Fervo Energy

Kazakhstan has signed an agreement with Nukem Technologies Engineering Services GmbH to benefit from German expertise in nuclear decommissioning and radioactive waste management.
Backed by an ambitious public investment plan, Angola is betting on gas to offset declining oil output, but the Angola LNG plant in Soyo continues to face operational constraints.

European court annuls EU approval of state aid for Hungary’s Paks II nuclear project

The European Court of Justice annulled the European Commission's authorisation of Hungarian state aid for the Paks II nuclear project, questioning compliance with EU public procurement rules.
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Donald Trump threatens to escalate US sanctions against Russia, but only if NATO member states stop all Russian oil imports, which remain active via certain pipelines.
The US government has requested the judicial cancellation of the federal permit granted in 2024 for an offshore wind project, citing impacts on commercial fishing and maritime rescue operations.

Drone strikes major Bachneft refinery in Ufa, fire breaks out

A drone attack on a Bachneft oil facility in Ufa sparked a fire with no casualties, temporarily disrupting activity at one of Russia’s largest refineries.
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The divide between the United States and the European Union over regulations on Russian oil exports to India is causing a drop in scheduled deliveries, as negotiation margins tighten between buyers and sellers.
Finnish President Alexander Stubb denounced fossil fuel imports from Russia by Hungary and Slovakia as the EU prepares its 19th sanctions package against Moscow.

A CNY4.2bn contract awarded for China’s Xuwei nuclear project

A Chinese consortium has secured a CNY4.2bn ($594mn) contract for the construction of conventional islands for the Xuwei nuclear project, combining third and fourth generation reactors.
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Japanese giant JERA has signed a letter of intent to purchase one million tonnes of LNG per year from Alaska, as part of a strategic energy agreement with the United States.
Rosatom and China National Nuclear Corporation signed a memorandum of understanding to strengthen bilateral cooperation in talent development and skills training in the nuclear sector.

Brazil invests to connect Roraima to its national power grid

Roraima, the last state not connected to Brazil’s national grid, has been linked through a publicly funded project launched over 14 years ago.
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Against market expectations, US commercial crude reserves surged due to a sharp drop in exports, only slightly affecting international prices.
Hull Street Energy has signed an agreement to acquire thirteen hydroelectric dams from Consumers Energy, totalling 132 MW, further consolidating its position in the North American hydro sector.

Madison Energy Infrastructure raises $800mn to support large-scale projects

US-based Madison secures $800mn debt facility to finance energy infrastructure projects and address rising grid demand across the country.
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Solar and storage accounted for 82% of new U.S. power capacity in early 2025, despite federal measures slowing their expansion.
The announced merger between Anglo American and Teck forms Anglo Teck, a new copper-focused leader structured for growth, with a no-premium share structure and a $4.5bn special dividend.

Chevron and HelleniQ Energy submit joint bid for four gas blocks off Crete

US-based Chevron has submitted a bid with HelleniQ Energy to explore four offshore blocks south of Crete, marking a new strategic step in gas exploration in the Eastern Mediterranean.
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Statkraft France won a 15.5 MWc solar project in Mourmelon-le-Grand during the latest national tender round, bringing its total awarded capacity to nearly 70 MWc in less than a year.
GTT has been selected by Samsung Heavy Industries to design cryogenic tanks for a floating natural gas liquefaction unit, scheduled for deployment at an offshore site in Africa.
Taiwan accuses China of illegally installing twelve oil structures in the South China Sea, fuelling tensions over disputed territorial sovereignty.
Chevron has reached a preliminary agreement with Angola’s national hydrocarbons agency to explore block 33/24, located in deep waters near already productive zones.

Indian imports of Russian oil rise 15% in first half of 2025

India increased its purchases of Russian oil and petroleum products by 15% over six months, despite new US trade sanctions targeting these transactions.
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Indonesia will finalise a free trade agreement with the Eurasian Economic Union by year-end, paving the way for expanded energy projects with Russia, including refining and natural gas.
Diamondback Energy announced the sale of its 27.5% stake in EPIC Crude Holdings to Plains All American Pipeline for $500 million in cash, with a potential deferred payment of $96 million.

ReconAfrica advances drilling of Kavango West 1X well in Namibia

Reconnaissance Energy Africa continues drilling its Kavango West 1X exploration well with plans to enter the Otavi reservoir in October and reach total depth by the end of November.
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TotalEnergies has signed a production sharing agreement with South Atlantic Petroleum for two offshore exploration permits in Nigeria, covering a 2,000 square kilometre area with significant geological potential.
Nigeria’s Dangote refinery shipped 300,000 barrels of gasoline to the United States in late August, opening a new commercial route for its fuel exports.

Aramco and SOMO suspend crude supplies to India’s Nayara Energy

Saudi and Iraqi exporters halted supplies to Nayara Energy, forcing the Rosneft-controlled Indian refiner to rely solely on Russian crude in August.
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BW Offshore has been chosen by Equinor to supply the FPSO unit for Canada’s Bay du Nord project, marking a key milestone in the advancement of this deepwater oil development.
Heirs Energies doubled production at the OML 17 block in one hundred days and aims to reach 100,000 barrels per day, reinforcing its investment strategy in Nigeria’s mature oil assets.

Hungary launches pipeline with Serbia despite regional supply tensions

Budapest plans to complete a new oil link with Belgrade by 2027, despite risks of dependency on Russian flows amid ongoing strikes on infrastructure.
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TotalEnergies and its partners have received a new oil exploration permit off Pointe-Noire, strengthening their presence in Congolese waters and their strategy of optimising existing infrastructure.
India’s oil minister says Russian crude imports comply with international norms, as the United States and European Union impose new sanctions.

Strathcona Resources seeks to raise its stake in MEG Energy to 14.2%

Strathcona Resources plans to acquire an additional 5% of MEG Energy’s shares and confirms its opposition to the company’s sale to Cenovus Energy.
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Two drone strikes hit Heglig in August, disrupting the strategic Nile Blend export hub and increasing the vulnerability of Sudanese and South Sudanese oil flows.
China’s oil production has surged since 2019, driven by national companies and government support, while import dependency remains high.

US crude oil inventories fall by 2.4 million barrels

Commercial crude oil inventories fell more than expected in the United States, while gasoline demand crossed a key threshold, offering slight support to crude prices.
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The United States extends a 30-day reprieve to NIS, controlled by Gazprom, as Serbia seeks to maintain energy security amid pressure on the Russian energy sector.
With net output reaching 384.6 million barrels of oil equivalent, CNOOC Limited continues its expansion, strengthening both domestic and international capacities despite volatile crude oil prices.