Latest news with #IAE
ABC News
15-05-2025
- Automotive
- ABC News
Strong Chinese demand pushes global EV sales to 20 per cent of market share
The share of electric car sales climbed to 20 per cent of all vehicles sold in 2024, according to a new report by the International Energy Agency. Sales growth was strongest in China, where 11 million EVs were sold, making up almost half of all Chinese vehicle sales. South-East Asian and Latin American markets were hot spots for sales increases over 2024, jumping by 50 per cent compared with 2023. Growth lagged in the European Union and the United States, where sales grew by 20 per cent 10 per cent respectively. "We know there are economic, trade and technology uncertainties in the world now, and questions about whether sales are going up or down," IAE executive director Faith Birol said. "Our numbers show that despite many headlines saying EVs were not doing good in terms of sales, our numbers show another record of 17 million EVs, or an increase of 20 per cent compared with the previous year. "Some emerging countries are seeing strong growth in EV sales, albeit from a low base, especially Vietnam, Thailand, Brazil Indonesia and elsewhere." Australian sales of battery electric vehicles, plug-in hybrids and fuel cell electric vehicles rose by 14 per cent from 98,000 in 2023 to 112,000 in 2024. Sales of plug-in hybrid vehicles, which contain a battery and internal combustion engine, saw the strongest increase, rising from 11,000 in 2023 to 21,000 in 2024. Battery electric vehicle sales rose by nearly 6 per cent, from 87,000 in 2023, to 91,000 in 2024. According to the Electric Vechile Council the most popular models sold in Australia were the Tesla Model Y and Model 3, and BYD Atto and Seal. A small number of fuel cell electric vehicles, like the Toyota Miraim, have been sold in Australia since 2021 and are predominantly used as fleet vehicles. While China is expected to maintain its dominance in EV sales and manufacturing over the coming years, vehicle emissions standards in the United Kingdom and EU are tipped to drive higher sales in those markets. "These policy pushes are expected to drive up electric car sales in Europe in 2025 to reach a sales share of 25 per cent, despite flexibility given to automakers for meeting the 2025 EU emissions reduction target," the report said. By 2030, the IEA expects EV sales to climb to 40 per cent of all vehicles sold globally, with China remaining the dominant market. In that year, EV sales are pegged at 80 per cent of all vehicles sold in China. The EU's current targets for CO2 emissions have the potential to drive the EV sales share to 60 per cent of sales in that market, while the US is only expected to hit a sales share of 20 per cent. Trade and industrial policy, charging technology and the concentration of critical minerals processing are expected to be significant forces shaping the future direction of EV sales are around the world. The EU, Canada and the US all have steep tariffs of up to 100 per cent on Chinese-made EVs. China's dominance in rare earth, lithium, cobalt, nickel and graphite processing was described as "not good news" for the future of the industry by Mr Birol. "This concentration is not good news, China is dominating this game big time," he said. "In terms of energy security, one of our golden rules is diversification, and if want to see more diversification in EVs there is a need for other countries and other companies to be significant players in the game." In the EU and US, battery electric vehicles are still, on average, more expensive than a conventional internal combustion engine (ICE) counterpart, the IEA report said. In Germany, an EV was 20 per cent more expensive than an ICE alternative, while US EV prices were 30 per cent higher. Chinese manufacturers offering EVs in emerging markets were a key driver of sales, with EV and ICE vehicle prices reaching parity in Thailand, and the gap shrinking to 25 per cent in Brazil, compared to 100 per cent in 2023. The IEA said the gap between ICE and EV prices in Mexico fell to 50 per cent in 2024, from 100 per cent the year prior, driving sales of Chinese imports up to 66 per cent of all sales. Mr Birol said analysis of the life-time costs of running an EV were cheaper than a conventional car. "On a kilometre-driven basis, on the data we have today with oil at $US66 a barrel, in all key markets it is cheaper to run your car with electricity," he said. Demand for EV batteries is expected to drive overall battery demand from now until 2023, according to the IEA. But demand is expected to be super-charged by the wider adoption of electric heavy vehicles, including trucks and buses, which grew by 80 per cent in 2024, mainly driven by China. There was no change to the average range of EVs in 2024, which is estimated at 340km across all models. "As market competition intensifies, the fact that average range has stabilised in the past year could indicate that car makers have found an optimal balance between range performance and vehicle manufacturing costs," the report said. The IEA expects 20 million EVs to be sold in 2025.
