Europe

LSEG and traders' data show that Russia will deliver 750,000 barrels (or 100,000 metric tonnes) of a mixture of Arctic heavy ARCO and gas condensate - a type light oil - to Syria's Banias Port. Russia has considered Syria a major gateway for its military and trade operations in the Middle East. Western sanctions are affecting the sale of both Russian gas and oil condensate on international markets. In October, Russian and Syrian officials met in Moscow to discuss potential energy co-operation. LSEG data show that the tanker Antarktika is an Aframax vessel capable of carrying 700,000-800,000 barrels. It has...

Shipbuilders and port operators in the United States are suffering from the fallout of President Donald Trump’s campaign to eliminate the offshore wind industry. They have lost hundreds of millions in government support and seen their vessel orders disappear. Their investments worth billions of dollar's now face an uncertain future. This is an unintended result of Trump's offshore wind policy, which includes stop-work orders for large projects and permit reviews that were sparked by former president Joe Biden’s green investment policies. Trump says offshore wind is an ugly and inefficient technology which harms birds and whales. He is a strong...

Heathrow Airport in Britain reported record passenger numbers for the third quarter 2025 and said that it expects full-year numbers will surpass 2024 levels as it continues to prepare for long-term growth and invests in infrastructure. In the three-month period ending September, there were 23.4 million passengers at the airport. This includes more than 8 millions in August. The nine-month revenue for September grew by 2.0%, to 2.7 billion pounds (3.62 billion dollars), driven primarily by the strong demand for long-haul flights and an increase in premium services. The adjusted earnings before interest tax, depreciation, and amortisation dropped 0.2% to...

The National Crisis Management Centre reported that Lithuanian flights resumed at Vilnius Airport on Wednesday after being suspended overnight due to balloons smuggled into the airspace of the capital. The helium balloons that drifted toward the airport on Tuesday evening affected 30 flights and over 4,000 passengers. Lithuania closed both border crossings with Belarus following the incident. It was the second time in a month that contraband cigarettes from Belarus, which borders Lithuania is transported by balloons. Vilnius is 30 km away. In recent weeks, drone sightings have caused chaos at European airports including those in Copenhagen, Munich, and the...

Three people with knowledge of the matter said that a standoff over port charges paid to Trinidad and Tobago National Gas Company by producers of ammonia and methanol is threatening the sales of products from one the world's largest producers. Nutrien announced on Tuesday that it would temporarily close its Caribbean plant due to "port access restrictions" placed by Trinidad's National Energy Company (a subsidiary of NGC). Nutrien informed its employees, in an internal memo seen by the. Nutrien told employees in an internal note that was seen by the. Sources say that more plant closures may occur in the...

The National Crisis Management Centre of Lithuania (NCMC) issued a press release late Tuesday evening stating that the suspension of air traffic was due to the presence of balloons belonging to smugglers in Lithuania's airspace. In recent weeks, drone sightings have caused chaos at European airports including Copenhagen, Munich, and the Baltic area. In a statement, the NCMC stated that "operations have been disrupted because weather balloons were used to smuggle cigarette from Belarus." Passengers are asked to adhere to official airport instructions. The operator of the Vilnius airport said that eight incoming flights had been redirected so far, including...

Azerbaijan has lifted all restrictions on cargo transit into Armenia, President Ilham Alyev announced on Tuesday. This is a sign that relations between the two countries are warming after nearly four decades of conflict. Aliyev informed Kazakh President Kassym Jomart Tokayev during a meeting held in Astana, that the shipment of grain from Kazakhstan via Azerbaijan was the first of its kind since the transit was stopped in the last years of the Soviet Union when the war broke out between both neighbours. Azerbaijani media quoted Aliyev as saying, "I believe this is also a sign that peace between Azerbaijan...

According to LSEG data and industry sources, the Russian company Russneft delivered a first oil shipment to the newly constructed Kulevi oil refining plant in Georgia. Since 2008, Russia and Georgia did not have formal diplomatic relations. They fought over the breakaway regions South Ossetia (backed by Moscow) and Abkhazia. Tbilisi's economic ties to Russia have grown under the Georgian Dream Party, but its relations with Western nations have deteriorated dramatically. According to LSEG, and a trader the tanker Kayseri transported 105,340 metric tonnes of Siberian Light Oil grade from the Russian Black Sea Port of Novorossiisk, to the Kulevi...

