Europe

Hungary's Orban says U.S. intervention in Venezuela good for energy markets

U.S. President Donald Trump, Orban's ally, who has exempted Hungary from U.S. sanctions on Russian energy for the 2026 Hungarian election year, has made clear that he wants to share in Venezuela's oil riches.

Norway's new car sales were 96% electric in 2025

India asks refiners for weekly Russian oil import data as it seeks U.S. trade deal

India became the biggest buyer of discounted Russian seaborne crude following the 2022 outbreak of the Ukraine war. But those purchases have fueled a backlash from Western nations, which have targeted Russia's energy sector with sanctions, arguing that oil revenues help fund Moscow's war effort.

Serbia's NIS gets U.S. approval to resume production in its refinery

The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) imposed sanctions on NIS in October as part of broader measures against Russia's energy sector after granting a series of waivers since January.

ARA gasoline stocks increase 15%

Gasoline stocks independently held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose by 15% on the week to their highest in eight months.

Ukrainian drone attack sparks fire, damages equipment at Tuapse refinery

Tuapse in the Krasnodar region lies in southwest Russia on the Black Sea and about 350 km (218 mi) to the nearest parts of Ukraine’s mainland across the Sea of Azov.

INA nears completion of €700-MM Rijeka refinery upgrade project

Repsol surpasses 1,500 service stations in Spain and Portugal offering 100% renewable Nexa Diesel

Five energy market trends to track in 2026, the year of the glut

This past year was a wild one for the oil and gas industry, punctuated by the 12-day Israel-Iran war in June, U.S. President Donald Trump's trade wars, the intensified targeting of energy infrastructure in Russia in its war against Ukraine, OPEC’s often perplexing production decisions and the recently threatened U.S. blockade of Venezuela.

Serbia's NIS gets U.S. approval to negotiate sale of Russian stake

The U.S. Treasury Department's Office of Foreign Assets Control imposed sanctions on NIS in October, as part of broader measures against Russia's energy sector, after granting a series of waivers since January.