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A Wood Mackenzie report estimates required battery investments at $1.2 trillion to integrate an additional 5,900 GW of renewable energy, highlighting battery storage systems' key role in stabilising electrical grids.
North America registers record funding of $1.7 billion in the first quarter of 2025, driven by emerging innovative techniques exploiting previously inaccessible geothermal resources, according to recent analysis by Wood Mackenzie.

Energy Fuels extracts 638,700 pounds of uranium at Pinyon Plain mine

Energy Fuels Inc. announced record production of 638,700 pounds of uranium during the second quarter of 2025 at its Pinyon Plain mine in Arizona, significantly surpassing initial site performance forecasts.
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Golar LNG Limited has completed a private placement of $575mn in convertible bonds due in 2030, using part of the proceeds to repurchase and cancel 2.5 million of its own common shares, thus reducing its share capital.
Chinese company HyperStrong and Swedish firm Repono AB announce a strategic agreement to jointly implement large-scale energy storage projects totalling 1.4 GWh in Europe by the end of 2027.

Globeleq closes $300 million financing for landmark project

Globeleq and African Rainbow Energy finalise financing for Africa's largest standalone battery energy storage project, raising ZAR 5.4 billion ($300 million) from Absa and Standard Bank in South Africa.
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TotalEnergies will develop a 1.8 MW photovoltaic installation for Daehwa Pharmaceutical, covering approximately 20% of the annual energy requirements of the production site located in Hoengseong-gun, South Korea, under a 20-year agreement.
Shell Canada Energy announces shipment of the first liquefied natural gas cargo from its LNG Canada complex, located in Kitimat, British Columbia, primarily targeting fast-growing Asian economic and energy markets.

CBAK Energy invests $357 million in Malaysia with Anker Innovations

CBAK Energy and Anker Innovations jointly launch a battery cell manufacturing facility in Malaysia, with a commercial potential estimated at $357 million, further strengthening their strategic partnership in the lithium-ion battery sector.
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Matrix Renewables and Pioneer Community Energy have signed an energy capacity contract for a 22 MW battery storage project in Kern County, operational from early 2026.
Ramaco Resources officially opens in the United States the first mine dedicated to rare earths in seven decades, also inaugurating Wyoming's first new coal mining operation in over half a century during a ceremony attended by senior political officials.

Teréga and GRDF inaugurate Occitanie’s first biomethane reverse-flow station

Infrastructure manager Teréga and GRDF inaugurated in Auch, Occitanie, the region’s first biomethane reverse-flow station, designed to facilitate biomethane transfer from the distribution to the transport network, representing an investment of €3mn ($3.27mn).
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German energy group Badenova plans to invest $4.64 billion in its energy networks and capacity by 2050, including $232 million committed from 2025, according to the company's recently published annual financial results.
Quinbrook Infrastructure Partners announces full operational launch of Cleve Hill Solar Park, now becoming the largest active photovoltaic power plant in the United Kingdom with a total installed capacity reaching 373 MW.

Germany allocates €450mn to modernise Lower Saxony’s electricity grid

The European Investment Bank grants EWE AG historic €450mn financing for the installation of 2,600 km of underground power lines and the upgrade of over 1,100 substations in Lower Saxony.
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The Ignitis Group is starting the construction of three battery energy storage systems in Lithuania, with a combined capacity of 291 MW and a total investment of €130mn.
The official confirmation in June 2025 by the French government regarding the detection of significant natural hydrogen reserves in Lorraine, the Pyrenees, and Aquitaine could represent a major strategic turning point for national and European energy sovereignty. However, the technical, economic, and environmental challenges associated with its exploitation might slow its large-scale implementation.