Officials said that a Russian attack on energy infrastructure in Ukraine's Chernihiv Region left thousands without electricity and others without water. Repairs were slowed by the threat of drone attacks. The Energy Ministry said that the northern part and regional capital of Chernihiv had no electricity. The latest of a series of Russian attacks on the Ukrainian grid in preparation for winter, the attack also targeted the nearby Sumy region. In recent weeks, Russian missile and drone attacks have ravaged the power infrastructure of Chernihiv, causing blackouts to disrupt daily life and causing blackouts. DRONES IN VICINITY GRID REPAIRS The...

According to a preliminary investigation that pointed out maintenance issues, the cable that snapped in September and caused a Lisbon railcar funicular to hurtle downhill, killing 16 passengers, was not approved for passenger transport. The Office for Air and Rail Accident Investigations in Portugal (GPIAAF), said that despite the fact that other factors may have been at play, it is still difficult to determine whether an inadequate cable was the cause of the crash. The final report of the GPIAAF is due in September. After leaving the track, the yellow tram-like vehicle, which transports people up and down steep hillsides...

Mario Draghi's eponymous Report, in which he urged the European Union (EU) to increase productivity and resilience of its economy by investing heavily, has been out for more than a full year. The EU's follow-through has been widely criticized. The region might not have to worry about this. The former president of the European Central Bank, when he presented his report on EU Competitiveness in 2024 urged the EU to continue reforms that would improve productivity. On September 16, the European Commission held a conference at a high level to assess its progress. While the Commission tried to take credit...

Longacre Square Partners, a corporate advisory firm, has formed a partnership with InvestorSight - a startup that uses artificial intelligence to analyze investor behavior during takeovers and board battles. InvestorSight is a company co-founded by Dartmouth Professor Mark DesJardine, and data scientists. It has developed the first interactive tool that models how institutional investors and mutual funds are likely to respond to different corporate situations. This tool can be used to collect advanced data including the voting patterns of investors in previous contests to determine a company's or an activist investor's vulnerability. InvestorSight, a tool interactive that allows users to...

Officials said that Russian drone and missile attacks on Ukraine resulted in the deaths of six people including two children and caused nationwide power outages. Moscow was implementing a targeted campaign against Ukraine's energy system. Timur Tkachenko of the Kyiv military administration said that debris from weapons dropped caused fires to spread in several districts. Svitlana Svitlana said that "most regions of Ukraine" were targeted. This is the second attack of this kind in the last month. It indicates a systematic campaign by the enemy, to destroy Ukraine's power sector before winter. Hrynchuk stated that Russia is now targeting also...

The company announced on Wednesday that the new high-speed railway line in Britain, HS2, will be delayed at least by four years. The latest setback in a project plagued by cost overruns since its approval in 2012. The previous government was forced to cancel the northern half between Birmingham and Manchester due to its ballooning budget two years ago. A spokesperson for HS2 Ltd said that the construction of the 18-mile (30-km) section north Birmingham would be delayed to give priority to the completion of the main London - Birmingham route. The link was built to increase capacity and catch...

Two people with knowledge of the process confirmed on Tuesday that Iberdrola Endesa Naturgy have agreed to request an extension to the Almaraz nuclear power plant's life and are working to submit a formal request for the Energy Ministry. The country's plans to shut down all its nuclear reactors in 2035 were re-ignited by a major blackout that occurred in April. According to the current plan, the phase out will begin in 2027 when the Almaraz plant (west Spain) closes its first reactor. The second reactor of the plant is scheduled to close in 2027. Three companies are the owners...

The Russian-installed management has said that the Zaporizhzhia Nuclear Power Station in southeast Ukraine will be able to receive external power by Saturday. Since September 2022, the Zaporizhzhia nuclear plant in Europe - Europe's biggest with six reactors -- has been using external power to cool down nuclear material and prevent an accident. The plant was taken over by Russia in the first weeks of the conflict with Ukraine. Both sides have accused each other of shelling the facility at different times. The plant has relied on diesel emergency generators since almost a full month, after the external power supply...

