Indonesia

Import quotas exhaustion and falling demand push Chinese independent refineries to sharply reduce Iranian crude volumes, affecting supply levels and putting downward pressure on prices.
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.

Used oil imports multiply twentyfold under pressure from biofuels

Global demand for biofuels is driving a sharp increase in used oil imports to Europe and the United States, straining global feedstock supply chains, according to the International Energy Agency.
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Singapore’s gasoil and kerosene inventories reached a three-month high after a sharp weekly drop in net exports, supported by a marked increase in imports from Northeast Asia.
Russian oil output moved closer to its OPEC+ allocation in September, with a steady rise confirmed by Deputy Prime Minister Alexander Novak.

Russia formally exits bilateral nuclear agreement with the United States

The State Duma has approved Russia’s formal withdrawal from a treaty signed with the United States on the elimination of military-grade plutonium, ending over two decades of strategic nuclear cooperation.
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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.

Indonesia: Radioactive traces found in 22 industrial sites after US shrimp recall

Indonesian authorities identified traces of caesium-137 in 22 facilities near Jakarta following the recall of contaminated shrimp exported to the United States by a local producer.
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Crude prices rose following the decision by the Organization of the Petroleum Exporting Countries and its allies to increase production only marginally in November, despite ongoing signs of oversupply.
The Ukrainian government is preparing to raise natural gas imports by 30% to offset damage to its energy infrastructure and ensure supply continuity during the winter season.

Belarus quadruples fuel exports to Russia in September

Rail shipments of Belarusian gasoline to Russia surged in September as Moscow sought to offset fuel shortages caused by Ukrainian attacks on its energy infrastructure.
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Polish Prime Minister Donald Tusk said it was not in Poland’s interest to extradite to Germany a Ukrainian citizen suspected of taking part in the explosions that damaged the Nord Stream gas pipelines in 2022.
Denmark is intensifying inspections of ships passing through Skagen, a strategic point linking the North Sea and the Baltic Sea, to counter the risks posed by the Russian shadow fleet transporting sanctioned oil.

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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The Indonesian government plans to mandate a 10% bioethanol blend in gasoline to reduce fuel imports and support the local ethanol industry.
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.
BP and Fortescue withdrawals reveal gap between promises and economic reality in the sector, despite 22.7 billion Australian dollars in government incentives.
Taihan strengthens its presence in Singapore with a fifth consecutive contract for a 400 kV underground network, as part of a power interconnection project with Indonesia.

Canada joins EU and G7 to lower the Russian oil price cap

The Canadian government adopts a new dynamic cap of $47.60 per barrel for Russian oil, aligning its position with that of the European Union and the United Kingdom.
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The Australian gas giant extends due diligence period until August 22 for the Emirati consortium's $18.7 billion offer, while national energy security concerns persist.
FPSO One Guyana begins production as part of the Yellowtail development, with enhanced technical capabilities to optimise reliability and maintenance in deep waters.

OPEC+ to complete in September the full withdrawal of 2.2 million b/d voluntary cuts

The eight OPEC+ members concerned will end next month the cuts introduced in November 2023, while keeping the option to readjust their output depending on market fundamentals and quota compliance.
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Field studies to determine the location of Kazakhstan’s first nuclear power plant have begun near the village of Ulken, marking a key stage in a project led by Rosatom.
China’s nuclear safety authority has approved the construction of units 1 and 2 at the Jinqimen plant, authorising the start of foundation work for the first reactor.

Wood Mackenzie: Tesla remains global leader in battery storage as Sungrow closes the gap in 2024

Tesla retains the top position in the global battery storage market, but Sungrow moves within one point, revealing intensifying rivalries and a rapid reshaping of regional dynamics in 2024.
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Giant discoveries are transforming the Black Sea into an alternative to Russian gas, despite colossal technical challenges related to hydrogen sulfide and Ukrainian geopolitical tensions.
Uniper reaffirms its targets for the year, narrows its forecast range, and strengthens its transformation strategy while launching cost-cutting measures in a demanding market environment.

Energy Vault launches Asset Vault with $300 mn investment to accelerate 1.5 GW energy storage

Energy Vault secures an exclusive $300 mn commitment to support the creation of Asset Vault, a subsidiary dedicated to building and operating 1.5 GW of energy storage projects across several continents.
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Energy Vault confirms the acquisition of the Stoney Creek storage project, marking its first major operation in the Australian market, following approval from local authorities on foreign investments.
Endua, an Australian technology company, has received $4.88mn in public funding to strengthen its capacity to produce modular hydrogen electrolysers, supporting the expansion of local supply chains and industrial development within the hydrogen sector.

Envision Energy validates reliability of its two-blade wind turbine with 500 days of stable operation

Envision Energy's two-blade prototype has now reached over 500 days of continuous operation, achieving a 99.3% availability rate and confirming its potential compared to industrial standards.
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Revenues generated by oil and gas in Russia recorded a significant decrease in July, putting direct pressure on the country’s budget balance according to official figures.
Belarus offers its expertise to support the construction of Uzbekistan’s first nuclear power plant, as Tashkent accelerates its civil energy projects with new international partnerships.

Recon wins $5.85mn contract to upgrade major gas field in Central Asia

Recon Technology secured a $5.85mn contract to upgrade automation at a major gas field in Central Asia, confirming its expansion strategy beyond China in gas sector maintenance services.
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INPEX has finalised the awarding of all FEED packages for the Abadi LNG project in the Masela block, targeting 9.5 million tonnes of annual production and involving several international consortiums.
A free trade agreement between Indonesia and the Eurasian Economic Union is set to be signed in December, aiming to reduce tariffs on $3 bn worth of trade and boost bilateral commerce in the coming years.