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            • Oil Market Report - June 2026

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                • Country

                Bosnia and Herzegovina

                Bosnia and Herzegovina adopted a National Environmental Action Plan, which provides action path to address the major environmental issues of the country. In the energy sector the target will be achieved by increasing energy efficiency and usage of renewables (hydro, solar, wind and geothermal energy).

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                • + 5 pages

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                • Country

                Azerbaijan

                Azerbaijan has one of the highest energy self-sufficiency ratios in the world as a major crude oil and natural gas producer. While the renewable sector has not seen as much attention, the government is now looking to stimulate investment and accelerate deployment, allowing for diversification of domestic energy consumption. In addition, the government is working on a new energy strategy that will set the stage for further policy shifts. Azerbaijan is part of the EU4Energy Programme, an initiative focused on evidence-based policymaking for the energy sector.

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                • + 5 pages

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                North Macedonia

                North Macedonia

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                • Country

                Belarus

                Energy policy in Belarus focuses on providing reliable energy while reducing import–dependence, particularly on natural gas from a single supplier. The government is contemplating attractive investment measures and fuel diversification to reduce natural gas consumption and include more coal and renewables into the country's energy mix, while developing local energy sources and introducing nuclear power.

                Belarus has also prioritized improving energy efficiency in electricity and heat production and is phasing out subsidies for electricity, heat and gas, which is expected to make the energy sector more market-focused and investor-friendly. Belarus is part of the EU4Energy Programme…

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                • + 5 pages

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                • Country

                Democratic Republic of the Congo

                The Democratic Republic of the Congo has huge hydropower potential while also dealing with extreme energy poverty. Foreign investors are currently partially lifting constraints on the country’s hydropower capacity, which is bringing down the costs of power supply and reducing the share of oil-fired power.

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                • + 5 pages

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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

                Russia

                Russia is the world’s second-largest producer of natural gas, behind the United States, and has the world’s largest gas reserves. Russia is the world’s largest gas exporter. In 2021 the country produced 762 bcm of natural gas, and exported approximately 210 bcm via pipeline.

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                • + 5 pages

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                • Country

                Kyrgyzstan

                Kyrgyzstan’s hydro-rich energy sector is characterised by aging infrastructure and significant losses, which are exacerbated by a combination of weather-related shocks and growing demand. Energy policy aims to improve energy security by developing indigenous energy sources and rehabilitating and expanding transmission and distribution networks. Developing sustainable energy and improving energy efficiency are also priorities, while slowly removing subsidies will allow for further investment and expansion of domestic resources. Kyrgyzstan is part of the EU4Energy Programme, which is focused on evidence-based policymaking in the energy sector.

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                • + 5 pages

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                • Country

                Ethiopia

                In Ethiopia, while electricity reaches less than half of the population, great progress has been made over the past two decades. The National Electrification Program, launched in 2017, outlines a plan to reach universal access by 2025, aiming to supply 35% of the population with off-grid solutions. Meanwhile, Ethiopia is diversifying its hydro-dominated installed generation mix in favour of solar, wind and geothermal to pursue a more climate-resilient power system and reach economic development objectives.

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                • + 5 pages

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                • Country

                Zambia

                Coal production is set to increase in Zambia, but exports remain limited to trade with neighbouring countries. The country has recently made good progress regarding electrification rates through a large push for mini-grid and off-grid solutions in rural areas.

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                • + 5 pages

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