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Azerbaijan

Electricity access stalls with 730 million people still unconnected in 2024

Global progress on electricity access slowed in 2024, with only 11 million new connections, despite targeted efforts in parts of Africa and Asia.

Kyoto Group commissions world’s largest industrial thermal storage unit in Hungary

Norwegian-based Kyoto has launched a 56 MWh thermal storage system at KALL Ingredients in Hungary, designed to replace natural gas with renewable-based industrial heat.

US sanctions hit NIS, a key player in Serbia’s oil market

Serbian oil company NIS, partially owned by Gazprom, faces newly enforced US sanctions after a nine-month reprieve, testing the country's fuel supply chain.
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Brussels moves forward with plan to eliminate Russian oil and gas imports by 2028

Ambassadors of European Union member states have approved the transmission of a legislative proposal to phase out Russian fossil fuel imports by January 2028 to the Council of Ministers.

ExxonMobil returns to Iraq with deal on Majnoon oil field

ExxonMobil has signed a memorandum of understanding with the Iraqi government to develop the Majnoon oil field, marking its return to the country after a two-year absence.

JANAF and MOL begin crucial talks on Central European oil transport

Hungarian oil group MOL and Croatian operator JANAF are negotiating an extension of their crude transport agreement as the region seeks to reduce reliance on Russian oil.
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Envision Energy to supply 124 turbines for Kazakhstan’s 1 GW Mirny wind project

Envision Energy has signed an agreement to equip Kazakhstan’s largest wind power project, marking a strategic step in energy cooperation with TotalEnergies, Samruk-Energo and KazMunayGas.

Hungary secures 10-year LNG contract with Engie through 2038

Hungary has signed a ten-year agreement with Engie for the annual import of 400 mn m³ of liquefied natural gas starting in 2028, reinforcing its energy diversification strategy despite its ongoing reliance on Russian gas.

Russia strikes 95 targets and severely damages Ukrainian gas sites

An unprecedented overnight offensive targeted gas infrastructure in Ukraine, damaging several key facilities in the Kharkiv and Poltava regions, according to Ukrainian authorities.
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U.S. uranium purchases reach 55.9 million pounds in 2024

Uranium deliveries to U.S. civilian operators rose 8% in 2024, while the average price climbed to its highest level since 2012, according to the latest available data.

Bulgaria begins talks for the deployment of small modular reactors

The Ministry of Energy will initiate talks with developers of small nuclear reactors after signing a cooperation agreement with the United States to conduct preliminary studies on their deployment.

HiTHIUM signs 2GWh deal with Solarpro for large-scale storage projects in Eastern Europe

Storage provider HiTHIUM will supply 2GWh of batteries to Solarpro for multiple large-scale projects across the Balkans and Central Europe.
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ShaMaran signs agreement to restart oil exports via Iraq-Türkiye pipeline

ShaMaran and several international oil companies have reached a provisional deal with Baghdad and Erbil to resume crude exports from the Kurdistan region via pipeline, after months of suspension.

U.S. oil drilling rebounds amid global tensions

The number of active drilling rigs in the United States rose for the fourth consecutive week, supported by higher crude prices and OPEC+’s difficulties in meeting production targets.

Iraq resumes oil exports from Kurdistan after two-year suspension

Baghdad has restarted crude shipments from Kurdistan via the pipeline to Turkey, following a two-year halt linked to legal and contractual disputes involving international firms operating in the region.
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Dispute escalates between MOL and Janaf over Adriatic pipeline’s supply capacity

A technical dispute between Hungarian group MOL and Croatian operator Janaf raises doubts about the Adriatic pipeline's ability to supply oil to Hungary and Slovakia.

Azerbaijan arrests former SOCAR executive for embezzlement and economic threat

Adnan Ahmadzada, a former senior figure at SOCAR, has been placed in pre-trial detention in Baku on suspicion of large-scale embezzlement and threatening the country's economic security.

Brussels prepares tariffs on Russian oil imported by Hungary and Slovakia

The European Commission is considering targeted tariffs on Russian oil imports still allowed in Hungary and Slovakia, in an effort to bypass existing exemptions.
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Eight international oil companies reach deal to resume Kurdistan exports

Eight oil companies and Iraqi and Kurdish authorities have reached a preliminary deal to restart crude exports via the Iraq-Turkey pipeline, halted since March 2023.

LanzaJet and KMG launch engineering phase of Kazakhstan’s first SAF project

LanzaJet and state-owned KazMunayGas have reached a decisive milestone towards building Kazakhstan’s first sustainable aviation fuel plant, with the immediate start of the engineering phase.
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COP29: The urgency to triple renewable energies to achieve 1.5 °C climate goals

Facing the threat of surpassing the 1.5 °C warming threshold, COP29 calls for an ambitious energy transformation. IRENA emphasizes the need to triple renewable energy capacities by 2030 to keep the energy transition on track.

