Saudi Arabia

Mongolia plans to launch its first oil refinery in 2028 with India’s support

India is funding Mongolia’s first oil refinery through its largest line of credit, with operations scheduled to begin by 2028, according to official sources.

Battery prices in Asia-Pacific drop to record lows through 2029

Utility-scale battery storage system costs continue to fall across Asia-Pacific, but the pace of reductions is expected to slow significantly by 2029, according to Wood Mackenzie projections.

StarCharge signs 500MWh contract with ENERGY INVESTMENT LLC in Eastern Europe

StarCharge has secured a 500MWh energy storage order through a strategic agreement with ENERGY INVESTMENT LLC, strengthening its position in rapidly evolving Eastern European markets.
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JA Solar begins mass production of its 650W DeepBlue 5.0 solar modules

Chinese manufacturer JA Solar has started initial deliveries of its 650W n-type DeepBlue 5.0 module from its automated production site in Yangzhou.

Low attendance of world leaders at COP30 despite climate and logistical urgency

The COP30 conference hosted in the Amazon by Brazil faces low participation from global leaders, amid geopolitical tensions and major logistical challenges.

Sungrow and ENGIE activate 400 MWh of Europe’s largest storage project

The Vilvoorde site in Belgium now hosts 400 MWh of operational capacity on a total 800 MWh project, marking a key milestone for electricity storage on the continent.
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Midad Energy signs $5.4bn contract with Sonatrach in Algeria

Sonatrach and Midad Energy North Africa signed a production-sharing hydrocarbon contract in the Illizi South perimeter, involving a total investment estimated at $5.4bn for exploration and exploitation of the site.

Global energy demand rises by 40 million barrels of oil equivalent per day

Aramco CEO Amin Nasser warns of growing consumption still dominated by hydrocarbons, despite massive global energy transition investments.

China’s crude oil imports rise 3.9% in September

China imported an average of 11.5 million barrels of crude oil per day in September, supported by higher refining rates among both state-run and independent operators.
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Unipec redirects supertanker to Ningbo after US sanctions

The New Vista vessel, loaded with Abu Dhabi crude, avoided Rizhao port after the United States sanctioned the oil terminal partly operated by a Sinopec subsidiary.

OPEC maintains demand forecast and lowers expected 2026 deficit

OPEC confirms its global oil demand growth forecasts and anticipates a much smaller deficit for 2026, due to increased production from OPEC+ members.

India invests $77 billion in large-scale hydroelectric plan amid China tensions

New Delhi plans to allocate INR6.4tn ($77bn) to develop transmission infrastructure for 76 GW of electricity from the Brahmaputra Basin by 2047, amid growing cross-border pressures.
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Russia taps into Tajikistan’s rivers and cotton for joint ventures

Moscow strengthens industrial joint ventures with Tajikistan by leveraging hydropower, agriculture, and mining in a strategy based on mutual interest and economic complementarity.

Croatia targets Russian stake in NIS to maintain oil flows

JANAF is interested in acquiring a 20 to 25% stake in NIS, as the Russian-owned share is now subject to US sanctions.

Australia loses Asian markets for seaborne thermal coal

Falling Chinese imports and Asia’s regional pivot increase pressure on Australian thermal coal exporters.
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Rosatom begins excavation for small modular reactor project in Uzbekistan

The construction of Uzbekistan’s first small modular reactor (SMR) is underway, with 1.5mn m³ of earth being excavated in Jizzakh, marking a major milestone for the nuclear project led by Rosatom.

Washington targets Iranian oil with new sanctions on phantom fleet

The US Treasury Department has imposed sanctions on more than 50 entities linked to Iranian oil exports, targeting Chinese refineries and vessels registered in Asia and Africa.

Engie and Masdar secure 1.5 GW solar project in Abu Dhabi

The consortium led by Engie and Masdar has been selected to develop a 1.5 GW photovoltaic plant in Abu Dhabi, aimed at expanding the emirate’s solar capacity under its long-term energy strategy.
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Goldwind launches green methanol production in Inner Mongolia with CNY2.3bn investment

The first phase of a green methanol project in Inner Mongolia has successfully completed biomass gasifier technical tests, marking a key milestone in Goldwind's industrial deployment.

