• Fuel report

        • Jun 2025

        Oil Market Report - June 2025

        …3 mb/d and 83.7 mb/d, respectively. Refining margins in May were at their highest levels since 1Q24. However, the rally in crude prices in early June squeezed profitability levels as gasoline, naphtha and fuel oil cracks weakened.Russian crude and product exports fell by 230 kb/d m-o-m to 7.3 mb/d in May, down 380 kb/d y-o-y. As oil prices slid, revenues declined by $480 million m-o-m to $12.6 billion, a plunge of $4.0 billion y-o-y. May’s crude export revenues hit their lowest…

        Oil Market Report - June

        • Country report

        • Mar 2025

        Unlocking Ukraine’s Hydrogen Opportunity: A Roadmap Policy recommendations for the coming 2-3 years

        …a methodology for hydrogen certification. Techno-economic analysis comparing production in Ukraine with other countries (from the importer’s perspective) will also be useful, as will setting up platforms for collaboration. Preparatory studies to inform the next steps could include identifying the risks that could affect different project types and the corresponding mitigation measures, mapping the international funding programmes that could be used to finance hydrogen deployment and assessing the interest from foreign companies to develop hydrogen projects in Ukraine. Mitigate financial risks introduced by the war Hydrogen production from electrolysis is highly capital-intensive. Any additional premium on the…

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        • Country

        Slovak Republic

        …end‐use sectors, reducing energy intensity, reducing dependence on energy imports, expanding the use of nuclear power, increasing the share of renewables in the heat and electricity sectors, and supporting the use of alternative fuels for transport. With these sound objectives in place, the government should now focus on the cost‐effective implementation of concrete actions. Mining of coal for electricity production ended in 2023 and an additional nuclear unit was commissioned. The country remains dependent on energy imports from Russia, making energy security a strong focus area and the diversification of supply, fuels and renewable capacity need to accelerate.

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        • Policy report

        • Apr 2026

        State of Energy Policy 2026 Executive summary

        …accounting for 95% of global oil imports have adopted stockholding and emergency response legislation, with requirements varying from 16 to 90 days of net imports. More recently, natural gas stockholding requirements have expanded, with gas storage requirements and strategic buffers adopted in close to 30 countries since Russia’s invasion of Ukraine in 2022. Such measures are now in place in importing countries accounting for more than 40% of natural gas imports, compared with 11% in 2010. Disruptions resulting from the conflict in the Middle East have prompted the use of these emergency measures, including the collective action decision of 11 March 2026…

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        • Country

        Armenia

        Imports of oil and gas cover 77% of Armenia’s energy needs. Current energy policy is focused on developing indigenous energy sources, mainly renewable, and on replacing the country’s main nuclear reactor. Energy Efficiency policy has also become a bigger priority as energy security and reliability remain key focus areas. Armenia is part of the EU4Energy Programme, an initiative focused on evidence-based policymaking for the energy sector.

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        • Fuel report

        • Oct 2025

        Oil Market Report - October 2025

        …while oil on water dropped 8 mb. Preliminary data for September show sharply higher oil stocks, led by a 102 mb build in oil on water.In calm trading, benchmark crude prices were little changed in September, as a looming supply surplus dampened the bullish impact of heightened Ukraine tensions and fresh sanctions against Russia and Iran. Price volatility continued to languish at historical lows. At the time of writing, ICE Brent futures were trading at around $64/bbl – down approximately $11/bbl year-to-date. Stocking up The oil market has been in surplus since the start of the…

        10 October

        • Country

        Estonia

        Estonia has achieved a notable reduction in greenhouse gas emissions thanks mainly to lowering its reliance on electricity generation from domestic oil shale, an energy rich sedimentary rock. However, oil shale remains the main energy source and imported fossil fuels still plan a major role, especially in transport. Estonia’s forests, which historically offset significant greenhouse gas emissions, have become a net emissions source. Estonia is aiming to accelerate its clean energy transition with a target to cover 100% of annual electricity demand with renewables by 2030 as part of a larger package to achieve climate neutrality by 2050. It…

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        • Country

        Türkiye

        Rapid economic and population growth in Türkiye over the past two decades have not only driven strong growth in energy demand, but also an associated increase in import dependency. As a result, Türkiye has pursued a restructuring of its energy system with the aim of rationalising energy demand growth, lowering energy prices and slowing the pace of import growth.
        These reforms have included measures targeted at modernisation, liberalisation and increased domestic production capacity. Notably, Türkiye has seen considerable diversification of its energy mix in the past decade. Renewable electricity generation has tripled in the past decade and the commissioning of…

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        • Country

        Uruguay

        In 2010 the Ministry of Energy, Mining and Industry of Uruguay approved Decree 354 on the Promotion of Renewable Energies meant to increase dramatically the share of electricity generation from renewable sources in the country.

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        • Country

        Poland

        Poland’s energy system has seen progress on energy transition, despite its reliance on domestic hard coal and lignite. For example, Poland has one of the fastest growing solar PV markets in the European Union and has also seen a strong uptake of heat pumps. Poland is pushing to become a major player in offshore wind, aiming for at least 3.4 GW of capacity by 2030. However, stronger efforts are needed across all sectors to accelerate energy transition and Poland would benefit from greater electricity interconnections with the rest of Europe.

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