Iraq

The inclusion of hydrogen in China’s 15th Five-Year Plan confirms a public investment strategy focused on cost reduction, domestic demand stimulation and geo-economic influence across global markets.
Chinese authorities authorise increased private sector participation in strategic energy projects, including nuclear, hydropower and transmission networks, in an effort to revitalise slowing domestic investment.

Newcleo considers shifting €16bn nuclear projects from the UK to the United States

Faced with shorter approval timelines, several European nuclear firms, including Newcleo, Orano and Urenco, are considering relocating key industrial investments to the United States.
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Kuwait National Petroleum Company aims to boost gas production to meet domestic demand driven by demographic growth and new residential projects.
Kuwait is preparing a battery storage project with a capacity of up to 6 GWh to stabilise its power grid and address rising electricity demand.

Envision and Statera partner on 680MW storage project in the United Kingdom

China's Envision Energy will supply a 680MW battery storage system to UK-based Statera Energy as part of the Carrington project, one of the largest in the country to reach financial close.
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Chinese group Jinhong Gas finalises a new industrial investment in Spain, marking its first European establishment and strengthening its global strategy in the industrial gas sector.
Driven by the recovery in the raw materials market, CBAK Energy posted a sharp rise in revenue in the third quarter, while its battery business enters a complex industrial transition.

Sinopec accelerates on SAF and carbon credits to secure European markets by 2025

The Chinese giant targets 120 kt of SAF trading in 2025 and expands into European carbon markets, banking on ReFuelEU and CORSIA mandates to capture growing regulated demand.
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COP30 begins in Belém under uncertainty, as countries fail to agree on key discussion topics, highlighting deep divisions over climate finance and the global energy transition.
TotalEnergies has tasked Vallourec with supplying tubular solutions for drilling 48 wells as part of its integrated gas project in Iraq, reinforcing their ongoing industrial cooperation on the Ratawi field.

Global renewable capacity to reach 793 GW in 2025 despite limited political ambitions

Global solar and wind additions will hit a new record in 2025, but the lack of ambitious national targets creates uncertainty around achieving a tripling by 2030.
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Indonesia’s coal overproduction has cut state revenues and company profits, while methane emissions from mines far exceed official figures.
OMS Energy is accelerating investments in artificial intelligence and robotics to position itself in the growing pipeline inspection and maintenance sector, a strategic segment with higher margins than traditional equipment manufacturing.

South Korea under industrial pressure over emissions targets deemed unrealistic

South Korean refiners warn of excessive emissions targets as government considers cuts of up to 60% from 2018 levels.
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An international group of researchers now forecasts a Chinese emissions peak by 2028, despite recent signs of decline, increasing uncertainty over the country’s energy transition pace.
Chinese manufacturer Pylontech strengthens its international investment strategy by launching a local entity in Australia to accelerate the deployment of its energy storage solutions.

JA Solar to supply 1.2 GW of modules for two photovoltaic projects in Uzbekistan

JA Solar has signed an agreement with Larsen & Toubro to supply photovoltaic modules for the Samarkand 1 and 2 solar power plants, developed by ACWA Power with a total installed capacity of 1.2 GW.
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Two photovoltaic plants with a combined capacity of 1,400 MW will be operational in 2027, strengthening EDF Group's international presence and Asian actors in Saudi Arabia's energy market.
Driven by aerospace, industrial gas, and hydrogen investment, the global liquid hydrogen micro-storage systems market is projected to grow 9% annually through 2034.
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 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.

Hydrogen surpasses USD110 billion in committed investments across more than 500 projects

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.
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OPEC+ begins a new phase of gradual production increases, starting to lift 1.65 million barrels/day of voluntary cuts after the early conclusion of a 2.2 million barrels/day phaseout.
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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The International Atomic Energy Agency warns that little time remains to reach an agreement with Iran on fully resuming inspections, as European sanctions could be reimposed within 30 days.
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.

Ottawa allocates $370mn to support Canadian canola sector amid Chinese tariffs

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.
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Eight OPEC+ members will meet to adjust their quotas as forecasts point to a global surplus of 3 million barrels per day by year-end.
Greek shipping companies are gradually withdrawing from transporting Russian crude as the European Union tightens compliance conditions on price caps.

Iraq in talks with ExxonMobil for refining capacities in Asia

SOMO is negotiating with ExxonMobil to secure storage and refining access in Singapore, aiming to strengthen Iraq’s position in expanding Asian markets.
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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.