June 2025

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.

U.S. crude oil output rose to 13.49 million barrels per day in March, up from 13.16 million bpd in February and the prior all-time high of 13.45 million bpd in October 2024.

The DOE said its decision to terminate the 24 awards under the Office of Clean Energy Demonstrations followed a "thorough and individualized financial review" of each project.

Solar is now so cheap that large markets can emerge in the space of a single year – as evidenced in Pakistan in 2024.

The JV plans to develop the renewable projects (solar, wind, hybrid, floating solar, BESS, pumped-storage hydropower) in phases, with an initial capacity of 500 MW to ramp up to 2 GW, and to eventually scale up to 5 GW.