China

Amid rising energy costs and a surge in cheap imports, Ineos announces a 20% workforce reduction at its Hull acetyls site and urges urgent action against foreign competition.
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.

Global green ammonia market to reach $38.5bn by 2033, driven by large-scale projects

Green ammonia reaches a new industrial milestone with 428 active projects and over $11bn in investments, highlighting accelerated sector growth across Asia, the Middle East, Europe and the Americas.
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According to the International Energy Agency (IEA), global renewable power capacity could more than double by 2030, driven by the rise of solar photovoltaics despite supply chain pressures and evolving policy frameworks.
Driven by rising electricity demand and grid flexibility needs, natural gas power generation is expected to grow at an annual rate of 4.8% through 2030.

China opts for quarterly thermal coal contracts with Indonesia for 2026

Chinese buyers begin negotiations for 2026 thermal coal deliveries, favouring shorter contracts to maintain flexibility in a stable price environment.
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China set a record for clean technology exports in August, driven by surging sales of electric vehicles and batteries, with more than half of the growth coming from non-OECD markets.
The end of China's VAT rebate and reduced output bring an end to eighteen months of historically low prices in solar and storage sectors.

Beijing transfers up to $8.4bn to Iran through parallel oil network

China has established a clandestine oil-for-projects barter system to circumvent US sanctions and support Iran’s embargoed economy, according to an exclusive Wall Street Journal investigation.
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A bipartisan group of 47 lawmakers is calling on the US Environmental Protection Agency to maintain high biodiesel quotas to support local agriculture affected by falling exports to China.
Brazilian holding J&F Investimentos is in talks to acquire EDF’s Norte Fluminense thermal plant, valued up to BRL2bn ($374 million), as energy-related M&A activity surges across the country.

China could supply gasoline to Russia if Moscow removes import duties

The potential removal by Moscow of duties on Chinese gasoline revives export prospects and could tighten regional supply, while Singapore and South Korea remain on the sidelines.
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Russian seaborne crude shipments surged in September to their highest level since April 2024, despite G7 sanctions and repeated drone strikes on refinery infrastructure.
Kinshasa replaces export ban with a quota system covering just half of its output, triggering a price surge and global supply tensions.

India risks regulatory setback on ethanol as Brazil consolidates SAF lead

India holds a surplus of ethanol that could support SAF production, but unclear sugarcane feedstock rules limit commercial development.
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The European ban on Russian liquefied natural gas from 2027 is pushing Siberian producers to reorient their flows to Asia, despite logistical and regulatory constraints.
Envision Energy has published an environmental product declaration for two of its turbines, a milestone certified to ISO standards aimed at strengthening its position in international wind markets.

Fortescue forges global industrial alliances to electrify its mining operations

Fortescue accelerates the decarbonisation of its operations by leveraging an international network of technology and industrial partners, targeting net zero at its mining sites by 2030.
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The global hydrogen production market is expected to more than double by 2035, supported by technological advances and growing demand from transport, heavy industry and decarbonised energy systems.
At World Atomic Week in Moscow, the Russian president advocated for a reform of civil nuclear funding mechanisms, urging stronger involvement from multilateral financial institutions.
Venezuelan oil group PDVSA is mobilising to restart export operations under conditions similar to previous US licences, as Washington prepares to again authorise its main partners to operate.
The Brazilian mining sector is drawing US attention as diplomatic discussions and tariff measures threaten to disrupt the balance of strategic minerals trade.

Trump threatens tariffs on Russian oil, but Reuters says enforcement unlikely

Donald Trump has raised the prospect of tariffs on countries buying Russian crude, but according to Reuters, enforcement remains unlikely due to economic risks and unfulfilled past threats.
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Tulip Innovation has obtained a third injunction in Germany against Sunwoda Group in a battery technology patent case, strengthening its position in the electric vehicle components market.
The latest report from the International Renewable Energy Agency confirms the cost superiority of renewables, but highlights persistent challenges for grid integration and access to financing in emerging markets.

Kazakhstan launches oil refining strategy to 2040 with $5bn in investments

Kazakhstan adopts an ambitious roadmap to develop its refining and petrochemical industry, targeting 30% exports and $5bn in investments by 2040.
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The International Energy Agency anticipates an acceleration in global liquefied natural gas trade, driven by major new projects in North America, while demand in Asia remains weak.
Desay Battery unveiled its new generation of energy storage solutions in Changsha, focusing on proactive safety and innovations for data centres and the global market.

The largest 500 MW energy storage site in southern Xinjiang is now operational

A 500 MW independent energy storage site has just been connected to the grid near Kashgar, marking a significant step forward in the modernisation of southern Xinjiang’s electricity network.
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In the face of renewable energy intermittency, Power-to-Hydrogen-to-Power (PtP) technology could revolutionize energy storage. However, its adoption still depends on cost reduction and efficiency improvements.
New anti-dumping tariffs and Foreign Entity of Concern (FEOC) restrictions are disrupting the US solar supply chain, while ongoing dependence on China exposes the industry to significant risks, according to Wood Mackenzie.

The tech sector urged to accelerate the energy transition amid rising demand

The growth of data centres and artificial intelligence is putting unprecedented pressure on global electricity grids, prompting major tech companies to rethink their energy supply to address capacity and competitiveness challenges.
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The Organization of the Petroleum Exporting Countries (OIES) confirmed its Brent price forecast at 69 USD/b in 2025 and 67 USD/b in 2026, while adjusting its 2025 surplus forecast to 280,000 barrels per day.
Kuwait Petroleum Corporation (KPC) adjusts its strategy by reducing its tenders while encouraging private sector participation to meet its long-term objectives by 2040, particularly in the petrochemical industry.

China unveils 17 MW floating wind turbine prototype

The 17 MW floating wind turbine prototype, the most powerful in the world, was launched in China, marking a significant advancement in offshore turbine manufacturing and supporting the development of deep-sea offshore wind power.
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US Senator Lindsey Graham announced that President Donald Trump plans to impose 100% tariffs on countries purchasing Russian oil, including China, India, and Brazil.
Danish group Cadeler has taken early delivery of the Wind Keeper, its eighth vessel, now tied to a three-year contract with Vestas worth a firm EUR210m ($228m), including additional options.

Asia-Pacific LNG physical market jumps 86% year over year despite geopolitical tensions

LNG trading volumes in the Asia-Pacific region reached 1.24 million tonnes, driven by summer demand and rising participation, despite a 21% monthly decline linked to geopolitical uncertainty.
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A report by Wood Mackenzie reveals that geopolitical pressures and rising global electricity demand could keep coal-fired generation elevated well beyond current forecasts.
Chevron finalised the acquisition of Hess for nearly $60bn, after winning an arbitration case against ExxonMobil over pre-emption rights in Guyana.