Iraq

Faced with falling margins and overcapacity, Beijing is restructuring its electric vehicle industry by focusing on quality, standards, and technological upgrading.
The Italian government is demanding assurances on fuel supply security before approving the sale of Italiana Petroli to Azerbaijan's state-owned energy group SOCAR, as negotiations continue.

Oil flow via Druzhba to Germany restored after drone strike

Rosneft Germany announces the resumption of oil deliveries to the PCK refinery, following repairs to the Druzhba pipeline hit by a drone strike in Russia that disrupted Kazakh supply.
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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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The new Russian railway line linking the Elga mine to the Sea of Okhotsk port will reach full capacity in 2026, after an operational testing phase scheduled for 2025.
Taiwan accuses China of illegally installing twelve oil structures in the South China Sea, fuelling tensions over disputed territorial sovereignty.

1,460 GtCO2: Nature study reshapes allocation of global subsurface capacity

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.
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Facing blackouts imposed by the authorities, small businesses in Iran record mounting losses amid drought, fuel shortages and pressure on the national power grid.
A report by the International Atomic Energy Agency puts Iran’s 60% enriched uranium at 440.9 kg before Israeli and U.S. strikes, while the agency’s access to enrichment sites has remained suspended since the operations.

Indian imports of Russian oil rise 15% in first half of 2025

India increased its purchases of Russian oil and petroleum products by 15% over six months, despite new US trade sanctions targeting these transactions.
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Gazprom and China National Petroleum Corporation have signed a binding memorandum to build the Power of Siberia 2 pipeline, set to deliver 50 bcm of Russian gas per year to China via Mongolia.
Russian group T Plus plans to stabilise its electricity output at 57.6 TWh in 2025, despite a decline recorded in the first half of the year, according to Chief Executive Officer Pavel Snikkars.

Indonesia and Eurasian Economic Union to sign free trade deal by end of 2025

Indonesia will finalise a free trade agreement with the Eurasian Economic Union by year-end, paving the way for expanded energy projects with Russia, including refining and natural gas.
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ADNOC Group CEO Dr Sultan Al Jaber has been named 2025 CEO of the Year by his global chemical industry peers, recognising his role in the company’s industrial expansion and international investments.
New solar installations rose 64% year-on-year, driven by China, which accounted for more than two-thirds of global deployed capacity.

Putin asks Slovakia to block energy flows to Ukraine

During a meeting in Beijing, Vladimir Putin called on Slovakia to suspend its energy deliveries to Ukraine, citing Ukrainian strikes on Russian energy infrastructure as justification.
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Vladimir Putin and Robert Fico met in China to address the war in Ukraine, regional security and energy relations between Russia and Slovakia.
Saudi and Iraqi exporters halted supplies to Nayara Energy, forcing the Rosneft-controlled Indian refiner to rely solely on Russian crude in August.
The Saudi oil giant posts solid results despite falling oil prices. The company pays $21.3 billion in dividends and advances its strategic projects.
Tanzania, together with Russia, is starting construction of a uranium plant in Namtumbo for $1.2bn, aiming to boost mining revenues and secure a place in the global nuclear industry.

China launches 60 GW hydropower dam and creates dedicated public group

A 60-gigawatt hydropower dam under construction in Tibet will increase national capacity by 16%, with an estimated cost of $167bn supported by a new state entity.
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Faced with falling discounts on Russian oil, Indian Oil Corp is purchasing large volumes from the United States, Canada and Abu Dhabi for September, shifting its usual sourcing strategy.
Independent Chinese oil companies are intensifying their investments in Iraq, aiming to double their production to 500,000 barrels per day by 2030 and compete with the sector’s historic majors.

Iran and Iraq struggle to finalize gas agreement despite advanced negotiations

Discussions between Tehran and Baghdad on export volumes and an $11 billion debt reveal the complexities of energy dependence under U.S. sanctions.
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The eight voluntary OPEC+ members accelerate their market return in September despite weakened global demand and record production from the Americas.
Facing US secondary sanctions threats, Indian refiners slow Russian crude purchases while exploring costly alternatives, revealing complex energy security challenges.

Ukrainian drones trigger fire at oil depot in Sotchi

A fire broke out at a Sotchi oil depot after an attack by Ukrainian drones, causing no casualties but temporarily disrupting air traffic and mobilising significant emergency resources.
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Fotowatio Renewable Ventures joins forces with Envision Energy for the H2 Cumbuco project, aiming for a 500MW green ammonia plant targeting Brazilian, European, and Asian markets.
First Solar anticipates higher revenue for the current year, driven by an increase in solar panel prices following the introduction of new import tariffs.

Hungary signs agreement with Synthos to introduce US small modular reactors

Hunatom announces a strategic alliance with Synthos Green Energy to introduce US small modular reactor technology, strengthening energy ties between Hungary, Poland and the United States.
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The progress of national targets for renewable energy remains marginal, with only a 2% increase since COP28, threatening the achievement of the tripling of capacity by 2030 and impacting energy security.
The 50% tariffs push Brasília toward accelerated commercial integration with Beijing and Brussels, reshaping regional economic balances.

Trump hits Brazil with 50% tariffs but spares oil and iron

Washington imposes massive duties citing Bolsonaro prosecution while exempting strategic sectors vital to US industry.
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The US wind market recorded 91% growth in the first quarter of 2025, but new regulatory restrictions and the planned end of tax credits threaten the sector’s future.
The Trump administration cancels federal offshore wind zones, threatening 77,000 jobs and $12bn in annual investments in a sector currently employing 120,000 people.

Trump imposes 25% plus mystery penalties on India from August

Washington triggers an unprecedented tariff structure combining 25% fixed duties and an additional unspecified penalty linked to Russian energy and military purchases.
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Shell’s half-year net profit falls to USD8.38bn as the group announces a new share buyback programme, amid lower hydrocarbon prices and ongoing cost reductions.
Schneider Electric’s revenue reached EUR19.3bn in the first half, supported by strong data centre activity and growth across all its main markets.