effectiveness months ahead of the Belém summit.

European Union tightens sanctions on Russian oil to increase diplomatic pressure

The European Union lowers the price cap on Russian crude oil and extends sanctions to vessels and entities involved in circumvention, as coordination with the United States remains pending.

A US-sanctioned LNG vessel docks at Russia’s Arctic LNG 2 terminal

The Voskhod vessel, under US sanctions, docked at the Arctic LNG 2 plant in Russia, marking the second visit by a sanctioned ship to the site this year, according to maritime tracking data.
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OPEC Cuts Forecasts but Anticipates Rising Oil Demand

OPEC slightly adjusts its production forecasts for 2025-2026 while projecting stable global demand growth, leaving OPEC+ significant room to increase supply without destabilizing global oil markets.

European Union struggles to agree on new Russian oil price cap

Talks between European Union member states stall on the adoption of the eighteenth sanctions package targeting Russian oil, due to ongoing disagreements over the proposed price ceiling.

Governments extend their stockpiles to cover 98 % of global oil

The Global Energy Policies Hub shows that strategic reserves, gas obligations, cybersecurity and critical-mineral policies are expanding rapidly, lifting oil coverage to 98 % of world imports.
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Serbia seeks new US sanctions waiver for NIS amid geopolitical tensions with Russia

Belgrade is engaged in complex negotiations with Washington to obtain a fifth extension of sanctions relief for the Serbian oil company NIS, which is majority-owned by Russian groups.

Terna and NPC Ukrenergo sign strategic agreement for European energy integration

Terna and NPC Ukrenergo have concluded a three-year partnership in Rome aimed at strengthening the integration of the Ukrainian grid into the pan-European system, with an in-depth exchange of technological and regulatory expertise.