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Coal Mid-Year Update 2025 Prices
In the last 12 months, all major coal price indices declined The global coal market has undergone a gradual normalisation since the peak of the 2022 energy crisis, when thermal coal prices soared above USD 400 per tonne across multiple benchmarks. This extraordinary price spike briefly saw thermal coal trading at a premium to coking coal.By 2023, as energy markets broadly recalibrated, coal prices began to ease. The traditional pricing hierarchy reasserted itself, with coking coal once again priced above thermal coal. This shift reflected a normalisation of market conditions, improving supply-demand balances. Notably, tight coking coal supply from…
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China’s Official Energy Finance in Emerging and Developing Economies Setting the scene
Regional imbalances in energy investment Global energy investment has steadily risen over the past decade and reached over USD 3.3 trillion for the first time in 2025. Clean energy investment trends are especially notable – with investments in a range of clean energy technologies and infrastructure, taken together, accounting for nearly two-thirds of global investments today. However, these headline numbers often mask a persistent trend: a gaping regional imbalance in global energy investment. After removing the share of investment going towards advanced economies and People’s Republic of China (hereafter, “China”), emerging market and developing economies (EMDE) other than…
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Overview graphic: key technology trends for EVs
GEVO 2026 - Chapter 8 Electric vehicles (EVs) are increasingly at the centre of innovation in the automotive sector, bringing advances that extend far beyond developments in batteries and power electronics, thanks to several mutually reinforcing factors. Key technology trends are aligning in favour of EVs Battery electric vehicles (BEVs) are mechanically simpler than internal combustion engine vehicles (ICEVs) or hybrids, making them more compatible with digitalisation and automation. The relative simplicity of electric drivetrains enables shorter development cycles for new vehicles, allowing emerging technologies to reach BEVs sooner than vehicles with other powertrains.While the transition from mechanical to software…
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Renewables 2025 Renewable transport
Renewable energy in transport is set to expand 50% to 2030 With greater use of renewable electricity, liquid biofuels, biogases and renewable hydrogen and hydrogen-based fuels, renewable energy consumption in transport is expected to rise 50% by 2030. The largest share of this growth (45%) will come from renewable electricity used for electric vehicles, especially in China and Europe.Road biofuels contribute the second-largest share (35%), with significant growth in Brazil, Indonesia, India and Malaysia, supported by tightening mandates and rising fuel demand. Aviation and maritime fuel use makes up 10% of growth, primarily owing to mandates in…
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Musa Erdogan
Energy Analyst.
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Key Questions on Energy and AI Executive summary
The AI and energy nexus continues to evolve rapidly The largest technology companies are contributing to a surge in data centre investment, as their capital expenditure exceeded USD 400 billion in 2025 – and is expected to jump by another 75% in 2026. Capital expenditure of just five technology companies is now larger than global investment in oil and natural gas production. Many jurisdictions are seeing project pipelines accelerate dramatically, although not all projects will come to fruition. Those that are moving forward are doing so at pace: the IEA’s unique satellite-based tracking shows that “artificial intelligence (AI) factories…
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Mohammed Bin Hamed Al Rumhi
Minister of Oil and Gas.
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Energy Efficiency 2025 Transport
How and where is energy used? Total final consumption in 2024 was over 450 EJ and has grown by around 25 EJ since 2019. Transport accounts for around 30% of global energy demand and have contributed around 10% of the growth in total demand since 2019. Road transport accounts for nearly 90% of total domestic energy demand. The remaining 10% is split between domestic aviation, domestic shipping and rail.In advanced economies, passenger cars dominate road transport demand, accounting for around 65% of the transport energy use. Trucks make up most of the remainder. Buses play a minor role in energy demand…
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Global EV Outlook 2026 Cutting through the noise
Cutting through the noise
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Kira West
Former World Energy Outlook Analyst.
