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Russian Lukoil declares force majeure on Iraqi oil
Lukoil, Russia’s second-largest oil company, has declared force majeure on its operations at the West Qurna-2 oil field in Iraq due to the impact of US sanctions
Water shortages reported across Iran's capital as day zero approaches
Iran's water industry spokesman says any planned water restrictions for Tehran residents will be announced in advance. Policy is to manage pressure from midnight to morning, with 10% consumption reduction target through public cooperation.
Russia unleashes massive overnight assault on Ukraine’s energy grid, crippling thermal plants and gas sites
Russia launched one of its heaviest air assaults in months overnight, striking Ukraine’s energy infrastructure with missiles and drones and causing widespread blackouts across major cities, including Kyiv and Kharkiv.
Bulgaria and Romania seek to delay sanctions against Lukoil
Sanctions imposed by US authorities on Lukoil's global operations expected to cause costly disruptions at the Russian group's local refineries.
Energy Transfer seeks equity partners for Lake Charles facility
Energy Transfer will not move ahead with a final investment decision for its Lake Charles LNG facility until at least 80% of the project has been sold to equity partners.
Japan commits to monthly LNG purchases to safeguard against supply shocks
Japan will take added measures to ensure the country is insulated from LNG supply shocks.
Iran’s oil sales hit seven-year high despite tougher US sanctions
Iran’s crude oil exports have climbed to their highest level in seven years in defiance of tightening US sanctions, maritime tracking service TankerTrackers said.
Russian oil output sees growth in October, but federal revenues crash
Russia’s crude oil output increased modestly in October even as state revenues from the oil and gas sector continued to decline sharply.
US slams “Kremlin puppet’s” Gunvor Lukoil asset deal
The US doubled down on its latest sanctions by appearing to cancel Gunvor’s deal with Russian oil major Lukoil, labelling the trader a “Kremlin puppet.”
Fitch affirms Taipower’s top credit rating amid mounting transition costs
Fitch Ratings has reaffirmed the financial strength of Taiwan Power Company (Taipower), assigning a ‘AAA(twn)’ rating to the state-owned utility’s proposed TWD16.1bn ($520mn) bond issue, underscoring the company’s vital public role.
Trump signals possible India visit amid evolving energy pivot
The US President, Donald Trump, has indicated that he may visit India next year, signalling a potential deepening of ties between Washington and New Delhi and raising questions over energy and geopolitical strategy.
Turkey arrests directors of fuel retailer TP after SOCAR complaint
Police describe around 18,500 tonnes of fuel as "missing".
Poland plans to become US gas hub to supply Slovakia and Ukraine
Poland will seek to become a regional distribution centre for American gas to supply neighbouring Slovakia and Ukraine, President Andrzej Nawrocki said while on a visit to Bratislava.
IEA pledges major role in climate finance as COP30 opens in Brazil
The International Energy Agency is taking on an expanded role in accelerating clean energy investment as global leaders gather in the Amazonian city of Belém for the COP30 climate summit.
Bulgaria moves to seize Lukoil refinery to shield it from US sanctions
Bulgaria is preparing to take control of Russian oil company Lukoil’s Burgas refinery, the country’s only oil-processing facility, to protect it from US sanctions.
Brazil unveils $125bn tropical forest fund ahead of COP30 summit
Brazil will launch a new financing mechanism to reward countries for preserving tropical forests, seeking $125bn in public and private investment, the finance ministry said ahead of the COP30 climate summit in Belém.
BP to sell US onshore midstream assets for $1.5bn
BP has agreed to sell non-controlling interests in Permian and Eagle Ford midstream assets owned by its BPX Energy unit to funds managed by Sixth Street for around $1.5bn.
Nigeria: Dangote lawsuit dismissed by court
Nigeria’s Federal High Court has dismissed a suit filed by 650,000 barrels per day (bpd) Dangote refinery in November 2024.
Nigeria's NNPCL targets 2mn bpd output, $30bn–$60bn co-investment to accelerate upstream recovery
The NNPCL said crude oil production has reached about 1.7mn barrels per day (bpd). It targets 2mn bpd by 2027 and is seeking between $30bn and $60bn in partnerships by 2030 to accelerate oil, gas, and infrastructure projects.
SABIC sees pressure on profit margins due to petchem overcapacity
Saudi Basic Industries Corp. (SABIC) CEO Abdulrahman Al-Fageeh said this week that global overcapacity in the petrochemicals industry had put pressure on profit margins, leading to reduced operating rates.
Nigeria's Ondo State announces $50bn investment framework for proposed 500,000bpd refinery, free trade zone
Ondo State signed a $50bn investment agreement with a consortium of international firms, including China Harbour Engineering Company and Honeywell OUP, to build a 500,000-bpd refinery and develop a 1,471-hectare free trade zone.
US shale players SM Energy, Civitas announce merger
Two US shale producers, SM Energy and Civitas Resources, agreed this week to an all-stock merger that will create a company worth $12.8bn, inclusive of each company’s net debt.
Panoro Energy signals stable production outlook, Dussafu offshore Gabon remains core growth driver
Panoro Energy ASA (OSE:PEN) reported stable operating performance ahead of its Q3 2025 results, with the Dussafu Marin block in Gabon continuing to anchor growth plans.
Will Trump’s Central Asia summit in Washington help break the Chinese chokehold on rare earths?
“Rare earths”. As Donald Trump on November 6 hosts Central Asia’s five presidents in Washington, DC, observers can forgive themselves if they quickly lose count of the number of times these buzzwords are uttered.
Riga Airport becomes the first climate-neutral airport in the Baltics
The airport has implemented a range of initiatives to improve energy efficiency, adopt renewable energy sources and promote sustainable transport across its operations.
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