Buenos Aires issued a two-week ultimatum to London to halt offshore drilling near the Falkland Islands, while China’s LNG imports declined for a second consecutive month. Meanwhile, Astana confirmed continued oil shipments to Germany, and experts in Yerevan cited anti-competitive collusion behind record domestic fuel prices.
Global market
Argentine President Javier Milei instructed legal teams to launch international arbitration against the UK at the International Tribunal for the Law of the Sea, demanding a suspension of the Sea Lion drilling project in the North Malvinas Basin within two weeks. In Asian energy markets, China’s LNG imports in September fell 8% year-on-year to 5.3 million tonnes, marking a second consecutive monthly decline due to high Middle East conflict prices, according to Kpler. In the Middle East, Iranian Parliament Speaker Mohammad Bagher Ghalibaf stated that Tehran cannot guarantee the safety of regional oil infrastructure. Concurrently, Brent crude rose to $107.37 per barrel, while soaring Middle East energy costs sparked a surge in residential heat pump sales across 12 European nations.
Russia & CIS
Gazprom Neft initiated Russia’s first national certification system for sustainable aviation fuel (SAF) to evaluate lifecycle carbon reduction across aviation supply chains. In energy exports, Kazakh President Kassym-Jomart Tokayev confirmed Astana’s readiness to maintain crude oil deliveries to Germany, following exports exceeding 10 million tonnes in 2025. Meanwhile, pipeline operator Transneft recorded lower H1 crude throughput due to reduced domestic refinery runs and lower Druzhba pipeline volumes. In municipal power infrastructure, Crimean authorities imposed a “two-on, six-off” rolling power outage schedule in Sevastopol due to regional electricity deficits.
Armenia
Energy experts in Yerevan alleged anti-competitive collusion among domestic fuel importers following record high petrol prices, am.sputniknews.ru reported. Local analysts noted importers exploited Middle East conflict volatility to inflate profit margins. Nevertheless, Armenian and Russian specialists held talks in Yerevan confirming continued technical cooperation on extending the operational lifespan of the Armenian Nuclear Power Plant. Natural gas imports proceed without disruption under long-term EAEU trade agreements shielding domestic consumers from global price volatility recorded by international market price assessments.