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China’s Official Energy Finance in Emerging and Developing Economies Case 6. CNOOC investment in Guyana: Whiptail Oil Field
Project overview and impact Guyana has become a dynamic upstream oil market, transforming from a non-producer to an emerging oil exporter within the decade. Since the first discovery of oil in the Stabroek Block in 2015, six large-scale developments have been approved, turning the area into a central pillar of the country’s economic strategy. Production is expected to exceed 1.3 million barrels per day by 2027, making Guyana one of the largest per-capita oil producers globally. The government’s production sharing contract allocates 14.5% of total crude output to the state, with the remainder…
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Financing the Modernisation of Power Systems Beyond Coal
…energy security, complicates efforts to accelerate coal transitions. Recent volatility in international gas markets has reinforced the short‑term economic and security value of existing coal assets, adding complexity to national transition strategies. The region’s young coal fleet also implies substantial long‑term emissions if plants continue operating at current utilisation rates.Against this backdrop, new approaches are being explored to support coal transitions while maintaining secure and reliable power systems. This report examines the potential role of transition credits as a market‑based instrument to support coal transitions in Southeast Asia. It analyses the scale of emissions from existing coal fleets, options…
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Global Energy Review 2026 Oil
…States and China. Overall, feedstock use of oil was flat across advanced economies.Transport demand was lower in Japan and Korea and marginally higher in the European Union. Rises in fuel use in advanced economies were largely restricted to aviation. Improving vehicle efficiencies, particularly due to new hybrid vehicles, and incremental electrification were sufficient to offset rising activity. This resulted in flat road fuel demand in advanced economies in 2025.Emerging market and developing economies accounted for nearly all of the increase in oil use in 2025, with their demand rising by 600 kb/d or 1.2%. More than…
- Key findings
- Global trends
- Oil
- Natural gas
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+ 9 pages
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Iran
Iran has in place legislation obliging the Minister of Energy to increase the share of renewables and clean power plants to at least 5% of the country's capacity until the end of 2021.
- Overview
- Energy mix
- Emissions
- Electricity
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+ 5 pages
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Argentina
…variable renewables, taking advantage of its rich solar and wind resources. The country has set a goal for non-hydro renewables to reach 20% of the power mix by 2025 and recent efforts have triggered increased deployment (2021: 12.5%).
Argentina is the world’s fourth largest lithium producer, a mineral critical for the manufacture of battery storage systems and, therefore, for the energy transition. Argentina is among the first Latin American countries to achieve universal electricity access, with a successful programme on rural electricity markets accelerating the connection of remote last miles users to the grid in recent years.- Overview
- Energy mix
- Emissions
- Electricity
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+ 5 pages
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Asset values
…This is often known as a “split incentive.” However, evidence from the United States suggests that energy efficiency improvements are associated with reduced vacancy and tenant turnover, which reduces associated transaction costs and provide an incentive for landlords to invest. Need more information? Eichholtz, P. (2024), The Impact of Minimum Energy Performance Standards on the Commercial Real Estate Market.Zitouny, S. (2024), On the capitalization of energy labels on the French housing market.Amaral, F. et al., (2024), Green Signals: Energy Efficiency and German Housing Markets.Pigman, M. (2022), How Does Home Energy Score Affect Home Value and Mortgage Performance?
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National Climate Resilience Assessment for Mozambique
Mozambique’s energy system has experienced significant disruptions due to extreme weather events, notably tropical storms and cyclones. With climate change, storms are projected to intensify, as are the risks of seasonal droughts and floods, posing a threat to the reliable operation of hydropower generation and the secure operation of the country’s coal mines. Mozambique’s plans to diversify its energy supply are an important step to enhance energy security and could be complemented by targeted measures to make its electricity system more resilient to natural hazards. Storms and tropical cyclones present the most regular extreme weather event faced…
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An Energy Sector Roadmap to Net Zero Emissions in Colombia
World Energy Outlook Special Report Colombia has set an ambitious goal to achieve net zero greenhouse gas emissions by 2050. The third-largest country in Latin America and the Caribbean by population, it has seen stable economic and population growth over past decades. A large part of its energy mix is made up of fossil fuels, largely oil, while hydropower provides most electricity. Colombia has abundant untapped solar and wind resources and a strong base of clean energy potential.At the request of the Government of Colombia, the IEA has developed a roadmap to net zero by 2050 for the…
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International Shipping
Country and regional highlights
Advances in emissions regulations and technologies to decarbonise shipping
CO2 emissions
CO2 emissions from international shipping continued to rebound in 2022 following a dip in 2020
Energy
Scaling up low-emission fuels is the key to decarbonising international shipping
Technology deployment
Methanol-fuelled fleet increasing in near-term
Innovation
Industry continues to develop zero-emission vessels
Supporting infrastructure
Policy
International collaboration
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New IEA report highlights options to ease oil price pressures on consumers in response to Middle East supply disruptions
…petroleum gas (LPG).Restoring transit through the Strait of Hormuz remains essential to stabilise global energy markets. In the meantime, countries are acting on both supply and demand. On 11 March, IEA Member countries agreed to release 400 million barrels of oil from emergency reserves – the largest stock draw in the Agency’s history. However, supply-side measures alone cannot fully offset the scale of the disruption. Addressing demand is a critical and immediate tool to reduce pressure consumers by improving affordability and supporting energy security.A new IEA report identifies ten measures that can be implemented quickly by governments…
