International Energy Agency member nations released 325 million barrels of emergency petroleum reserves, while Washington and Moscow initiated confidential talks over Lukoil’s foreign assets. Concurrently, the Russian Government eased exchange sales quotas for fuel producers, and maritime traffic along the Northern Sea Route reached a record 133 vessels in September.
Global market
International Energy Agency (IEA) member states released 325 million barrels of crude oil and petroleum products from emergency stockpiles out of a promised 400 million barrels, the agency confirmed. In high-stakes diplomacy, The New York Times reported confidential talks between US and Russian officials regarding a multi-billion-dollar deal involving Lukoil’s foreign assets, with sovereign wealth funds from Qatar and Abu Dhabi identified as potential co-investors. Consequently, Lukoil shares surged on the Moscow Exchange. In Arctic logistics, a record 133 vessels navigated the Northern Sea Route in September, quadrupling September 2022 levels, according to Financial Times. Additionally, Russia offered Niger a full spectrum of energy exploration and power plant construction services.
Russia & CIS
The Russian Government permitted petrol and diesel producers to count direct fuel deliveries to retail stations toward mandatory exchange sales quotas, the Cabinet press service announced. The temporary measure remains active through year-end to preserve domestic market stability. In nuclear safety, the International Atomic Energy Agency (IAEA) reported multiple attacks near the Zaporizhzhia Nuclear Power Plant (NPP), which damaged critical transformers essential for external power supplies. In regional infrastructure, Ukrainian drone strikes temporarily de-energized districts in Donetsk and Makiivka, while a fatal rockfall at the Cheremukhovskaya-Glubokaya mine in Sverdlovsk Region resulted in one fatality, prompting a criminal investigation.
Armenia
A new series of attacks near the Zaporizhzhia NPP and regional energy infrastructure remains a key focus for Armenian analysts, am.sputniknews.ru reported, assessing broader risks for Eurasian transit security. Despite ongoing regional tensions and shifting global logistics, retail prices for petrol, diesel, and compressed natural gas in Armenia remain stable. Natural gas supplies from Russia and operations at the Armenian Nuclear Power Plant continue at full capacity under long-term EAEU trade agreements shielding the domestic market from price volatility recorded by international market price assessments.