China

Driven by China's acceleration, global wind capacity is expected to reach 170 GW in 2025, paving the way for a doubling of installed capacity by 2032.
A consortium led by BlackRock is in talks to raise up to $10.3 billion to finance a gas infrastructure deal with Aramco, including a dual-tranche loan structure and potential sukuk issuance.

Germany urges European Union for more flexibility on 2035 combustion car ban

Berlin questions the ban on sales of combustion cars from 2035, as German automakers warn of economic and industrial risks for the country.
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Nigeria’s two main oil unions have halted loadings at the Dangote refinery, contesting the rollout of a private logistics fleet that could reshape the sector’s balance.
The steel dome of the CAP1000 Haiyang 4 reactor has been positioned, a major construction milestone paving the way for upcoming maintenance and technical installation phases.

BW Energy raises $365mn for Maromba FPSO and secures drilling rig

BW Energy has finalised a $365mn financing for the conversion of the Maromba FPSO offshore Brazil and signed a short-term lease for a drilling rig with Minsheng Financial Leasing.
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Over 500 hydrogen projects are now under construction or operational worldwide, with total committed investments reaching USD110 billion, representing an increase of USD35 billion in one year.
The Voskhod and Zarya vessels, targeted by Western sanctions, departed China’s Beihai terminal after potentially offloading liquefied natural gas from the Arctic LNG 2 project.

Iran seeks to revive oil production amid threat of renewed sanctions

Ayatollah Ali Khamenei calls for modernising the oil industry and expanding export markets as Tehran faces the possible reactivation of 2015 nuclear deal sanctions.
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StarCharge has signed a contract to supply 1 GWh of battery energy storage systems to Prozeal Green Energy, strengthening its presence in the Indian market and continuing its international expansion.
The federal government is granting $370mn to Canadian canola producers affected by a 75.8% tariff imposed by China, and is introducing fiscal and regulatory measures to strengthen the domestic biofuel industry.

Greek shipowners cut Russian crude links under new compliance rules

Greek shipping companies are gradually withdrawing from transporting Russian crude as the European Union tightens compliance conditions on price caps.
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NatPower Marine and Wah Kwong create a joint venture to deploy a maritime electric charging network in over 30 Asian ports by 2030, without requiring initial public investment.
The Chinese turbine manufacturer has signed a strategic agreement with Mensis Enerji to develop an initial 4.5 GW wind power portfolio in Turkey, strengthening its position in a fast-growing regional market.

China redefines electric vehicle strategy around technological innovation

Faced with falling margins and overcapacity, Beijing is restructuring its electric vehicle industry by focusing on quality, standards, and technological upgrading.
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The visit marks a new step in the cooperation between the United Arab Emirates and Tellus Power, aiming to establish an EV charging station production unit in the Gulf.
Envision Energy launches its first project in Turkey in partnership with Yildizlar Group, adding 232 MW to the national wind capacity in Karaman province.

CNOOC starts Wenchang 16-2 oilfield project to strengthen investments

CNOOC has launched production at the Wenchang 16-2 field in the South China Sea, supported by 15 development wells and targeting a plateau of 11,200 barrels of oil equivalent per day by 2027.
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Taiwan accuses China of illegally installing twelve oil structures in the South China Sea, fuelling tensions over disputed territorial sovereignty.
A prudent limit of 1,460 GtCO2 for geologic storage reshapes the split between industrial abatement and net removals, with oil-scale injection needs and an onshore/offshore distribution that will define logistics, costs and liabilities.
Chinese firm SANY Renewable Energy enters Serbia through a 168 MW wind deal aimed at powering the local grid from 2028.
China’s 600MW/2400MWh project enters energisation phase following the installation of 240 battery containers, initiating initial maintenance of this ultra-high-voltage hybrid energy facility.

Wanhua Chemical and ElevenEs partner to secure LFP supply chain in Europe

Wanhua Chemical has signed a strategic agreement with Serbian manufacturer ElevenEs to establish a localised supply chain for LFP battery materials, reinforcing their technical and industrial cooperation in the European market.
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The British government officially commits £14.2 billion to develop two EPR nuclear reactors in eastern England, in strategic partnership with the French group EDF, with a final investment decision expected shortly.
China's coal imports dropped 18% in May, driven by historically low domestic prices and significant growth in national production, shifting the country's energy market dynamics.

Brazil activates 27 rare earth projects to secure its supply chain

With 27 ongoing projects across seven states, Brazil seeks international funding to develop its rare earth reserves and reduce reliance on China.
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Chinese ethylene producers are betting on a surge in US ethane arrivals in June as Beijing upholds tariff exemptions and bilateral talks resume.
The United States blocks export licenses for nuclear equipment to China, amplifying bilateral trade tensions already marked by strategic technology restrictions and possible retaliatory measures.

Envision Energy and SUN Terra form strategic partnership in energy storage across Asia-Pacific

Envision Energy and SUN Terra join forces to build a full energy storage value chain in Southeast Asia, India and Australia, including local manufacturing and technology licensing.
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India’s unprecedented drop in power demand led to a sharp decline in coal-based generation in May, while renewable energy output reached a record high.
The International Energy Agency projects a record-high global energy investment in 2025, driven by electricity and low-carbon technologies despite geopolitical and economic uncertainty.

The renewable energy market reaches $1,200 billion in 2024

The global renewable energy market continues to grow, reaching $1,200 billion in 2024, according to a report by the International Energy Agency (IEA), supported by investments in solar and wind energy.
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On World Environment Day, PowerChina highlights its infrastructure projects in Malaysia, confirming its leading role in overseas clean energy contracts.
Greenpeace data shows a renewed wave of coal projects in early 2025, as renewable capacity surpasses thermal energy for the first time.

South Korea Accelerates Energy Diplomacy Amid Growing Geopolitical Tensions

President Lee Jae-myung adopts an energy diplomacy rooted in national interest, amid a complex international landscape of rivalries that could create challenging situations for the country and its energy businesses.
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The European Union selects 13 critical materials extraction projects, including a site in Greenland, to secure strategic supplies essential for technological and energy industries, amidst global geopolitical risks.
The Democratic Republic of Congo is set to replace its temporary ban on cobalt hydroxide exports with quotas, aiming to balance global demand, secure revenue, and stabilize market fluctuations.

CBAK Energy secures $3mn order from Livguard, expands its footprint in India

Chinese lithium-ion battery maker CBAK Energy received a new $3mn order from India’s Livguard, bringing the total value of their agreements to $7.9mn.
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New US tariff measures are driving up energy sector costs, with a particularly strong impact on storage and solar, according to a study by Wood Mackenzie.
Chinese group Envision Energy has signed a strategic agreement with Marubeni to supply green ammonia, marking a major milestone in energy trade between China and Japan.