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US has not eased sanctions on Russian oil, energy secretary says
The US has not relaxed existing sanctions on Russian crude oil, with recent exemptions applying only to diesel supplies.
Russia's diesel production capacity double domestic demand, Novak says
Russia has sufficient diesel production capacity to meet domestic demand and maintain exports despite ongoing refinery disruptions caused partly by Ukrainian drone attacks.
Russia considers LPG export ban to ease domestic fuel shortages
Russia is considering banning exports of LPG by non-producers until the end of 2026, as the government seeks to bolster domestic fuel supplies amid continued refinery disruptions.
Russia’s RusGazDobycha transfers 49% stake in HMS Group to CEO
Hydromash MSK, a company established by Molchanov in April 2026, acquired the stake in Hydroindustria on October 14.
Russia expects Power of Siberia gas exports to China to reach 39 bcm in 2026
Russia expects to deliver 39 bcm of natural gas to China through the Power of Siberia pipeline in 2026.
US urges Europe to resume Russian gas imports as part of Ukraine peace deal
The US administration has proposed that European countries resume large-scale imports of Russian natural gas as part of a potential agreement to end the war in Ukraine.
Algeria plans $71.6bn in hydrocarbons investment through 2030
Russia prepares tax incentives as hard-to-recover oil reaches 63% of production
Russia is preparing new tax incentives to stimulate the development of hard-to-recover oil and gas reserves, which are becoming increasingly important to maintaining domestic hydrocarbon production.
US extends sanctions exemptions for Lukoil's overseas assets until April 2027
The US has extended sanctions exemptions allowing Lukoil to continue operating its overseas fuel retail network and Bulgarian refining assets until April 24, 2027.
Iran’s KOGC says it beat first-half output pledge
The state-owned Karun Oil and Gas Operating Co. (KOGC) met more than 100% of its oil production commitments in the first half of the Persian calendar year, its chief executive said, but gave no figures for its target or actual output.
EU weighs strategic gas reserves as storage crisis exposes market weaknesses
Brussels is considering strategic gas reserves as low storage levels and disrupted LNG supplies expose Europe's vulnerability to future energy crises.
EU gas storage hits record mid-October low ahead of winter
EU gas storage facilities were just 74.1% full in mid-October, their lowest level for this time of year since records began in 2011.
Ukrainian drone strike reportedly hits Gazprom condensate plant in Western Siberia
A Ukrainian drone attack sparked a fire at an industrial facility near Surgut in Russia's Khanty-Mansiysk region on October 16, with independent reports identifying the target as a major Gazprom gas condensate processing plant.
Russia, Indonesia discuss Northern Sea Route trial voyage in 2027
Russia and Indonesia are discussing a pilot shipment along the Northern Sea Route (NSR) in 2027, as Moscow seeks to attract more Asian cargoes to the Arctic shipping corridor.
Netherlands commits over €1bn to gas storage amid rising import dependence
The Dutch government has earmarked more than €1bn ($1.1bn) in subsidies and established a credit facility worth approximately €21bn to support the filling of natural gas storage facilities in 2027.
Trump puts sweeping Russia sanctions on hold as energy crisis takes priority
Trump has suspended sweeping new sanctions against Russia as soaring energy prices increasingly take precedence over efforts to pressure Moscow.
Russia extends refinery modernisation deadlines amid Ukrainian drone attacks
Russia has extended the deadline for oil refinery modernisation agreements by one year to July 1, 2027, as Ukrainian attacks continue to disrupt the country's refining industry and force operators to prioritise repairs over upgrading facilities.
Ukrainian drone attack sets St Petersburg oil terminal ablaze
A large-scale Ukrainian drone attack on St Petersburg and the surrounding Leningrad region on October 18 sparked fires at a major oil export terminal and storage depot.
Greenpeace protest halts work at Australia's Scarborough gas project
Australia’s Woodside Energy has suspended activities at a floating production unit serving its $12.5bn Scarborough gas project off Western Australia after four Greenpeace activists occupied the facility.
First downhole pump well brought online at Iran’s Azadegan oilfield
Iran has brought the first well equipped with an electric submersible pump (ESP) into production at the shared Azadegan oilfield in the oil-rich Khuzestan province in the southwest.
US leaves Citgo ownership dispute unresolved as appeal proceeds
The legal battle over Citgo’s future is continuing without a clear signal from Washington, as the US government has declined to take a position on an appeal involving the Venezuelan-owned refiner’s proposed $5.9bn sale
Machado criticises Trump-backed oil partner as she seeks return to Venezuela
Venezuelan opposition leader María Corina Machado challenged Washington’s oil strategy in Venezuela, accusing businessman Alejandro Betancourt of “obscene corruption”
Kuwait studies twin pipeline routes to bypass Hormuz
Kuwait is weighing two cross-border crude pipeline projects through Saudi Arabia and the UAE to secure export outlets beyond the Strait of Hormuz
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