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OPEC Cuts Forecasts but Anticipates Rising Oil Demand

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.

Global business leaders gather in Beijing for inaugural SMI China forum on sustainable innovation

The SMI China Forum brings together international and Chinese leaders for dialogue on supply chains, investment and energy innovation, marking a major step in public-private sector cooperation.

Solar becomes the leading source of electricity in Pakistan

The rapid rise of solar energy is disrupting Pakistan’s electricity sector, forcing the government to revise its tariff policy and introduce new taxes on solar panel imports.
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Weichai Power launches 100% biodiesel research vessel in Singapore harbour

The launch of President 100, a harbour vessel powered exclusively by biodiesel, marks a new stage for the experimentation of alternative fuels in Singapore’s maritime sector.

BHP considers Australian “green iron” sector too costly despite China talks

Mining group BHP sees low-emission iron production in Australia as unprofitable, just as Canberra and Beijing announce closer cooperation to decarbonise the global steel industry.

CNOOC Limited achieves major breakthrough in offshore exploration in the Beibu Gulf

CNOOC Limited announces the discovery of a significant oil and gas reservoir in the buried hills of the Beibu Gulf, opening new opportunities for shallow water exploration off the coast of China.
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Brasilia Prepares Trade Countermeasures Amid New U.S. Tariffs of 50%

Brazil adopts new rules allowing immediate commercial measures to counter the U.S. decision to impose an exceptional 50% customs tariff on all Brazilian exports, threatening stability in bilateral trade valued at billions of dollars.

Trump mobilises USD92bn in private investment for AI and electricity in the United States

Nearly USD92bn will be invested by major American and international groups in new data centres and energy infrastructure, responding to the surge in electricity demand linked to the rise of artificial intelligence.

Global battery storage market to reach $143bn by 2031

Driven by rising electricity demand, the battery energy storage systems market is set to soar, according to The Insight Partners, growing from $41.97bn in 2024 to $143.28bn in 2031 at an average annual rate of 17.91%.
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Chinese trade-in programme cuts air-conditioning bills by $943mn

According to a report by Ember, the Chinese government’s appliance trade-in campaign could double residential air-conditioner efficiency gains in 2025 and trim up to USD943mn from household electricity spending this year.

European Commission Warns on Chinese Competition, International Agencies Respond

Several international agencies have echoed warnings by Teresa Ribera, Vice-President of the European Commission, about commercial risks related to Chinese competition, emphasizing the EU's refusal to engage in a price war.

European Union finalises agreement to lower Russian oil price cap

European Union ambassadors are close to reaching an agreement on a new sanctions package aimed at reducing the Russian oil price cap, with measures impacting several energy and financial sectors.
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China: Green Light for First Interprovincial Hydrogen Pipeline

China has approved the construction of a strategic pipeline to transport green hydrogen from Inner Mongolia to Beijing, facilitating supply to industrial zones around the capital and boosting a rapidly expanding energy economy.

Chimbusco Pan Nation delivers first batch of B30 marine gasoil in Hong Kong

Chimbusco Pan Nation completes its first B30-MGO delivery in Hong Kong for the shipping company Orient Overseas Container Line, confirming its strategy of diversifying into alternative fuels and meeting new international marine fuel regulations.

Global PV inverter shipments reach 589 GWac as Asia-Pacific dominates in 2024

Global photovoltaic inverter shipments increased by 10% in 2024, driven by the Asia-Pacific region, which accounts for nearly seven out of ten shipments, while China consolidates its influence on the sector.
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PDVSA oil sales abroad reach $17.5bn in 2024 despite sanctions

Petróleos de Venezuela S.A. (PDVSA) recorded $17.52bn in export sales in 2024, benefiting from increased volumes due to U.S. licences granted to foreign partners, according to an internal document seen by Reuters.

Three researchers win the 2025 Global Energy Prize for technological advances

Three scientists from China, the United States and Russia are laureates of the 2025 Global Energy Prize, honoured for their work on high-voltage power lines, fuel-cell catalysts and pulsed energy technologies.

