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Huawei receives top appraisal for its BESS safety assessment system
Huawei's full-lifecycle battery safety rating system has been officially validated by a national technical committee, marking a key milestone for large-scale energy storage deployment.
Equinix secures 500 MWe nuclear supply from Stellaria for AI data centres
Equinix has signed a strategic agreement with French start-up Stellaria to reserve 500 MWe of advanced nuclear capacity to power its future European AI data centres starting in 2035.

EBRD grants €192 mn to finance 531 MW of solar in Romania

Three photovoltaic plants will receive financing structured by the European Bank for Reconstruction and Development to strengthen Romania's electricity capacity and attract private capital to the sector.
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China braces for record winter demand amid energy strain on coal, gas and UHV networks
Faced with a climate- and geopolitically-constrained winter, Beijing announces expected record demand for electricity and gas, placing coal, LNG and UHV grids at the centre of a national energy stress test.
OPEC+ maintains output freeze for 2026 and opens quota battle for 2027
Faced with oversupply risks and Russian sanctions, OPEC+ stabilises volumes while preparing a structural redistribution of quotas by 2027, intensifying tensions between producers with unequal capacities.

Iraq launches joint investigation after drone attack on strategic Khor Mor gas site

The Iraqi government and Kurdish authorities have launched an investigation into the drone attack targeting the Khor Mor gas field, which halted production and caused widespread electricity outages.
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Kyrgyzstan bets on a Russian small modular reactor to solve its energy crisis
Bishkek plans to host a RITM-200N small modular reactor supplied by Rosatom to address electricity shortages and deepen energy ties with Moscow, despite the risks posed by Western sanctions.
UK locks in oil windfall until 2030 with 78% tax pressure
The United Kingdom is replacing its exceptional tax with a permanent price mechanism, maintaining one of the world’s highest fiscal pressures and reshaping the North Sea’s investment attractiveness for oil and gas operators.

A €15mn solar farm and organic dairy project launched in Loiret

Loiret Energie and Terres d’Energie Développement will invest €15mn in a 31.5-hectare agrivoltaic farm in La Ferté Saint-Aubin, combining electricity production and organic cattle farming.
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Waga Energy secures $180mn funding to accelerate production in the United States
Waga Energy has secured $180mn in senior debt over four years to develop its biomethane project portfolio at landfill sites in the United States.
Pakistan becomes structural fuel oil exporter, disrupting Asian market balance
Pakistan confirms its exit from domestic fuel oil with over 1.4 Mt exported in 2025, transforming its refineries into export platforms as Asia faces a structural surplus of high- and low-sulphur fuel oil.

PetroChina invests $5.43bn to integrate 11 Gm³ of strategic gas storage with PipeChina

PetroChina internalises three major gas storage sites through two joint ventures with PipeChina, representing 11 Gm³ of capacity, in a CNY40.02bn ($5.43bn) deal consolidating control over its domestic gas network.
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Japan launches FAST to build a public fusion demonstrator by 2035
The FAST project enters its engineering phase in Japan, mobilising an industrial consortium led by Starlight Engine and Kyoto Fusioneering to establish a public-private fusion sector based on the deuterium-tritium cycle.
Canadian Solar Infrastructure Fund acquires non-FIT solar asset for ¥253.5mn
Canadian Solar Infrastructure Fund makes its first acquisition outside the FIT scheme with a 1.1 MW solar plant in Tsukuba, valued at ¥253.5mn ($1.7mn), under a corporate PPA agreement.

Brazil uses money laundering case to pressure Washington

Brasília links a major tax fraud investigation to talks with Washington, combining demands for financial transparency with negotiations over U.S. access to Brazilian rare earths.
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US gasoline prices stable despite surge in holiday travel
Ahead of Thanksgiving, average gasoline prices in the US remain close to 2024 levels, supported by falling crude prices, despite a significant increase in expected road traffic.
Canada reforms Energy Efficiency Act to align policy with digital markets
The Canadian government introduces major legislative changes to the Energy Efficiency Act to support its national strategy and adapt to the realities of digital commerce.

Quebec maintains sole carbon price at the pump despite federal tax repeal

Quebec becomes the only Canadian province where a carbon price still applies directly to fuels, as Ottawa eliminated the public-facing carbon tax in April 2025.
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TEPCO could restart Kashiwazaki-Kariwa nuclear plant as early as January
The Niigata prefectural assembly will vote on the restart of Unit 6, potentially marking TEPCO’s first reactor relaunch since the 2011 Fukushima disaster.
South Africa inaugurates transmission station to integrate 900 MW of renewables
The new Vunumoya station, built for over $58mn in 18 months, marks a strategic step toward integrating 900 MW of renewable energy in the mining region of Mpumalanga.
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Equinix secures 500 MWe nuclear supply from Stellaria for AI data centres
EVE Energy signs agreement to deploy 1.48 GWh of storage in Northern Europe
Pakistan becomes structural fuel oil exporter, disrupting Asian market balance
A €15mn solar farm and organic dairy project launched in Loiret
UK locks in oil windfall until 2030 with 78% tax pressure
Chevron in advanced talks to acquire Lukoil’s international assets
The American major could take over part of Lukoil’s non-Russian portfolio, under strict oversight from the U.S. administration, following the collapse of a deal with Swiss trader Gunvor.
Lukoil shuts down 430 petrol stations in Finland under US sanctions pressure
Finnish fuel distributor Teboil, owned by Russian group Lukoil, will gradually cease operations as fuel stocks run out, following economic sanctions imposed by the United States.