Ming Yang plans £1.5bn wind turbine factory in Scotland

Chinese manufacturer Ming Yang plans to build the UK’s largest wind turbine facility in Ardersier, with an initial £750mn investment and up to 1,500 jobs created by 2028.

Brazil’s oil industry plans over $110bn in total natural gas investments

In response to the energy transition, Brazil’s oil majors are accelerating their gas investments. It is an economic strategy to maximise pre-salt reserves before 2035.

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.

US wind energy sector faces political and tariff headwinds in 2025

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.
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Trump revokes 3.5 million acres dedicated to US offshore wind

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.

US tariff ultimatum pushes India towards new Asian trade alliances

Sanctions imposed on August 1 accelerate the reconfiguration of Indo-Pacific trade flows, with Vietnam, Bangladesh and Indonesia emerging as principal beneficiaries.

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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Schneider Electric posts record half-year results driven by data centre demand

Schneider Electric’s revenue reached EUR19.3bn in the first half, supported by strong data centre activity and growth across all its main markets.

Subsea 7 reports earnings growth and confirms merger with Saipem

Subsea 7 reports a strong increase in its financial results for the second quarter of 2025 and announces a definitive agreement for a merger with Saipem, while maintaining its growth outlook for the year.

Russia advances its position on uranium and civil nuclear energy in Niger

The Russian Minister of Energy announces strengthened cooperation in uranium and civil nuclear energy in Niger, reinforcing Russia's economic presence in a key sector following the withdrawal of several Western players.
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The MENA renewable energy market will reach USD59.9 bn in 2030 driven by hydrogen and solar

Investments in renewable energy across the Middle East and North Africa are expected to reach USD59.9 bn by 2030, fuelled by national strategies, the rise of solar, green hydrogen, and new regional industrial projects.

SANY launches 10 MW solar project in Zimbabwe with unique EP+F model

SANY begins construction of a 10 MW solar power plant in Zimbabwe, the first African project integrating engineering, procurement and financing, while continuing its expansion in microgrids and hybrid solutions across the continent.

Global electricity demand set for robust growth until 2026 despite economic pressures

Global electricity demand is projected to grow steadily through 2026, driven by industrial expansion, data centres, electric mobility and air conditioning, with increasing contributions from renewables, natural gas and nuclear power.
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Carbon Ridge installs first centrifugal carbon capture unit on board a Scorpio Tankers vessel

Carbon Ridge reaches a major milestone by deploying the first centrifugal carbon capture technology on a Scorpio Tankers oil tanker, alongside a new funding round exceeding $20mn.

ArcelorMittal Brazil launches innovative hydrogen project with Utility Global in Juiz de Fora

ArcelorMittal Brazil begins a collaboration with Utility Global to develop a clean hydrogen project using the patented H2Gen system, aimed at producing up to 3 tons per day at the Juiz de Fora plant.

Petrobras Cuts Natural Gas Prices by 14% to Boost Brazilian Industry

The state-owned oil company adjusts its rates amid falling oil prices and real appreciation, offering up to $132 million in savings to distributors.
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Reliance, BP and ONGC Unite to Explore Saurashtra Offshore Basin

The consortium formed by ONGC (40%), Reliance (30%) and BP (30%) has signed a joint operating agreement for block GS-OSHP-2022/2, marking the first tripartite collaboration in Indian oil exploration.

European Commission investigates Adnoc’s acquisition of Covestro for EUR12bn

The European Commission opens an in-depth investigation into Adnoc’s purchase of German chemical group Covestro, questioning the potential impact of foreign subsidies and competition within the European internal market.

ENEC seals new strategic nuclear deals with Hyundai E&C and Westinghouse

Emirates Nuclear Energy Company signs two major agreements with Hyundai Engineering & Construction and Westinghouse, strengthening its position in the global civil nuclear market and paving the way for new international industrial opportunities.
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CNOOC Limited strengthens gas capacity with Dongfang 1-1 13-3 project

The launch of the Dongfang 1-1 13-3 project by CNOOC Limited marks a milestone in offshore gas development in China, bringing new investments in infrastructure and regional production.

Eco Wave Power installs its first wave energy floaters at the Port of Los Angeles

Eco Wave Power has completed the installation of floaters for its pilot project in Los Angeles, marking a strategic milestone in the validation and commercialisation of its wave energy technology in the US market.