Nayara Energy has spent the past four months navigating one of the most complicated sanction environments in its history, yet instead of retreating, the Rosneft-backed refiner is quietly re-wiring its entire crude-sourcing and fuel-export strategy. After EU sanctions in July forced its 400,000 b/d Vadinar refinery to slash throughput, and October’s US sanctions on Rosneft added further pressure, Nayara’s crude imports briefly collapsed to just 240,000 b/d, sourced from exclusively Russian suppliers. But by October and November, the…

The global energy and industrial sectors run on rare earth elements (REEs), a group of 17 metals indispensable for everything from EV batteries and smartphones to wind turbines and catalytic converters. While REEs are often found in small quantities, generally as trace impurities bound with similar elements, they are not exactly rare, with some like cerium more abundant than lead. However, only ~1% of rare earth elements (REE) are recycled globally due to the complexity of separating them from other materials, the low concentrations in products,…

China has launched a first-of-its-kind power generator that works with carbon dioxide instead of steam, like traditional generators in power plants. Perhaps more importantly, however, the new generator works with waste heat and boasts a much higher efficiency than existing ones at doing that. According to the company that designed it, the generator is the start of a new era, the South China Morning Post reported. Normally, thermal power generators work in one of two ways, both relying on heat to turn a turbine. In coal power plants, the burning…

The American Petroleum Institute (API) estimated that crude oil inventories in the United States saw a draw of 1.9 million barrels in the week ending November 21. Crude oil inventories gained 4.4 million barrels in the week prior. Crude oil inventories in the United States are so far showing a net gain of 7.4 million barrels for the year, according to Oilprice calculations of API data. Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) have risen by 500,000 barrels to 411.4…

The American Petroleum Institute (API) estimated that crude oil inventories in the United States saw a draw of 1.9 million barrels in the week ending November 21. Crude oil inventories gained 4.4 million barrels in the week prior. Crude oil inventories in the United States are so far showing a net gain of 7.4 million barrels for the year, according to Oilprice calculations of API data. Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) have risen by 500,000 barrels to 411.4…

For the past decade, the defining narrative of the global energy sector has been the transition of supply. Governments, utilities, and investors have focused almost exclusively on shifting generation assets from fossil fuels to renewables, retiring coal plants in favor of wind farms and solar arrays.... The narrative for the next decade, however, is currently being rewritten by a structural shift in demand that few predicted would happen this quickly: the exponential rise of the data center. As Artificial Intelligence (AI) transitions from theoretical…

On 16 November 2025, at the Seventh Consultative Meeting of the Heads of State of Central Asia, the presidents of the “C5,” the Central Asia republics of Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan, announced the Republic of Azerbaijan would join the group, now christened the “C6.” In October 2023, President Ilham Aliyev of Azerbaijan attended the Fifth Consultative Meeting of the Heads of State of Central Asia and noted, “Azerbaijan is a reliable transit country along the route to…

The recently revealed 28-point peace framework promoted by Donald Trump’s team has been presented as a pragmatic blueprint for ending the war and rebuilding Ukraine. Yet beneath the diplomatic wording sits a highly strategic energy and raw-materials design, one that risks locking Ukraine into a future defined by fossil-fuel dependency, American control over vital resources, and a European Union sidelined at precisely the moment when its leadership is most needed. This is not only a peace plan, but it is also an energy settlement disguised…

Iraq has quietly stepped in to keep one of its most important oilfields from wobbling. After two months of unpaid wages at Lukoil’s West Qurna-2, Baghdad has begun paying local staff directly, advancing December salaries to prevent a slowdown at a field that supplies roughly 0.5% of global oil and nearly a tenth of Iraq’s output—production that Iraq cannot replace from elsewhere. This is the first visible stress fracture in West Qurna-2 since Washington’s October 22 sanctions froze Lukoil’s ability to move money across…

Iraq has quietly stepped in to keep one of its most important oilfields from wobbling. After two months of unpaid wages at Lukoil’s West Qurna-2, Baghdad has begun paying local staff directly, advancing December salaries to prevent a slowdown at a field that supplies roughly 0.5% of global oil and nearly a tenth of Iraq’s output—production that Iraq cannot replace from elsewhere. This is the first visible stress fracture in West Qurna-2 since Washington’s October 22 sanctions froze Lukoil’s ability to move money across…

