Ukrainian negotiators were set to meet with European officials in Brussels, and later US officials in Florida, days after a five-hour Kremlin meeting with a visiting White House delegation where President Vladimir Putin doubled down on his hard-line conditions to end the war on Ukraine. Ahead of the December 4 meetings, Putin repeated longstanding and unbending demands on Ukraine’s sovereignty and military force in an interview with India Today. "It all comes down to this: Either we liberate these territories by force or Ukrainian troops…

As concerns mount about looming heating and electricity shortages in Kyrgyzstan this winter, Kazakhstan and Uzbekistan have pledged to help Bishkek avert a crisis. Fears about shortages stem from extremely low water levels in the Toktogul reservoir, a major source of hydropower in Central Asia, as well as for water used by downstream states for irrigation during the summer.  Top-level government officials from all three states signed an agreement in late November in Almaty, under which Kyrgyzstan agreed to minimize…

Edison will launch next year renewable power projects worth more than $700 million (600 million euros) that will add over 500 megawatts to its renewables capacity in Italy, the Italian energy group said on Thursday.  The Italian firm, part of France’s EDF Group, currently has another 250 megawatts (MW) of renewable energy projects under construction.  The new construction will launch in 2026 and, according to estimates, will employ a total of around 1,000 workers and 200 supplier companies. The new projects, most of which would…

Vår Energi confirmed on Thursday an oil discovery very close to its Goliat field in the Barents Sea, the first operating Arctic oilfield offshore Norway.Vår Energi, the top independent producer offshore Norway, encountered oil at the Goliat North exploration well, five kilometers (3 miles) north of the Goliat field. The discovery boosts the overall gross discovered resources at the so-called Goliat Ridge and could be tied back to the nearby Goliat floating production storage and offloading (FPSO) unit.  Vår Energi and its…

Back in 2016, Murban crude was introduced into the Dubai basket, along with Al-Shaheen, as a response to a lack of supply and price volatility caused by limited physical crude availability for the benchmark. Murban comes from the Murban oil field in Abu Dhabi--one of the seven emirates that form the United Arab Emirates--and is produced by the Abu Dhabi National Oil Company (ADNOC). It’s a light sweet crude with a sulphur content of 0.78% and an API gravity of 39.9 degrees. The move to include it in the basket was intended to deepen the pool…

Many of the resource-rich countries in Africa have intensified efforts to become more attractive for exploration and production (E&P) investment. Reforms in licensing rounds, production sharing contracts, and fiscal policy are improving investor returns and are set to drive $41 billion in upstream investment in 2026, the African Energy Chamber’s State of African Energy 2026 Outlook shows. From legacy oil producers Nigeria and Angola to emerging exploration hotspots such as Namibia, African resource holders are looking to compete with…

Asian imports of liquefied natural gas are set for a decline this year as prices prove too high for some importing nations, forcing them to look for alternatives, while others boost domestic supply. European imports, on the other hand, are headed for another record year as flows shift. Imports of LNG in Asia this year are on course to reach 276 million tons in total, after a strong November, at 22.99 million tons and an even stronger estimated December, when imports could reach 26.86 million tons. All this is according to data from Kpler cited…

Russia’s dependence on oil and gas revenues has long been one of the country’s greatest economic strengths. That same dependence is now becoming one of its most significant vulnerabilities. In November, Russia’s energy revenues fell sharply, underscoring how sanctions, weak crude prices, and currency dynamics are converging to squeeze Moscow’s finances at a time of elevated military spending. According to recent estimates, Russia is expected to collect roughly 520 billion rubles—about $6.6 billion—from oil and…

Notions of renewable energy and reducing greenhouse gases are nice, but costly energy prices are forcing a shift in Europe’s priorities. Reuters reported this week that two members of the European Union — Greece and Italy — and the UK are loosening their opposition to new oil and gas drilling, even as the continent builds out renewables to slash greenhouse gas emissions and meet climate targets. Greece in November issued its first offshore oil and gas exploration license in more than 40 years to a trio of companies including Exxon…

The global aluminum recycling market is set for a substantial expansion, projected to reach $91.3 billion by 2032, as industrial consumers aggressively pursue low-carbon material sources to mitigate skyrocketing energy costs and meet stringent decarbonization targets. The forecast, detailed in a new market analysis, highlights a fundamental shift in the global metal supply chain. The recycling market, valued at $57.2 billion in 2024, is expected to expand at a compound annual growth rate (CAGR) of 6.2%.  This growth is structurally linked…

