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Romania moves to terminate talks with Chinese partner in nuke project
Bucharest asked Nuclearelectrica to terminate talks with CGN on expanding Cernavoda nuclear power plant, as discussions yielded no results in seven years.
Green energy companies reach a compromise with the Ukrainian government to avert an energy crisis this summer
Green energy investors into Ukraine have struck a compromise deal with the government, which wants to drastically cut the green energy tariffs retroactively, sparking a mass protest by Ukraine’s most significant direct foreign investors
Turkey to build gas pipeline to supply Nakhchivan
The move would sideline Iranian gas sales to the Azerbaijani exclave and help Ankara get back in Washington’s good graces.
Is Libya the new Syria?
In brazen move, Russia flies squads of fighter jets to desert airfields after Moscow-allied rebel commander is pushed back by Turkish-backed forces in civil war. US now worried Kremlin might shape the conflict.
Ukraine’s green energy disaster is sliding towards a power crisis
Ukraine is heading towards a power crisis in the next few weeks if the government cannot come to terms with the irate owners of the country’s burgeoning green energy sector
Once-in-a-1,000-year snow melt floods hydropower plant on Russia’s far northern coast
There were more melting permafrost problems for Russia’s energy infrastructure after the TGK1 power station near Murmansk reported that two of its hydropower units were flooded with “abnormal water inflow” due to melting snow.
Kazakhstan’s wealth fund sells 6.3% stake in world’s biggest uranium miner Kazatomprom
Privatisation programme of Central Asia’s biggest economy takes another baby step.
Russian fuel spill declared federal emergency
The Kremlin has declared a spill of diesel fuel at the power plant of Norilsk Nickel metals major in the Krasnoyarsk region as a federal emergency, and heads may start rolling as deep structural ESG dangers are exposed.
Turkey’s electricity consumption collapses 17% in May
Some analysts see indicator as more reliable than GDP, industrial output and PMI data when it comes to assessing extent of industrial activity in country.
Malta seizes $1.1bn worth of “counterfeit” Libyan dinars printed by Russian state-owned company
The US State Department has announced that Malta seized $1.1bn worth of “counterfeit” Libyan dinars that were travelling by ship to the Libyan parallel government and were printed by the Russian state-owned company Goznak.
Trump Towers Istanbul partner ‘lobbied White House for vast expansion of US-Turkey trade’
News service uses documents deposited by PR firm to reveal Mehmet Ali Yalcindag’s activities. Now head of Turkey-US Business Council, the businessman, once called a “close friend” by Donald Trump, is pushing to build up agriculture and LNG shipments.
Hardline daily celebrates Venezuela arrival of Iranian fuel tankers as “humiliation for America”
Czech utility CEZ to expand nuclear plant with state support
New block at the Dukovany nuclear power plant is expected to come online in 2036.
US pulls waivers on civilian nuclear cooperation with Iran
Move means Washington has scrapped last remnants of 2015 nuclear deal that it was tolerating. Tehran says move is “desperate” and designed to distract from the failure of the Trump administration’s policy on the Islamic Republic.
For first time Turkey’s LNG imports outstrip pipeline gas imports
Gas delivered via pipelines from Russia and Iran down 72% y/y and 33% y/y in March. US expanding shipments of liquefied natural gas amid glut as spot prices fall.
Polish and Baltic states’ power grid operators ask EU for €1.2bn to fund syncing of their energy systems
Romania to break nuke plant expansion agreement with Chinese partner
State-controlled nuclear energy producer Nuclearelectrica will begin talks to terminate the agreement signed with China's CGN on the construction of two new reactors at the Cernavoda.
NRG: Signs of cautious optimism
Producers and investors remain cautious, as the coronavirus pandemic continues to affect energy demand, but are starting to plan for the post-crisis period.
No intervention from US as Iranian fuel relief tanker docks in Venezuela
Venezuelan state TV airs pictures of officials celebrating arrival. Four more tankers still en route. Trump official slams “Maduro's expensive deals with another pariah state".
Russia’s leading petrochemical company Sibur raises $208mn with bonds issue at record low yields
Russia’s leading petrochemical producer Sibur Holding successfully closed the order book for its BO-01 and BO-02 exchange-traded bond issues, worth RUB10bn ($139mn) and RUB5bn ($69mn) respectively, the company announced on May 21.
US ire on horizon as Venezuelan navy told to escort Iranian tankers bringing fuel relief
White House officials loathe to see one Trump-sanctioned nation coming to the assistance of another, especially in a presidential election year.
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