Exxon to close its ethylene plant in Scotland amid market pressures

ExxonMobil will shut down its Fife chemical site in February 2026, citing high costs, weak demand and a UK regulatory environment unfavourable to industrial investment.
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Orlen acquires 7.6% of Ekofisk project as DNO reallocates assets
Polish state-owned group Orlen strengthens its North Sea presence by acquiring DNO’s stake in Ekofisk, while the Norwegian company shifts focus to fast-return projects.
Syria signs strategic oil deal with ConocoPhillips and Nova Terra Energy
The Syrian Petroleum Company has signed a memorandum of understanding with ConocoPhillips and Nova Terra Energy to develop gas fields and boost exploration amid ongoing energy shortages.

Fincraft offers revised C$1.75 per share bid to acquire Tethys Petroleum

Fincraft Group LLP, a major shareholder of Tethys Petroleum, submitted a non-binding proposal to acquire all remaining shares, offering a 106% premium over the September trading price.
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China increases crude oil stockpiles in October as prices stabilise
As global oil prices slowed, China raised its crude stockpiles in October, taking advantage of a growing gap between imports, domestic production and refinery processing.
Kuwait Petroleum Corporation secures record KWD1.5bn loan to support expansion strategy
Kuwait Petroleum Corporation has signed a syndicated financing agreement worth KWD1.5bn ($4.89bn), marking the largest ever local-currency deal arranged by Kuwaiti banks.

Benin receives offshore unit to relaunch the Sèmè oil field

The Beninese government has confirmed the availability of a mobile offshore production unit, marking an operational milestone toward resuming activity at the Sèmè oil field, dormant for more than two decades.
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Baghdad seeks to preserve oil production despite sanctions targeting Lukoil
The Iraqi Prime Minister met with the founder of Lukoil to secure continued operations at the giant West Qurna-2 oil field, in response to recent US-imposed sanctions.
Pertamina increases imports to meet gasoline demand
The sustained rise in consumption of high-octane gasoline pushes Pertamina to supplement domestic supply with new imported cargoes to stabilise stock levels.

CRR acquires 53 km of oilfield road infrastructure from Islander in Alberta

Canadian group CRR acquires a strategic 53-kilometre road network north of Slave Lake from Islander Oil & Gas to support oil development in the Clearwater region.
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Kazakhstan denies any plan to acquire Lukoil’s local assets
Kazakhstan’s energy minister dismissed any ongoing talks between the government and Lukoil regarding the potential purchase of its domestic assets, despite earlier comments from a KazMunayGas executive.
OPEC and GECF warn of structural deficit in global energy market
OPEC and the Gas Exporting Countries Forum warn that chronic underinvestment could lead to lasting supply tensions in oil and gas, as demand continues to grow.

Popular support for oil exploration rises sharply in Norway

A national barometer shows that 62% of Norwegians support maintaining the current level of hydrocarbon exploration, confirming an upward trend in a sector central to the country’s economy.
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ShaMaran delivers first “in kind” cargo to Ceyhan under new Iraqi federal framework
ShaMaran has shipped a first cargo of crude oil from Ceyhan, marking the implementation of the in-kind payment mechanism established between Baghdad, Erbil, and international oil companies following the partial resumption of exports through the Iraq–Türkiye pipeline.
TGS launches 14,800 km² seismic survey in Brazil’s Pelotas Basin
Norwegian group TGS begins Phase I of its multi-client seismic survey in the Pelotas Basin, covering 21 offshore blocks in southern Brazil, with support from industry funding.

Chandra Asri secures $750mn from KKR to acquire Exxon’s fuel stations in Singapore

Indonesian group Chandra Asri receives a $750mn tailor-made funding from KKR for the acquisition of the Esso network in Singapore, strengthening its position in the fuel retail sector.
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Tethys Petroleum increases output and returns to profit in Q3
Tethys Petroleum posted a net profit of $1.4mn in Q3 2025, driven by a 33% increase in hydrocarbon sales and rising oil output.
Belgrade accelerates on NIS: Vucic sets seven-day deadline to resolve Russian stake issue
Serbia considers emergency options to avoid the confiscation of Russian stakes in NIS, targeted by US sanctions, as President Vucic pledges a definitive decision within one week.