In view of a steady global economic outlook and current healthy market fundamentals, as reflected in the low oil inventories, and in accordance with the decision agreed upon on 5 December 2024 to start a gradual and flexible return of the 2.2 million barrels per day voluntary adjustments starting from 1 April 2025, the eight participating countries will implement a production adjustment of 411 thousand barrels per day in July 2025 from June 2025 required production level.

Gazprom launched supplies via the Power of Siberia pipeline in 2019 under a long-term agreement between Gazprom and China National Petroleum Corporation (CNPC), and supplies have been exceeding annual contractual obligations every year since 2020.

Türkiye is the only transit route left for Russian gas to Europe after Ukraine chose not to extend a five-year transit deal with Moscow when it expired on January 1.

“It’s time to stop this Brussels plan to support Ukraine while increasing the utility bills of Hungarian families several times over,”

Russia’s nuclear industry today is a powerful complex of more than 580 enterprises located throughout the country – from Kaliningrad to Kamchatka.

The Indonesian government has also announced plans to build a 250 MWe on-grid nuclear power facility, initially targeted for operation by 2032 but now being fast-tracked for completion by 2029.

Brent rose 25 cents, or 0.4%, to $64.34 a barrel, WTI gained 24 cents, or 0.4%, at $61.13 a barrel.

The European Commission will next month propose legal measures to phase out the EU's imports of all Russian gas and liquefied natural gas by the end of 2027, the EU executive said earlier in May.

The prospective deal would be the first of its kind between the countries and continues the expansion of Russia's reach in global energy markets and LNG competition with the United States.

Rosatom currently supplies 100% of enriched uranium for the Angra NPP and provides the Brazilian market with medical isotopes for cancer diagnosis and treatment,