Energy
153 storiesSouth Korea freezes fuel price caps for four more weeks despite $100-plus oil
South Korea's Ministry of Trade and Industry (산업통상부) said on October 16 that the 11th round of petroleum price caps, applying for four weeks from midnight on October 17, will stay at the 10th-round level: 1,784 won per litre for gasoline, 1…
Novak puts Russia's domestic gasoline shortage at about 5%, says situation is improving
Deputy Prime Minister Alexander Novak said on 16 October that a partial gasoline shortage of about 5% remains on Russia's domestic market. He said the situation is still tense but has improved over the last few weeks, with imports covering …
SOCAR says Azerbaijan wants to buy gas from Gazprom again, gives no volumes or timing
Azerbaijan's state oil company SOCAR intends to resume buying gas from Russia's Gazprom, SOCAR vice-president Elshad Nasirov (Эльшад Насиров) said at Russian Energy Week on October 16. He said there was as yet nothing concrete on possible v…
Brent crude reaches $110 a barrel, highest since 20 May, amid diesel deal doubts
Brent crude rose to $110 a barrel for the first time since 20 May, Kommersant and TASS reported on 16 October. RBC linked the rise to growing doubts about the diesel deal, and Kommersant said a US Democratic House member's move to block the…
Novak says first Russian diesel deliveries to US need at least two to three weeks
Russia's first diesel deliveries to the United States are possible in at least two to three weeks, Deputy Prime Minister Alexander Novak said on October 15. He said contracts, loading and vessel chartering still had to be arranged, although…
Japan begins nuclear-waste site literature survey in Hitachiomiya
NUMO began a literature survey in Hitachiomiya, Ibaraki Prefecture, on October 15 as the first stage of selecting a high-level radioactive waste disposal site. It is Japan's fifth such survey and the first on Honshu.
Trump says large-scale oil, gas and mineral exploration will begin in Greenland
US President Donald Trump said on October 14 that large-scale oil, gas and mineral exploration would soon begin in Greenland. He did not provide specific details of the exploration plan.
Novak says Russia needs gasoline imports through at least year-end
Russian Deputy Prime Minister Alexander Novak said Russia would continue importing gasoline through at least the end of 2026 to supply the domestic market and rebuild stocks. He also said the first diesel shipment to the United States would…
US repeats South Korea Alaska LNG investment claim as Seoul keeps review open
The White House said South Korea would invest $54 billion in Alaska LNG, while Seoul says it has not decided whether to participate. Trump also claimed Taiwan would invest $4.4 billion; Taiwanese officials described purchase and investment …
South Korea approves reactor accident plans, defers Kori 3 and 4 extension decision
South Korea's nuclear regulator approved accident-management plans for Kori units 3 and 4 and Hanbit units 1 and 2 on October 15. It separately began reviewing continued operation of Kori 3 and 4 but requested more information before decidi…
Russia to keep importing gasoline through at least end of 2026, Novak says
Russian companies will continue importing gasoline through at least the end of 2026, Deputy Prime Minister Alexander Novak said. Imports account for about 10% of domestic consumption and are intended both to supply the market and rebuild st…
SK and other South Korean firms consider joint Westinghouse stake investment
SK Group is considering an equity investment in U.S. nuclear company Westinghouse alongside other South Korean firms, local outlets reported on October 14. The proposed consortium would support a government-backed plan to acquire a 5–10% st…
Russia considers LPG export ban for non-producers through end of 2026
Russia is considering banning liquefied petroleum gas exports by non-producers through the end of 2026, Deputy Prime Minister Alexander Novak said. No decision has been made, and the Energy Ministry is examining the option.
Russia forecasts coal-sector loss of 324 billion roubles in 2026
Russia's Energy Ministry estimates coal companies will record a loss of 324 billion roubles in 2026, according to reports from Russian Energy Week on October 15. Deputy Energy Minister Dmitry Islamov said losses could fall to 100 billion ro…
Peskov declines to name other potential buyers of Russian diesel
Kremlin spokesman Dmitry Peskov declined on October 15 to identify countries other than the United States interested in buying Russian diesel. He said it was not appropriate to discuss those countries publicly.
Novak says Russian firms ready for diesel exports as contract talks continue
Russian Deputy Prime Minister Alexander Novak said on October 15 that oil companies were ready to ship diesel immediately, but commercial contract talks were continuing. He said arranging contracts, loading fuel and chartering a vessel woul…
Trump says Putin agreed to supply Russian diesel as US Treasury eases sanctions
President Donald Trump said on Friday that, after a discussion with Vladimir Putin, Russia will immediately supply over 300,000 tons of diesel to the American and global market, another 500,000 tons in November and 1,000,000 tons thereafter…
Trump announces Russian diesel supply deal; US temporarily eases restrictions
Donald Trump said he agreed with Vladimir Putin to bring Russian diesel to US and world markets, beginning with more than 300,000 tonnes immediately. Korean outlets reported that the US Treasury temporarily authorised Russian diesel transac…
Analysts doubt Trump's Russian diesel deal will bring significant price relief
Energy analysts say President Donald Trump's deal for Russian diesel is unlikely to significantly lower U.S. fuel prices before the November midterm elections. The White House disputed that assessment, saying additional diesel on global mar…
Trump says Russia agreed to supply diesel as US Treasury temporarily eases sanctions
US President Trump said on social media on 9 October that, after talks with Russian President Putin, Russia agreed to immediately supply more than 300,000 tonnes of diesel to the US and international markets. The US Treasury said it would t…