Libya and Kazakhstan: Contrasting Production Efforts within the OPEC+ Alliance

OPEC+ recorded an increase of 30,000 barrels per day in October, marked by Libya’s production surge and Kazakhstan’s reduction. Compliance remains a key challenge for the group.

Russian Gas Flows to Europe via Ukraine Maintained Despite Tensions in Kursk Region

Despite escalating tensions and the preparation of a Russian counteroffensive in the Kursk region, Russian gas flows to Europe via Ukraine continue as usual, according to data from GTSOU.
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COP29: The United States Promises to Continue Climate Action Despite Political Uncertainty

On the eve of a possible Trump presidency, the United States seeks to reassure its partners on its climate commitment at COP29, amidst North-South tensions and a debate on financial aid for developing countries.

COP29: Azerbaijan Defends the Exploitation of Its Oil Resources Amid International Pressures

COP29: Azerbaijan Defends the Exploitation of Its Oil Resources Amid International Pressures

COP29: Australia Increases Climate Support and Advocates for Green Hydrogen

As a contender to host COP31, Australia is pushing for ambitious climate commitments at COP29 in Azerbaijan, while promoting green hydrogen initiatives for Asian markets.
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COP29: Azerbaijan Pushes for Rapid Agreement on International Carbon Market

At COP29, Azerbaijan urges negotiators to swiftly adopt Article 6 rules, a critical issue for international carbon credit markets. Talks are intensifying in Baku, but obstacles remain.

China Adopts New Law to Accelerate Carbon Neutrality by 2060

China has ratified an ambitious legislation aimed at promoting carbon neutrality and framing sustainable energy development in response to growing climate challenges.

Brazil raises its greenhouse gas reduction target for 2035

Brazil has increased its greenhouse gas reduction target from 59% to 67% by 2035 as part of its commitment to the Paris Agreement.
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Iran faces fuel shortage: electricity rationed to avoid energy crisis

In response to a fuel shortage threatening the power plants, Iran has announced electricity rationing in Tehran and several provinces. The duration of this measure remains unknown.

COP29 begins with a pressing call for global cooperation

COP29 opens in Baku, Azerbaijan, amid global political uncertainty, with renewed calls for massive funding to support developing countries facing the climate crisis.

Russian and Kazakh Refineries Conclude Maintenance: An Impact on the Energy Market

As Russian and Kazakh refineries resume operations following maintenance periods, the energy market anticipates potential effects on fuel supply. Uncertainty remains around gasoline exports in Russia.
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The Uncertain Future of Russian Gas Transit via Ukraine to Europe

The transit of Russian gas through Ukraine may end in late 2024 if no agreement is reached between European buyers and Kyiv. This decision could increase pressure on the European energy market.

Japan increases coal imports to meet energy demand

Facing growing energy demand due to a record-breaking summer, Japan reports a surge in coal imports, exploring new suppliers to secure its electricity needs.

Iraq’s Kurdistan Hopes for Quick Resumption of Oil Exports Despite Tensions with Baghdad

Iraq's Kurdistan Hopes for Quick Resumption of Oil Exports Despite Tensions with Baghdad
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IEA Warns of Insufficient Progress in Energy Efficiency Ahead of COP29

Just days before COP29, the International Energy Agency (IEA) sounds the alarm: progress in energy efficiency remains well below the goals set in 2023, jeopardizing the reduction of fossil fuel usage.

U.S. Elections Reshape the Future of Energy: Between Protectionism and Climate Transition

The recent U.S. elections could reshape energy policies, influencing global markets, trade relations, and climate commitments. The opposing candidates’ positions, between protecting fossil industries and promoting clean energy, outline divergent prospects.

Macron offers France’s support to Kazakhstan for civilian nuclear development

During Kazakh President Kassym-Jomart Tokayev's visit to Paris, Emmanuel Macron strengthened the strategic partnership between France and Kazakhstan, offering French expertise to support the development of civilian nuclear energy in Kazakhstan.
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Azerbaijan at COP29: an Energy Future Rooted in Oil and Gas

As the host of COP29, Azerbaijan is a land rich in oil and gas resources. Its current strategy focuses on natural gas to become an essential supplier in Europe.

COP29 under Tension: Climate Commitments Threatened by Fossil Fuel Interests

As COP29 approaches in Azerbaijan, tensions emerge as climate ambitions clash with economic realities, and vulnerable nations express growing impatience.
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