Iraq has quietly stepped in to keep one of its most important oilfields from wobbling. After two months of unpaid wages at Lukoil’s West Qurna-2, Baghdad has begun paying local staff directly, advancing December salaries to prevent a slowdown at a field that supplies roughly 0.5% of global oil and nearly a tenth of Iraq’s output—production that Iraq cannot replace from elsewhere. This is the first visible stress fracture in West Qurna-2 since Washington’s October 22 sanctions froze Lukoil’s ability to move money across…

The vast global effort to electrify transport and modernize power grids is driving a surging, often overlooked demand for one critical component: the humble copper alloy connector. While attention often focuses on breakthroughs in battery technology or records in renewable energy installations, a new market analysis suggests that the foundational hardware enabling these technologies is poised for significant expansion. According to a detailed market report from Allied Market Research (AMR), the copper alloy connector market is projected to nearly…

The tiny South American nation of Guyana, once one of the continent’s poorest countries, recently emerged as a top oil producer. After a swathe of high-quality discoveries in the offshore Stabroek Block, the government in Georgetown finds itself managing one of the world's largest oil booms. In roughly a decade, Guyana went from its first oil discovery to South America’s third-largest oil producer with signs of further growth ahead. This delivered a massive economic dividend for the country of less than one million, which sees it now…

The US Export-Import Bank, an independent federal agency tasked with helping to facilitate US trade, will invest $100 billion to achieve President Trump's plan to secure US and allied supply chains for critical minerals, nuclear energy, and liquefied natural gas (LNG).  Its new chair, John Jovanovic (appointed in September) told the Financial Times that the agency would finance these efforts in order to counter western reliance on China and Russia - and that the first tranche of deals will include projects in Egypt, Pakistan and Europe, adding…

Indonesia looks to unlock its upstream potential by offering more than 100 previously untapped oil and gas basins to global investors for exploration.  Southeast Asia’s biggest economy, which is also a major oil and gas producer, aims to reverse its decade-long production decline and bolster national energy security.  Indonesia targets to nearly double its oil production to 1 million barrels per day (bpd) of crude oil. Currently, Indonesia pumps about 600,000 bpd of crude.    Indonesia has developed only 20 out of…

Oil fell 2.5% on Tuesday morning following reports that Ukraine has mostly agreed to a peace deal with the U.S. European Gas Prices Chill at Lowest Levels Since May 2024- European gas prices have fallen below the €30 per MWh threshold (the equivalent of $11 per MMbtu) as the triple whammy of Russia-Ukraine peace talks, warmer weather and ample supply lowered the TTF benchmark to its lowest since May 2024.- Following a brief cold spell that brought this winter season’s first snow, temperatures across key consumption hubs are expected…

President Trump’s tariff strategy in his second term has touched almost every corner of the economy, but few sectors have felt the effects as unevenly as oil and gas. The administration has chosen not to apply tariffs to crude oil, natural gas, or refined fuel imports—yet upstream, midstream, and refining companies are still dealing with higher costs from steel, aluminum, and other essential materials. The disconnect means that the feedstock remains tariff-free, while the infrastructure needed to produce and process it is becoming more…

The future of Russia’s international oil and gas giant Lukoil’s assets remains shrouded in fog. However, it is clear that the forced dismantling of Lukoil’s empire, which is triggered by US sanctions, could be one of the most consequential energy auctions of the post-Cold War era. It is no longer merely a compliance-driven divestment; it has now been pivoted into a geopolitical contest. The latter is not only by Western majors and private equity companies, but also by Gulf sovereign investment machines, all vying for key pieces…

Oil prices extended losses early on Tuesday after news broke that Ukraine has mostly agreed to a peace deal, with “minor details” to discuss and settle.  As of 8:35a.m. ET on Tuesday, the U.S. benchmark crude futures, WTI Crude, dropped by 1.29% to further slip below $60 per barrel, at $58.08. The international benchmark, Brent Crude, was trading down by 1.23% at $62.59.  Prices reacted to reports early on Tuesday that the U.S. plan for peace in Ukraine has received support from Ukrainians. The development added to persistent…

Shell is boosting its cooperation with Ferrari by signing a ten-year corporate power purchase agreement (CPPA) to supply renewable energy from a Shell-built and operated plant to the iconic Italian luxury carmaker.  Shell Energy Italia will provide 650 gigawatt-hours (GWh) over ten years to help decarbonize production at Ferrari’s Maranello factory in Italy. The power supplied by Shell’s Italian unit will be sufficient to cover half of Maranello’s energy needs.  Additionally, Shell Energy Italia will also provide renewable…