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[XRG Approves Final Investment Decision for Azerbaijan Absheron Gas Field Expansion] 1. XRG, the investment arm of Azerbaijan's National Oil Company (ADNOC), announced on Saturday that it has made a final investment decision for the next phase of development of the Absheron offshore gas and condensate field in Azerbaijan. XRG holds a 30% interest in the project. 2. The expansion is expected to release 5 trillion cubic feet of recoverable natural gas resources. The project is scheduled to commence production in 2029, at which time natural gas production will increase to 600 million cubic feet per day, and condensate production will increase to 47,000 barrels per day.

[EU Official Warns of Energy "Price Crisis," Urges Member States to Reduce Demand] 1. According to European media reports on September 25, EU Energy Commissioner Dan Jorgensen stated in a letter to EU energy ministers that the EU is facing an energy "price crisis" due to the impact of the Iranian conflict on the global oil and gas market. 2. He urged EU member states to consider measures to reduce natural gas and electricity demand to cope with the upcoming winter.

[Libya's National Oil Corporation Considers Alternative Imports to Keep Zawiya Refinery Operations On] 1. Libya's National Oil Corporation stated that it has suspended operations of one refining unit at the Zawiya refinery due to armed groups' continued forced closure of a valve on the Sharara crude oil pipeline. 2. The company said it is considering importing crude oil through the ports of Melita or Sidra to keep the Zawiya refinery operational.

[Russian Military Claims to Have Strike Ukrainian Starlink Support Data Processing Center] The Russian Ministry of Defense announced on the 26th that from the evening of the 25th to the early morning of the 26th, Russian forces struck a data processing center in Kyiv, the capital of Ukraine. This center provides mobile internet and Starlink satellite communication system support to the Ukrainian armed forces. The announcement also stated that Russian forces continued to use drones to strike Ukrainian ports, transportation infrastructure, and Ukrainian military logistics and communication centers. Furthermore, from 8 PM on the 25th to 8 AM on the 26th, Russian air defense forces shot down 645 Ukrainian drones in multiple locations including Astrakhan, Belgorod, Bryansk, and Voronezh regions, as well as over the Black Sea. (Xinhua)

[Iranian Foreign Minister: US-Israeli Attacks Have Killed Over 5,000] According to a report by the Islamic Republic News Agency (IRNA) on the 26th, Iranian Foreign Minister Araqchi stated at the United Nations headquarters in New York that the aggression against Iran by the United States and Israel has resulted in the deaths of over 5,000 people, including hundreds of women and children. Araqchi made these remarks during a media interview at the UN headquarters on the 25th. He listed some of the non-military targets attacked, including residential areas, schools, hospitals, energy facilities, and transportation infrastructure. Araqchi said that the assassinations of former Iranian Supreme Leader Ali Khamenei and several senior political and military officials by the US and Israel were blatant crimes and violations of international law. (Xinhua)

[Hot News Recap: Iran Proposes Reopening of Strait of Hormuz Within Seven Days, Provided the US Lifts Blockade and Abandons Sanctions] 1. Iran stated that if the US lifts its maritime blockade, abandons sanctions on Iranian oil sales, and adheres to the ceasefire agreement, including in Lebanon, Iran will reopen the Strait of Hormuz within seven days and resume negotiations on its nuclear program. 2. According to an attendee, Iranian Foreign Minister Araqchi detailed the proposal at a private meeting on Thursday during the UN General Assembly in New York. Trita Parsi, executive vice president of the Quincy Institute, who attended the meeting, said that Araqchi believes a swift agreement would help US President Trump win the November midterm elections. The Iranian mission to the UN and other Iranian officials have not yet commented. 3. The proposal is very similar to the so-called "memorandum of understanding" reached in June, but with a more urgent timeline. The previous agreement stipulated a 60-day transition period but quickly collapsed due to Iran's resumption of attacks on ships in the Strait of Hormuz. 4. Despite high oil prices exacerbating inflation and raising concerns about the cost of living, Trump has stated that he is in no hurry to reach an agreement. On the Iranian side, there are doubts about whether the hardliners who dominate the security forces will accept the compromise proposed by the relatively moderate President Pezehiziyan. 5. Parsey stated that if Trump sees the arrangement as profitable, offering political benefits before the midterm elections and lowering oil prices, he might see the flexibility not seen in recent weeks. However, he noted that there is "deep skepticism," particularly regarding concerns that Iran is merely stalling for time to extract more oil and alleviate its economic woes. 6. In the latest diplomatic development, Pezehiziyan hosted the Qatari prime minister earlier on Friday. Qatar has played a key mediator role, including during the indirect US-Iran talks at the UN this week. It remains unclear how long he and Araghchi will remain in the US after Pezehiziyan's speech at the UN World Leaders' Annual Meeting on Wednesday. 7. US Secretary of State Rubio stated on Wednesday that the US would certainly do so if given the opportunity to exchange ideas and information. Pakistani Prime Minister Sharif met with Bangladeshi Prime Minister Rahman and Iranian President Pezehiziyan on the sidelines of the UN General Assembly, pledging to deepen bilateral cooperation with Dhaka and Tehran. Sharif posted on X on Friday that he had a warm and friendly exchange with Rahman.