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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Swiss trader Gunvor has withdrawn its $22bn offer to acquire Lukoil’s international assets after the US Treasury announced it would block any related operating licence.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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European Investment Bank grants €90mn to modernise Olkiluoto
Finland’s Olkiluoto nuclear plant will receive a €90mn ($104mn) loan from the European Investment Bank to upgrade units I and II as part of a programme aiming to extend their operational lifespan.
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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Korkia and Evolution Power secure approval for 250 MW solar project in the UK
The UK government has authorised the construction of the Stonestreet Green Solar project, combining 150 MWp of solar capacity and 100 MW of battery storage, marking a major step for Korkia and Evolution Power’s infrastructure portfolio.
Kazakhstan begins negotiations to export uranium to Finland
Talks are underway between Astana and Helsinki to consider the delivery of Kazakh uranium for Finnish nuclear power plants, amid efforts to diversify energy export markets.
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Holtec and MVM join forces to deploy small nuclear reactors in Hungary
Primary Hydrogen targets Q1 2026 permit for its Wicheeda North project
Ocean Winds launches its first offshore measurement campaign for the High Sea Wind project
EDF raises cost estimate for six new nuclear reactors to €72.8 billion
Baker Hughes signs multi-year contract to equip Kuwait’s oilfields
Russia gains adoption of oil and gas standards in Africa and the Middle East
Around 80 Russian technical standards for oil and gas have been internationally validated, notably by the United Arab Emirates, Algeria and Oman, according to the Institute of Oil and Gas Technological Initiatives.
Russian Shadow Fleet Disrupts Global Oil Balance in Asia
Hundreds of aging tankers transport Russian oil to Asia, circumventing Western sanctions while creating major environmental risks and transforming global trade flows.

ADNOC L&S Defies Maritime Turbulence with Record Second Quarter Results

The Emirati logistics giant posts 40% revenue growth despite depressed maritime freight rates, driven by Navig8 integration and strategic fleet expansion.
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Valmet signs a national agreement to provide valve services to Petrobras
Valmet will supply and maintain Petrobras’ Neles™ valves across all its operations in Brazil under a one-year contract renewable for up to five years.
OPEC+ Cuts Production Despite Higher Quotas in July
OPEC+ oil production fell to 41.65 million barrels per day in July 2025, reveals S&P Global's Platts survey, as Saudi Arabia normalizes production after June's Iran-Israel tensions.

Canada joins EU and G7 to lower the Russian oil price cap

The Canadian government adopts a new dynamic cap of $47.60 per barrel for Russian oil, aligning its position with that of the European Union and the United Kingdom.
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OPEC+ to complete in September the full withdrawal of 2.2 million b/d voluntary cuts
The eight OPEC+ members concerned will end next month the cuts introduced in November 2023, while keeping the option to readjust their output depending on market fundamentals and quota compliance.
Surveys for Kazakhstan’s first nuclear power plant enter active phase
Field studies to determine the location of Kazakhstan’s first nuclear power plant have begun near the village of Ulken, marking a key stage in a project led by Rosatom.

The Black Sea Defies Financial Obstacles to Become Europe’s Gas Hub

Giant discoveries are transforming the Black Sea into an alternative to Russian gas, despite colossal technical challenges related to hydrogen sulfide and Ukrainian geopolitical tensions.
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Russian oil and gas revenues fall by 27% in July 2025
Revenues generated by oil and gas in Russia recorded a significant decrease in July, putting direct pressure on the country’s budget balance according to official figures.
Belarus paves the way for strategic nuclear cooperation with Uzbekistan
Belarus offers its expertise to support the construction of Uzbekistan’s first nuclear power plant, as Tashkent accelerates its civil energy projects with new international partnerships.

Indonesia finalises free trade agreement with Eurasian Economic Union for December

A free trade agreement between Indonesia and the Eurasian Economic Union is set to be signed in December, aiming to reduce tariffs on $3 bn worth of trade and boost bilateral commerce in the coming years.
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India sends top adviser to Moscow as US steps up pressure on Russian oil imports
The visit of India's national security adviser to Moscow comes as the United States threatens to raise tariffs on New Delhi due to India’s continued purchases of Russian oil.
Kazakhstan ships 85,000 tonnes of crude oil to Hungary via Croatia for the first time
KazMunayGas has completed its first delivery of 85,000 tonnes of crude oil to Hungary, using maritime transport through the Croatian port of Omisalj as part of a broader export strategy to the European Union.

The United States speeds up lunar nuclear reactor project amid international competition

Nasa has launched a call for tenders for a nuclear reactor on the Moon by 2030, aiming to support American ambitions for a permanent base, despite budget uncertainties and mounting pressure from China and Russia.
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OPEC+ Accelerates Production Hikes Amid Shifting Oil Market Dynamics
Eight OPEC+ countries boost output by 547,000 barrels per day in September, completing their increase program twelve months early as Chinese demand plateaus.
India rejects Trump’s tariff threats over Russian oil purchases
New Delhi calls US sanctions unjustified and denounces double standard as Trump threatens to substantially increase tariffs.

Explosions near Zaporizhzhia nuclear power plant rekindle security concerns

Explosions were heard near the Zaporizhzhia nuclear power plant, still under Russian military control, raising fresh concerns over the safety of the site and the Ukrainian energy sector.
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Tanzania and Russia launch a $1.2bn uranium plant in Namtumbo
Tanzania, together with Russia, is starting construction of a uranium plant in Namtumbo for $1.2bn, aiming to boost mining revenues and secure a place in the global nuclear industry.
Indian Oil Corp acquires 7 mn barrels from the United States, Canada and the United Arab Emirates
Faced with falling discounts on Russian oil, Indian Oil Corp is purchasing large volumes from the United States, Canada and Abu Dhabi for September, shifting its usual sourcing strategy.
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