January 2024

Brent frose 18 cents, or 0.2%, to $76.30 a barrel. WTI inched up 0.1%, or 6 cents, to $70.83 a barrel.

The US Treasury Department announced the steps Wednesday, including sanctions on Bellatrix Energy Ltd., a Hong Kong-based firm among the shadowy traders that emerged to help Russia keep its oil exports flowing.

Russia is eyeing the Northern Sea Route across the Arctic Ocean to supply the cargoes to the east, to cut the time and cost of bringing its fuel to market.

Russia’s Novatek PJSC, which leads the Arctic LNG 2 project, sent force majeure notices to some of the facility’s buyers,

“The concept assumes that we do not sell power units as something separate. We sell the electricity that is generated using the floating units. For the customer, this means that it does not matter where and how the unit is built. The customer does not take part in its construction. The construction, fuel loading and subsequent operation of the station is provided by Rosatom,” Nikipelov said.

France and Sweden will "promote a regulatory, industrial and financial framework favourable to the realisation of nuclear installation projects with a high level of safety and ensuring institutional support for nuclear energy in compliance with the principle of technological neutrality and with the objective of strengthening Europe's sovereignty and energy security".

South Korea’s industry ministry said it had signed a Memorandum of Understanding with the Dutch Economic Affairs ministry to support the new plant order. KHNP signed a memorandum of understanding with the Netherlands’ Economic Affairs & Climate Policy Ministry on the feasibility study.

Production will be fully ramped up at the Pinyon Plain, La Sal and Pandora mines by mid- to late-2024, by which time Energy Fuels said it expects to be producing uranium at a run-rate of 1.1 to 1.4 million pounds per year,