Union européenne

Iberdrola secures €2.5bn credit line from 32 international banks

Iberdrola strengthens its financial position with a new five-year credit facility, signed with 32 banks, to support investments in power grids and renewable energy, particularly in the United States.

Drax strengthens its lead as the UK’s top carbon emitter in 2024

Drax’s generation site recorded a 16% rise in its emissions, consolidating its position as the UK’s main emitter, according to analysis published by think tank Ember.

Syzygy Plasmonics and Velocys launch pioneering 500,000-gallon SAF project in Uruguay

Syzygy Plasmonics selects Velocys Fischer-Tropsch technology to equip the first commercial NovaSAF 1 plant, turning dairy waste biogas into sustainable aviation fuel.
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UK and Czech Republic sign agreement to accelerate civil nuclear development

London and Prague formalise a strategic partnership to develop the nuclear sector, focusing on small modular reactors and industrial cooperation on supply chains.

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.
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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.

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.
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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.

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.
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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%.

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.

BP raises second-quarter production forecast driven by US shale growth

BP revised upwards its production forecast for the second quarter of 2025, citing stronger-than-expected results from its US shale unit. However, lower oil prices and refinery maintenance shutdowns weighed on overall results.
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Britain anticipates massive surge in electricity demand by 2050

The National Energy System Operator forecasts electricity demand to rise to 785 TWh by 2050, underlining the need to modernise grids and integrate more clean energy to support the UK’s energy transition.

Hynamics UK and Hy24 join forces for £300mn green hydrogen project in Fawley

Hynamics UK and Hy24 have signed an exclusive agreement to develop the Fawley Green Hydrogen project, backed by the UK HAR2 scheme, to supply green hydrogen to ExxonMobil's petrochemical complex.

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.
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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.

SAEL Industries announces $954mn investment for solar plant in India

SAEL Industries will invest $954mn in a solar factory in Greater Noida, boosting Indian manufacturing capacity and supporting the national strategy to localise photovoltaic component production.

IEA: Global oil demand held back by China’s economy

Global oil demand is set to grow at a more moderate pace, below the one million barrels per day mark, mainly due to the slowdown in the Chinese economy, according to recent forecasts by the International Energy Agency (IEA).

The rebound in VLCC rates since the record low of 2023

VLCC tanker rates from the Gulf of Mexico to Europe and Asia are beginning to recover after a year of sharp declines, due to fluctuating demand for crude oil.

JetBlue strengthens its sustainable fuel supply with Aether Fuels

JetBlue and Aether Fuels sign agreement to produce sustainable aviation fuel from waste. The collaboration aims to accelerate the decarbonization of the aviation sector.
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Stellantis launches Chinese electric city car in Europe

Stellantis introduces the Leapmotor T03, a Chinese electric model assembled in Poland, targeting the entry-level market in Europe with a competitive price and 265 kilometers of range.

India: New agreement between Delectrik and NTPC for a 3MWh BESS

Delectrik Systems will deploy a 3 MWh storage system for NTPC in India, marking a milestone in the optimization of long-term storage for the NETRA campus.

Pro-nuclear countries call for global funding for civil nuclear power

Nuclear-friendly countries are calling on financial institutions and development banks to finance nuclear infrastructure and develop small modular reactors.
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14 financial institutions support nuclear expansion by 2050

Fourteen major financial institutions have pledged to support the global expansion of nuclear power to triple its capacity by 2050, marking a key step in the energy transition.

Companies struggle to maintain their investments in decarbonization

Large companies are reducing their investments in decarbonization due to geopolitical tensions, although regulations and consumer expectations continue to push them towards better management of their emissions.

Strategic shutdown of Cove Point LNG plant for annual maintenance

The Cove Point LNG plant, operated by Berkshire Hathaway Energy, is suspending operations for planned three-week maintenance, temporarily disrupting natural gas flows.
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Spain increases its green hydrogen ambition to 12 GW by 2030

Spain is stepping up its green hydrogen strategy, with a new target of 12 GW of electrolysers by 2030, marking a turning point in its energy policy.

Lower Chinese export quotas: Impact on LSFO’s Asian market

China's lower export quotas for LSFO led to an increase in imports from Singapore, stabilizing the Asian market despite increased supply from the West.

Zelestra obtains 132 million euros for its solar power plant in India

Zelestra has secured 132 million euros in financing for its 435 MW solar power plant in the Indian state of Rajasthan, confirming its expansion in India's renewable energy sector.
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Carbon capture projects must accelerate to achieve carbon neutrality

The development of carbon capture technologies is crucial to achieving decarbonization targets, but projects are not progressing fast enough according to experts.

American Battery raises US$150 million for new lithium-ion recycling plant

American Battery Technology receives US$150 million from the US government to build a second lithium-ion battery recycling plant, strengthening the strategic supply chain for critical metals.

60% of companies aim for carbon neutrality, but efforts deemed insufficient

More than half the world's companies are committed to carbon neutrality, but experts condemn the lack of concrete action to achieve this goal, despite ambitious announcements.
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Holtec chooses South Yorkshire for its first SMR plant in the UK

Holtec International has selected South Yorkshire as the location for its new Small Modular Reactor (SMR) plant, with the aim of supplying Europe and the Middle East while strengthening the UK nuclear supply chain.

China-Japan agreement on monitoring water discharges from Fukushima

Japan and China have reached an agreement for the independent monitoring of treated water discharges from the Fukushima nuclear power plant. This decision paves the way for a potential lifting of the Chinese embargo on Japanese fish products.

Sinochem closes third refinery in China due to low margins

The closure of Sinochem's third refinery in Shandong underscores the economic difficulties associated with rising crude costs and weak demand for refined fuel.
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Equinor to stop supplying blue hydrogen to Germany

Equinor terminates plans to export blue hydrogen to Germany due to excessive costs and a lack of commitment from European buyers, calling into question the planned offshore pipeline.

US invests $3 billion in 25 battery production projects

The U.S. Department of Energy is funding 25 projects to boost domestic battery production, reducing strategic dependence on China.