Envision inaugurates the world’s largest green ammonia plant in China

Envision announces the official commissioning of the world's largest green hydrogen and ammonia plant in China, powered by an autonomous renewable energy system and entirely AI-driven, with exports planned from late 2025.
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Rio Tinto: five strategic priorities to close a 40% valuation discount

Rio Tinto’s new CEO inherits a significant stock market discount and will need to overcome major regulatory, operational, and financial hurdles to swiftly restore the company's appeal to international investors, according to a Wood Mackenzie analysis.

China Reaches Record Energy Demand Without Boosting LNG Purchases

Despite record electricity demand, China sees no significant increase in LNG purchases due to high prices and available alternative supplies.

SMR: EU authorizes 300 million euros in aid to Nuward

The European Commission has given the go-ahead for a 300 million euro subsidy to Nuward, an EDF subsidiary, for the development of SMRs aimed at strengthening the European Union's decarbonization and energy autonomy.

Europe leads the way in clean technology innovation

Europe is leading the way in cleantech innovation, but faces the rapid rise of China and financial obstacles, reveals a new report from the European Patent Office (EPO) and the European Investment Bank (EIB).

Battery storage growing at an unprecedented rate, but still not enough

Global growth in battery electricity storage was exceptional in 2023, but considerable expansion is needed to meet 2030 climate targets, according to the IEA.
Expansion Stockage Batteries

Expansion of electric vehicles reduces global demand for oil

The International Energy Agency (IEA) has revised upwards its forecast for a reduction in global oil demand due to increased sales of electric vehicles, supported by stronger policies in major markets.

Air Liquide: sales down 7.3% in Q1 2024

Air Liquide has announced a 7.3% decline in first-quarter 2024 sales to €6.65 billion, mainly due to lower energy prices and an unfavorable currency effect.

Japan: Fukushima water discharge into the sea halted

The Fukushima Daiichi nuclear power plant in Japan experienced a temporary interruption in the discharge of treated water into the Pacific Ocean, caused by a partial power cut on Wednesday.
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Chinese exports of petroleum products up sharply

In March, China saw its exports of clean petroleum products rise sharply, reaching a 14-month high after the Lunar New Year vacation.

China: Towards market domination of Venezuelan crude?

China could dominate Venezuelan oil purchases as India gradually withdraws, spurred on by new US sanctions.

Tensions in the Middle East: Stable oil supplies in Asia

Asian refiners are assessing the impact of tensions in the Middle East on freight and marine insurance costs, without fearing for the security of crude oil supplies.
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2023: Record growth for the global wind energy industry

In 2023, the global wind power industry installed a record 117 GW, demonstrating accelerated growth despite a difficult macroeconomic and political context.

Russia: Arc7 liquefied natural gas tankers face international sanctions

The construction of six Arc7 LNG carriers, planned for the Russian Arctic LNG 2 project, is causing divisions due to international sanctions.

Framatome and EDF make progress on Sizewell C nuclear project

Framatome, supported by EDF and Mitsubishi Heavy Industries, is leading the delivery of Sizewell C systems to support the UK's Net Zero targets.
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Systovi’s downfall: Impact of Chinese dumping

French solar panel manufacturer Systovi ceases operations, due to Chinese dumping and a volatile market.

The EU strengthens its solar sector with the European Charter

The European Union is stepping up its support for the solar sector with the new European Solar Charter, aimed at boosting local production.

China: Restructuring the carbon market

China plans to tighten carbon market rules for 2024-2025, potentially influencing emissions prices.

Tesla announces the elimination of more than 10% of its workforce

Faced with growing challenges, Tesla plans to lay off more than 10% of its global workforce.

IEA revises world oil demand downwards for 2024

The IEA cuts its oil demand forecast for 2024 due to low deliveries and reduced consumption, with implications for OPEC+ and non-OPEC+ producers.

Niger: $400 million advance for oil from China

Niger receives a $400 million advance from China to support the launch of its crude oil sales.
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Sinopec completes drilling of China’s deepest geothermal well

Sinopec completes drilling of the Fushen-1 geothermal well in Hainan, reaching a record depth of 5,200 meters to explore hot dry rocks.

Oil demand set to rise in 2024, says OPEC

OPEC predicts increased oil consumption in 2024, driven by transport and industrial growth, particularly in Asia and the Middle East.