The climate crisis intensifies economic risks linked to extreme weather events

Prolonged heatwaves and environmental disasters are intensifying, leading to significant financial impacts in the energy, agriculture, and real estate sectors, according to the latest UN and IEA reports.
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Ten multilateral development banks have approved global financing of $19.6bn for water-related projects in 2024, mainly aimed at low- and middle-income countries, according to a recent joint report.
European photovoltaic module manufacturer BISOL is integrating G12R solar cells into its product range, replacing the former M10 cells, to improve product performance and technological competitiveness starting from the second quarter of 2025.
Gazprom, affected by a historic $6.9bn loss in 2023, is offering Pakistani state-owned firm OGDCL its petroleum assets in Nigeria to strengthen its presence in Asia’s energy market, according to Pakistani sources.
Donald Trump urges control of oil prices following U.S. military action against Iranian nuclear facilities, amid escalating tensions around the strategic Strait of Hormuz, threatening to significantly impact global markets.

PermRock Royalty Trust distributes $539,693 following decline in oil sales

PermRock Royalty Trust announces a monthly distribution of $539,693 to unit holders, impacted by reduced oil volumes and prices in April, partly offset by increased natural gas sales.
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Permian Basin Royalty Trust announces a reduced distribution for June due to ongoing excess costs at Waddell Ranch properties and lower volumes from Texas Royalty Properties.
Three months after starting production, Norway’s Johan Castberg oil field, located in the Barents Sea, reaches its full capacity of 220,000 barrels per day, significantly increasing energy supplies to Europe.

Iraq Suspends Oil Projects Amid Regional Conflict and Strained Logistics

The Middle East conflict forces Iraq to delay certain oil developments, disrupting field operations despite temporary stability in production and exports amid growing logistical tensions.
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New U.S. estimates reveal nearly 29 billion barrels of oil and 392 Tcf of technically recoverable natural gas on federal lands, marking significant progress since the last assessment in 1998.
The United Kingdom tightens sanctions against Russia's oil sector by targeting twenty tankers operating in the "shadow fleet" and Rosneft Marine, amid rising crude prices exceeding the G7-imposed price cap.

Vallourec secures $50mn OCTG contract for drilling operations in Qatar

French manufacturer Vallourec will supply Qatar with premium OCTG tubes in a contract worth an estimated $50 million, supporting the planned expansion of oil and gas operations by 2030.
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SBM Offshore has secured an operations and maintenance contract from TotalEnergies for the FPSO GranMorgu unit, the first such project in Suriname, covering operational preparation and post-production maintenance for at least two years.
Maurel & Prom acquires additional stakes in two offshore oil blocks in Angola, consolidating its existing assets for an initial sum of $23mn, potentially rising based on market developments and production performance.

Weakened by sanctions, Iran loses influence on the global oil market

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.
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After several months of interruption following a major political upheaval, Syria's Banias refinery has shipped its first cargo of refined products abroad, marking a partial revival of its energy sector.
ExxonMobil and its partners have extended the production sharing contract for Block 17 in Angola, securing the continued operation of major infrastructure in a key offshore asset for Africa’s oil sector.

Egypt announces second oil discovery at Abu Sannan in three months

Egypt’s General Petroleum Company discovers a new oil field in Abu Sannan, producing 1,400 barrels per day, confirming growing interest in this mature Western Desert region.
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The South Sudanese government is collaborating with Chinese group CNPC to reactivate several major oil fields, aiming to stabilise national production affected by political instability and ongoing technical difficulties.
TotalEnergies takes 25 % of a portfolio of 40 exploration permits on the US Outer Continental Shelf, deepening its partnership with Chevron in the Gulf of Mexico’s deepwater.

Oil: OPEC maintains forecasts, Russia below production quota

OPEC confirms global oil demand estimates for 2025-2026 despite slightly adjusted supply, while several members, including Russia, struggle to meet their production targets under the OPEC+ agreement.
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Facing anticipated refusal from G7 countries to lower the Russian oil price cap to $45, the European Union weighs its options, leaving global oil markets awaiting the next European sanctions.
Starting August 15, the Dangote refinery will directly supply gasoline and diesel to Nigerian distributors and industries, expanding its commercial outlets and significantly reshaping the energy landscape of Africa's leading oil producer.