OPEC slightly adjusts its production forecasts for 2025-2026 while projecting stable global demand growth, leaving OPEC+ significant room to increase supply without destabilizing global oil markets.
Three major players commit to developing five solar plants and two wind farms, with commissioning scheduled between 2027 and 2028 as part of Saudi Arabia’s national programme.
Asia dominated global new renewable energy capacity in 2024 with 71% of installations, while Africa recorded limited growth of only 7.2%, according to the latest annual report from IRENA.
Trade between Russia and Saudi Arabia grew by over 60% in 2024 to surpass USD 3.8 billion, according to Russian Minister of Industry and Trade Anton Alikhanov, who outlined new avenues for industrial cooperation.
Major oil producers accelerate their return to the market, raising their August quotas more sharply than initially expected, prompting questions about future market balances.
The Abu Dhabi Fund for Development has granted AED752mn ($205mn) financing to the Gulf Interconnection Authority to connect the electricity grids of the United Arab Emirates and Saudi Arabia, enhancing regional energy exchange.
Curve Energy Corp. has formalized a non-disclosure agreement with Saudi Aramco Technologies, allowing confidential exchanges of information as part of potential technological collaborations in the global market for low-sulfur marine fuels.
Italian group Pronur establishes itself in Saudi Arabia with support from AstroLabs, aiming to provide advanced technologies in the renewable energy sector and develop new industrial partnerships.
The potential closure of the Strait of Hormuz places Gulf producers under intense pressure, highlighting their diplomatic and logistical limitations as a blockage threatens 20 million daily barrels of hydrocarbons destined for global markets.
Confidential reports from the IAEA and multiple intelligence agencies confirm Iran's uranium enrichment to weapons-grade levels, contradicting Tehran's official statements. EnergyNews.pro retraces the evolution of Iran's nuclear program since 2015, three years before the Trump administration's withdrawal from the nuclear agreement.
Long a major player in OPEC, Iran sees its influence on the oil market significantly reduced due to US sanctions, Israeli strikes, and increasing reliance on exports to China.
In response to rising summer electricity consumption, Egypt signs import agreements covering 290 shipments of liquefied natural gas, involving major international firms, with financial terms adjusted to the country’s economic constraints.
Global photovoltaic tracker shipments rose 20% in 2024, driven by India and Saudi Arabia, pushing the United States to a less dominant market position.
According to a study published by The Oxford Institute for Energy Studies, two competing financial algorithms, Risk-Parity and Crisis Alpha, significantly influence oil markets, weakening the traditional correlation with the sector's physical fundamentals.
Kuwait is committed to reducing greenhouse gas emissions and achieving carbon neutrality by 2050. The plan integrates an increase in liquefied natural gas (LNG) imports, an extensive carbon capture project, and the development of electric vehicle infrastructure.
The continued increase in development costs of upstream oil projects is testing the economic viability of new oil production. A recent study by Rystad Energy reveals an increase in breakeven costs, while still remaining below current oil prices.
The global gas balance remains precarious in 2024, with modest LNG production growth despite record demand. Geopolitical tensions sustain price volatility in European and Asian markets.
Saudi Aramco has raised $3 billion via a sukuk issue, despite a drop in oil production.
The funds raised are intended to support the company's dividend commitments and capital expenditure projects.
ADNOC's Upper Zakum exports are falling, making it difficult to launch a futures contract for this medium-sulphur crude.
Liquidity and market challenges emerge as OPEC+ plans a quota increase.
Regulated carbon markets saw their prices rise in August, while the voluntary market faced difficulties linked to the quality of credits and a lack of liquidity.
Despite Western sanctions, Iran plans to increase its petrochemical exports in 2024-2025, bypassing restrictions through strategic partnerships with Russia and other markets.
BlackRock acquires a minority stake in Saudi Bahrain Pipeline Company (SBPC) to support the management of Bahrain's energy assets and explore new collaborations in infrastructure.
The UN is proposing a global traceability system for critical minerals, crucial to the energy transition, to prevent social and environmental abuses in their supply chain.
Spot prices for liquefied natural gas in Europe are in difficulty compared with long-term oil-indexed contracts, due to persistently low crude oil prices and winter uncertainties.
Saudi Arabia has identified Italy as a key partner for the export of green hydrogen to Europe, in response to growing demand for low-carbon energy solutions.
Under pressure from falling prices, OPEC+ decided to extend the production cut by 2.2 million barrels per day until December 2024 to maintain market balance.
The Houthis are stepping up their attacks on oil tankers in the Red Sea, disrupting shipping and influencing the region's geopolitical and energy balances.
Saipem wins two offshore oil engineering, procurement, construction and installation (EPCI) contracts with Saudi Aramco, worth a total of around 1 billion USD, for the Marjan, Zuluf and Safaniyah fields in Saudi Arabia.
Climate envoys from Washington and Beijing are meeting this week to strengthen cooperation on energy and climate policies, ahead of COP29 in Azerbaijan.
Egypt, faced with an energy crisis due to a drop in gas production, depends on financing from Saudi Arabia and Libya to secure its purchases of liquefied gas.
According to Rystad Energy, demand for hydrocarbons will remain high.
Premium energy basins such as Rub Al Khali and Gulf Deepwater are identified as strategic targets for maintaining production while reducing CO2 emissions.
BloombergNEF forecasts 592 GW of solar installations by 2024, marking 33% growth.
However, overcapacity and low prices are creating pressure on the supply chain.
The fuel oil market is expected to reach USD 260.1 billion by 2030, with average annual growth of 4.61%, despite the challenges posed by environmental regulations and price volatility.