The companies, which include Chevron, Shell and others, said that they had reduced their oil and gas production at a major Kazakh field following a drone strike by Ukraine, which damaged a Russian gas processing plant that supported their operations. The Orenburg gas plant strike, which took place about 1,056 miles (1,700 km) east of Ukraine marks the first incident known in Kyiv’s campaign to disrupt Western oil majors' operations abroad. Erlan Akkenzhenov said that the Karachaganak field's daily production had been reduced by 8,500 metric tonnes (66,810 bbls) to 9,000 tons as a result of the strike. He said...

Enagas, the Spanish gas grid operator, said Tuesday that it was on track to reach its 2025 goals after turning a profit in the first nine-months of the year. The swing was due to a combination of gains from disposals, the revision upwards of the amount awarded by an arbitrator in relation to an investment in Peru and operating costs that were in line with the previous year. The company reported a profit of 262.8 million euros ($306.5 millions) compared to a net loss of 130.2 million euros in the same period 2024. This was due to a capital loss...

The fire at the main refinery of the Hungarian oil company MOL, located south of Budapest on the Danube River, has been put out. Firefighters are still on site. MTI, the state-run news agency, reported that a fire started late Monday night at a feed unit. The fire did not affect production immediately. "A fire broke out Monday night at the AV3 unit of the Danube refinery. The fire has been contained and firefighters are still on site. MOL stated in an email that the cause of the fire is still being investigated. According to MOL’s official website, the Danube...

Two industry sources said on Monday that a Ukrainian drone attack on Russia’s Orenburg Gas Plant has forced Kazakhstan to reduce its production at Karachaganak Oil and Gas Condensate Field by 25 to 30%. Kazakhstan's Energy Ministry said that Orenburg, one of the largest gas processing facilities in the world, was forced to stop importing gas from Kazakhstan following the attack. Ukraine confirmed that it had hit a gas station in the Orenburg area, located 1,700 km (1,060 mi) east of Russia's border with Ukraine. It also confirmed hitting an oil refinery, in the Samara Region. Since August, Kyiv's attacks...

Two industry sources said on Monday that a Ukrainian drone attack on Russia’s Orenburg Gas Plant has forced Kazakhstan to reduce its production at Karachaganak Oil and Gas Condensate Field by 25 to 30%. Kazakhstan's Energy Ministry said that Orenburg, one of the largest gas processing facilities in the world, was forced to stop importing gas from Kazakhstan following the attack. Ukraine confirmed that it had hit a gas station in the Orenburg area, located 1,700 km (1,060 mi) east of Russia's border with Ukraine. It also confirmed hitting an oil refinery, in the Samara Region. Since August, Kyiv's attacks...

According to LSEG data and market sources, Turkey will continue to import Russian Urals crude oil at around 288,000 barrels per day in October, unchanged from September. Two sources in Russian oil trading said that October's exports to Turkey could even exceed September's volume, as more cargoes will be confirmed in the latter part of the month. This reflects Turkey's continuing demand for Russian barrels. Donald Trump, the U.S. president, has increased pressure on India and Turkey as well as major Russian oil purchasers to reduce funding for Russia's conflict in Ukraine. He is also pushing for a ceasefire agreement....

Transneft's pipeline network is not experiencing a reduction in supplies from Russian oil companies, according to a senior Transneft executive. Deliveries this year will be on par with those of 2024. Maxim Grishanin is the first vice president of the company. He told reporters that the company had enough capacity to handle a possible rise in supply. Russia will increase its output to meet the demands of the Organization of Petroleum Exporting Countries (OPEC) and its allies. Transneft transports over 80% of the oil produced by the country. Grishanin stated that Transneft had a growing cash deficit due to an...

Tenaga Nasional Bhd's (TNB) chief executive said that Malaysia would generate more electricity using natural gas by 2032 than it will from coal. Megat Jalaluddin, CEO of TNB, said that the demand for electricity from data centres is expected to stabilize, and the total amount of electricity used in Malaysia will likely be consistent with the projected growth rate of Malaysia's economy of 4%-4.5 percent in 2026. The investment in data centres has stabilized. Jalaluddin stated that the data centre investment is currently growing steadily. Malaysia has been compelled to increase its coal-fired energy output in recent months and import...