Norway has temporarily halted its deep-sea mining plans by postponing the first licensing round until at least 2029, following a political agreement with the Socialist Left Party for the state budget. The four-year delay to exploration and extraction activities in Norwegian waters was achieved through budget negotiations, although the government maintains its underlying policy has not changed. The decision has been welcomed by environmental groups like the WWF and the Deep Sea Conservation Coalition as a major win for environmental protection,…

Norway has temporarily halted its deep-sea mining plans by postponing the first licensing round until at least 2029, following a political agreement with the Socialist Left Party for the state budget. The four-year delay to exploration and extraction activities in Norwegian waters was achieved through budget negotiations, although the government maintains its underlying policy has not changed. The decision has been welcomed by environmental groups like the WWF and the Deep Sea Conservation Coalition as a major win for environmental protection,…

Norway has temporarily halted its deep-sea mining plans by postponing the first licensing round until at least 2029, following a political agreement with the Socialist Left Party for the state budget. The four-year delay to exploration and extraction activities in Norwegian waters was achieved through budget negotiations, although the government maintains its underlying policy has not changed. The decision has been welcomed by environmental groups like the WWF and the Deep Sea Conservation Coalition as a major win for environmental protection,…

Energy Secretary Chris Wright has floated an unusual but very creative plan to quickly expand U.S. grid capacity: tapping the industrial diesel generators already sitting at data centers, big-box retailers, and other commercial sites. The proposal comes as multiple regional grids strain under the explosive power demand driven by the data-center boom. Leveraging these idled generators could serve as a short-term bridge until new generation comes online. Bloomberg quoted Wright on Tuesday morning at the North American Gas Forum in Washington, where…

Hungary has reported that oil flows from Russia via the key Druzhba oil pipeline have continued after it came under attack by Ukraine on December 1. According to Mol Nyrt, Hungary's main oil company, imported crude flows through the Transneft-owned pipeline have so far been unaffected. Previously, the Kyiv Independent had reported that Ukraine used remote-controlled explosives to destroy the pipeline. "The Russian oil network, as the main source of income for the aggressor state and financing for the military-industrial complex, will continue to…

Hungary has reported that oil flows from Russia via the key Druzhba oil pipeline have continued after it came under attack by Ukraine on December 1. According to Mol Nyrt, Hungary's main oil company, imported crude flows through the Transneft-owned pipeline have so far been unaffected. Previously, the Kyiv Independent had reported that Ukraine used remote-controlled explosives to destroy the pipeline. "The Russian oil network, as the main source of income for the aggressor state and financing for the military-industrial complex, will continue to…

Tajikistan is seeking Russia’s help in containing raids by Islamic militants operating out of Afghanistan. Two attacks within the past week have left five Chinese nationals working on road construction and gold mining projects in Tajik border areas dead. The Reuters news agency reported December 2 that Tajik officials are negotiating with their Russian counterparts on mounting joint patrols along the almost 850-mile-long frontier with Afghanistan. Moscow maintains military facilities housing thousands of troops in and around Dushanbe, the…

Austrian businessman Bernd Bergmair, former majority owner of Pornhub, has approached the U.S. Treasury about buying assets of Russian oil major Lukoil after the Trump administration sanctioned the company.  "Obviously Lukoil International GmbH would be a great investment and anybody would be fortunate to have the privilege of owning those assets,” Bergmair told Reuters. "I don’t comment on potential investments as a matter of course," he added. Last month, U.S. Treasury issued the greenlight for companies to begin talks with Lukoil…

The Vaca Muerta shale play in southern Argentina continues delivering strong production growth. In a mere decade, shale oil and gas production have regularly soared to all-time highs, boosting Argentina’s hydrocarbon output to new records. Even waning output from the Latin American country’s aging conventional oil fields has had little impact on overall production volumes, with growing unconventional hydrocarbon output filling the gap. October 2025’s numbers, like the month prior, reflect those trends and the rising outsized contribution…

Austrian businessman Bernd Bergmair, former majority owner of Pornhub, has approached the U.S. Treasury about buying assets of Russian oil major Lukoil after the Trump administration sanctioned the company.  "Obviously Lukoil International GmbH would be a great investment and anybody would be fortunate to have the privilege of owning those assets,” Bergmair told Reuters. "I don’t comment on potential investments as a matter of course," he added. Last month, U.S. Treasury issued the greenlight for companies to begin talks with Lukoil…