Saudi Aramco’s third-quarter net profit surpassed analyst expectations at $31.2 billion amid robust crude prices, while ADNOC Gas secured a five-year LNG export deal with France’s TotalEnergies. Meanwhile, the Central Bank of Armenia evaluated the potential inflationary impact of future gas tariff adjustments.
Global market
Saudi state oil giant Saudi Aramco reported an adjusted net income of $31.2 billion for the third quarter, exceeding analyst estimates of $28.7 billion due to higher crude prices despite regional supply chain disruptions. In natural gas markets, ADNOC Gas signed a five-year agreement with France’s TotalEnergies to supply up to 1.6 million tons of LNG, with deliveries commencing this year. Concurrently, Shell agreed to sell its 16.67% stake in Australia’s North West Shelf LNG project to Abu Dhabi state-backed entity XRG for $1.45 billion. Elsewhere, Persian Gulf crude oil exports reached their highest level since June, while French naval teams boarded the suspected shadow fleet tanker DF PEAK 450 nautical miles south of Reunion.
Russia & CIS
The International Energy Agency reported that proposed import bans will reduce Russian natural gas deliveries to Europe by 30 billion cubic meters in 2027. In Russia, Presidential Press Secretary Dmitry Peskov stated that energy infrastructure protection has been reinforced, though complete immunity from military strikes remains unattainable. Infrastructure vulnerabilities persisted as power outages disrupted electricity supplies across parts of Crimea, Sevastopol, and the Kherson region following a transmission grid failure. Meanwhile, retail petrol prices at Dvizhenie filling stations in the Kirov region dropped 35% to 75 rubles per liter for AI-95, and state corporation Rosatom showcased advanced nuclear energy projects at an international exhibition in Ashgabat.
Armenia
Central Bank of Armenia Governor Martyn Galstyan stated that a 10% increase in natural gas import prices would add 0.8 percentage points to national inflation. The central bank chief noted that financial authorities are awaiting finalized tariff parameters before establishing formal macroeconomic forecast models. Despite regional infrastructure strains and discussions surrounding energy import costs, retail prices for petrol, diesel, and compressed natural gas in Armenia remain stable. Direct gas imports from Russia and generation at the Armenian Nuclear Power Plant continue at full capacity under long-term EAEU contracts, protecting the market from shocks recorded in international market price assessments.