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            • Oil Market Report - June 2026

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                • Country

                Portugal

                …supporting decarbonisation through a wide variety of measures, such as, coal-fired generation was phased out in 2021. Portugal is further developing its large hydropower fleet, including additional capacity of pumped hydro storage. Portugal is an international leader for integration of wind generation, and auctions are driving rapid deployment of PV and battery storage. Portugal is pushing for better electricity interconnections with the rest of Europe. Portugal’s National Energy and Climate Plan sets 2030 targets for emissions reductions, energy efficiency and renewable energy that aim to put the country a path to achieving cost effective carbon neutrality by 2050.

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                • Country

                Luxembourg

                Luxembourg has a fossil fuel intensive energy mix driven by a high demand for transportation fuels, notably from transiting freight trucks and commuters. Despite this demand, the country is committed to reducing emissions. Its climate law sets targets for a 55% emission reduction by 2030 and climate neutrality target by 2050. The government has adopted numerous measures to push for energy transition, including a carbon tax which was introduced in 2020 and encouraging renewable generation through subsidies and auctions. Several programmes also support energy efficiency in buildings, industry and transportation, with a target for 49% of all passenger cars to…

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                • Country

                Bangladesh

                In Bangladesh, electricity is available for 85% of the population, up from 20% in 2000. Gas accounts for the majority of the country’s electricity production, even though wind, hydropower and solar PV shares are growing. Bangladesh has also implemented energy policy incentives towards the deployment of renewables.

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                • Country

                Lithuania

                …has undergone several energy transitions over the past decade. Despite importing a large share of its electricity, the country successfully ended its reliance on Russian energy imports in March 2022. Along with its neighbours, Estonia and Latvia, Lithuania disconnected from the Russian electricity system and completed the synchronisation of its grid with the Continental European Synchronous Area (CESA) in February 2025. By 2030, Lithuania aims to shift from being an electricity importer to becoming a net exporter. Although the country’s energy consumption still depends heavily on imported fossil fuels, the share of bioenergy in the domestic energy supply is…

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                • Country

                China

                China’s growing energy needs are increasingly met by renewables, natural gas and electricity. The scale of China’s future electricity demand and the challenge of decarbonising the power supply help explain why global investment in electricity overtook that of oil and gas for the first time in 2016, and why electricity security is moving firmly up the policy agenda. That said, cost reductions for renewables are not sufficient on their own to secure efficient decarbonisation or reliable supply.
                Between 2019 and 2024, China will account for 40% of global renewable capacity expansion, driven by improved system integration, lower curtailment…

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                • Country

                Finland

                Finland has one of the most ambitious climate targets, a legal obligation to reach carbon neutrality by 2035. It is making progress towards this target and has one of the lowest levels of reliance on fossil fuels among IEA member countries. Finland’s forests, which historically offset significant greenhouse gas emissions, have become a net emissions source. A continued push towards the energy transition is needed, as imported fossil fuels still account for over one-third of energy supply and cover higher shares in transport and key industries.

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                • + 5 pages

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                • Country

                Yemen

                In Yemen, less than half of the population has access to electricity. In 2010, the government launched a National Strategy for renewable energy and energy efficiency, which aims to develop grid and off-grid renewable energy and targets a 15% share of renewable electricity generation by 2025.

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                • Country

                El Salvador

                The National Energy Policy to 2024 of El Salvador guides the national actions on energy, following main principles: ensure high quality level and continuous and affordable energy access, decrease fossil fuel dependency and mitigate environmental and social impacts of energy projects.

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                • Country

                Norway

                Norway has set ambitious targets for reducing greenhouse gas emissions and establishing a low-emissions society by 2050. As an energy-rich country, Norway is in a unique starting position with respect to the energy transition. An abundance of affordable hydropower has enabled the development of energy-intensive industries and a high level of electrification of homes and businesses with limited greenhouse gas emissions. At the same time, as a major oil and gas producer and exporter, Norway will need to support an evolution of its energy sector amid the global energy transition. Altogether, Norway has the opportunity to lead…

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                • Country

                Malta

                The National energy policy of Malta was launched in December 2012. It lists decisions and actions that have already been implemented as well as measures aiming to ensure the sustainability of Malta's energy sector.

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