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Brazil’s state oil company will reduce its capital spending by 2%, hit by falling crude prices, marking a strategic shift under Lula’s presidency.
TotalEnergies has finalised the sale of its 12.5% stake in Nigeria’s offshore Bonga oilfield for $510mn, boosting Shell and Eni’s positions in the strategic deepwater production site.

Asian Development Bank opens nuclear energy financing to developing countries

Asian Development Bank has amended its energy policy to enable funding for civil nuclear projects in developing member countries across the Asia-Pacific region.
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Norway plans up to $740mn to fund verified emission reductions, supporting Senegal’s entry into cooperation frameworks under the Paris Agreement.
British International Investment and FirstRand partner to finance the decarbonisation of African companies through a facility focused on supporting high-emission sectors.

Ghana restructures its power sector around domestic gas to contain deficit

The Ghanaian government is implementing a reform of its energy system focused on increasing the use of local natural gas, aiming to reduce electricity production costs and limit the sector's financial imbalance.
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EDP has launched operations of a rooftop solar plant at Johnson Electric’s site in Asti, targeting an annual output of 400 MWh to strengthen the manufacturer’s energy autonomy and stabilise electricity costs.
Serbia is preparing a budget law amendment to enable the takeover of NIS, a refinery under US sanctions and owned by Russian groups, to avoid an imminent energy shutdown.

Hydro to close five European extrusion sites to strengthen competitiveness

Norsk Hydro plans to shut down five extrusion plants in Europe in 2026, impacting 730 employees, as part of a restructuring aimed at improving profitability in a pressured market.
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Tokyo Gas has signed a 20-year agreement with US-based Venture Global to purchase one million tonnes per year of liquefied natural gas starting in 2030, reinforcing energy flows between Japan and the United States.
Budapest moves to secure Serbian oil supply, threatened by Croatia’s suspension of crude flows following US sanctions on the Russian-controlled NIS refinery.

RWE and Apollo commit €3.2bn to Amprion and anchor their grid strategy

A joint vehicle between RWE and Apollo injects €3.2bn into the 25.1% stake in Amprion to support a €36.4bn investment plan in German power grids by 2029, consolidating a hybrid public-private model.
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Venture Global accuses Shell of deliberately harming its operations over three years amid a conflict over spot market liquefied natural gas sales outside long-term contracts.
The City of Paris has awarded Dalkia the concession for its urban heating network, a €15bn contract, ousting long-time operator Engie after a five-year process.

Suriname targets 220,000 barrels per day in oil strategy by 2028

On the 50th anniversary of its independence, Suriname announced a national roadmap including major public investment to develop its offshore oil reserves.
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TotalEnergies ends operations of its Le Havre floating LNG terminal, installed after the 2022 energy crisis, due to its complete inactivity since August 2024.
BrightHy Solutions, a subsidiary of Fusion Fuel, has signed a €1.7mn contract to supply a hydrogen refuelling station and electrolyser to a construction company operating in Southern Europe.

Golar LNG refinances FLNG Gimi with $1.2bn seven-year bank loan

Golar LNG has completed a $1.2bn refinancing for its floating LNG unit Gimi, securing extended financing terms and releasing net liquidity to strengthen its position in the liquefied natural gas market.
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PowerField increased its operational capacity to 300 MWp by integrating seven new solar parks, developed or acquired before construction, across four Dutch provinces.
Nigeria’s Dangote refinery selects US-based Honeywell to supply technology that will double its crude processing capacity and expand its petrochemical output.
Donald Trump says he secured Narendra Modi’s commitment to end Russian oil imports, adding political pressure to India-Russia trade relations.
Under intense diplomatic pressure from Washington, member states of the International Maritime Organization agreed to postpone by one year the adoption of a carbon pricing mechanism for global maritime transport.

Trump authorises CIA covert operations targeting Venezuela

Washington confirms it has mandated the CIA to carry out secret actions against Nicolas Maduro’s government, escalating tensions between the United States and Venezuela amid geostrategic and energy stakes.
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Two European Parliament committees propose to advance the full halt of Russian hydrocarbon imports to 2026 and 2027, including oil, gas, and LNG, strengthening the European Union’s geopolitical position.
The COP30 conference hosted in the Amazon by Brazil faces low participation from global leaders, amid geopolitical tensions and major logistical challenges.

Washington authorises Trinidad and Tobago to explore Dragon gas field with Caracas

The United States has granted Trinidad and Tobago a special licence to resume negotiations with Venezuela on the Dragon gas field, partially lifting restrictions imposed on the Venezuelan energy sector.
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Ambassadors of European Union member states have approved the transmission of a legislative proposal to phase out Russian fossil fuel imports by January 2028 to the Council of Ministers.
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.

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.
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Al-Harfi and SCLCO signed agreements with Syrian authorities to develop solar and wind capacity, amid an ongoing energy rapprochement between Riyadh and Damascus.
Faced with risks to Middle Eastern supply chains, Thai and Japanese refiners are turning to US crude, backed by tariff incentives and strategies aligned with ongoing bilateral trade discussions.

Macron urges Europe to act against Russian shadow fleet after offshore seizure

France intercepted a tanker linked to Russian exports, prompting Emmanuel Macron to call for a coordinated European response to hinder vessels bypassing oil sanctions.
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The activation of the snapback mechanism reinstates all UN sanctions on Iran, directly affecting the defence, financial and maritime trade sectors.
Commissioner Dan Jørgensen visits Greenland to expand energy ties with the European Union, amid plans to double EU funding for the 2028–2034 period.

European and Iranian ministers meet in New York to avoid return of sanctions

European and Iranian foreign ministers meet in New York to try to prevent the reinstatement of UN sanctions linked to Tehran’s nuclear programme.
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Canadian Prime Minister Mark Carney announces a bilateral agreement with Mexico including targeted investments in energy corridors, logistics infrastructure and cross-border security.
The US president has called for an immediate end to Russian oil imports by NATO countries, denouncing a strategic contradiction as sanctions against Moscow are being considered.

Iran withdraws nuclear resolution under US financial pressure

Tehran withdrew a resolution denouncing attacks on its nuclear facilities, citing US pressure on IAEA members who feared suspension of Washington’s voluntary contributions.
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Poland’s energy minister calls on European Union member states to collectively commit to halting Russian oil purchases within two years, citing increasing geopolitical risks.
Athens and Tripoli engage in a negotiation process to define their exclusive economic zones in the Mediterranean, amid geopolitical tensions and underwater energy stakes.