Zawya
29-04-2025
- Business
- Zawya
Invest in African Energy 2026 Forum Confirmed for May 11–12 in Paris
Energy Capital&Power (ECP) ( is pleased to announce that the fourth edition of the Invest in African Energy (IAE) Forum will return to Paris on May 11–12, 2026, with a sharpened focus on frontier exploration, early-stage project development and upstream investment opportunities. Building on three highly successful editions, IAE continues to serve as the premier platform for global explorers, investors and African energy leaders to connect, collaborate and catalyze the next wave of discoveries. Held in Europe's leading financial and diplomatic center, IAE 2026 will convene energy ministers, national oil companies, utilities, regulators and global investors for two days of strategic dialogue and high-level engagement. This edition will introduce an enhanced focus on the exploration community and its broader ecosystem – from geologists and service companies, to governments and capital providers. With over 150 oil and gas blocks available for bidding across more than 10 African markets in 2025, the continent is experiencing an exploration resurgence, presenting opportunities in both mature and frontier regions. IAE will serve as the premier platform for accessing these opportunities, exploring the latest data rooms, showcasing seismic and subsurface innovation and fostering early-stage collaboration among IOCs and NOCs. Several high-impact licensing rounds are already lined up for 2026, signaling new momentum across Africa's exploration landscape. Equatorial Guinea has relaunched its open-door licensing process, paving the way for a major licensing round by late 2025 or early 2026. Angola is planning to repeat its multi-year licensing round for oil and gas acreage starting in 2026, while Namibia is lining up new offshore licensing opportunities from 2025 that are expected to continue into the following year. Uganda also plans to issue new exploration licenses in the 2025/2026 fiscal year. In addition, several licensing rounds launched in 2025 will carry over into 2026, offering continued momentum and opportunity for exploration-focused stakeholders. More than just a development-focused event, IAE 2026 is setting the stage for the next era of African oil and gas exploration. With operators and developers expected to invest $43 billion in Africa's oil and gas sector in 2025 — and capital expenditure projected to reach a decade-high of $54 billion by 2030 — Africa's role in the global energy landscape is only set to grow. IAE responds directly to this momentum, serving as a launchpad for cross-border investment, strategic partnerships and early-stage project financing. The forum is purpose-built to engage geologists, upstream strategists, service providers and capital partners looking to unlock the continent's vast untapped hydrocarbon potential. 'IAE has become the definitive meeting point for Africa's energy stakeholders and global capital markets. We're especially focused on amplifying exploration in 2026 – shining a spotlight on frontier plays, licensing opportunities and early-stage assets ready for partnerships. With preparations underway, we are committed to sustaining this platform's growth and delivering another high-impact edition in 2026,' said Sandra Jeque, Events&Project Director at ECP. In previous editions, the forum has welcomed official delegations from over 20 African countries, hosted exclusive ministerial panels and investor roundtables, and featured hundreds of B2B meetings that have laid the foundation for tangible, cross-border cooperation. By spotlighting Africa's exploration resurgence — from untapped basins and high-impact drilling campaigns to recent regulatory shifts — the forum will offer clear value to IOCs evaluating global priorities, while outlining what the exploration landscape looks like and what investors need to know to engage effectively. More information on the 2026 program, speaker lineup and sponsorship opportunities will be announced in the coming months. Distributed by APO Group on behalf of Energy Capital&Power.
Zawya
23-04-2025
- Business
- Zawya
Democratic Republic of the Congo's (DRC) Hydrocarbons Minister to Speak at Invest in African Energy (IAE) 2025 Amid Renewed Exploration Drive
The Democratic Republic of the Congo's (DRC) Minister of Hydrocarbons, Aimé Sakombi Molendo, is confirmed to speak at Invest in African Energy (IAE) 2025 in Paris next month. His participation underscores the DRC's commitment to revitalizing its hydrocarbons sector through strategic reforms, regional partnerships and renewed investor engagement, following recent exploration breakthroughs and cross-border agreements. With an estimated 5 to 22 billion barrels of oil reserves, the DRC is advancing a pro-investment agenda focused on enhancing transparency, improving operational efficiency and accelerating upstream activity – efforts that are already yielding results. In May 2024, Perenco's subsidiary, Muanda International Oil Company, achieved the DRC's first offshore oil discovery in nearly three decades with the Moke-East well in the Coastal Basin. To fast-track exploration and strengthen national participation, the government also recently approved a decree granting state-owned S ociété Nationale des Hydrocarbures du Congo the rights to Blocks 1 and 2 in the Albertine Basin, one of the country's most promising zones for oil exploration. IAE 2025 ( is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit To sponsor or participate as a delegate, please contact sales@ In a key regional development, the DRC and Angola signed new terms for the co-development of offshore Block 14 during the Angola Oil&Gas 2024 conference. Straddling the maritime border between the two nations, Block 14 boasts a production capacity of 3.29 million barrels per year and is operated by Chevron's local subsidiary, Cabinda Gulf Oil Company, alongside partners Eni, etu energias and Sonangol. The agreement, formalizing nearly two decades of negotiations, is poised to encourage further investment and strengthen cross-border petroleum trade. Minister Molendo's presence at IAE 2025 will offer delegates valuable insights into the DRC's evolving energy landscape – spanning hydrocarbons, energy and mining – and the government's integrated approach to sustainable resource development. As the DRC strengthens linkages across its extractive industries, the Minister is expected to outline emerging opportunities in exploration, infrastructure and local content development. He joins a high-level lineup of African energy leaders, including ministers from Nigeria, the Republic of the Congo, Mauritania, Gabon, Guinea-Bissau and Liberia, underscoring the summit's role as a premier platform for pan-African energy dialogue and investment. Distributed by APO Group on behalf of Energy Capital&Power.
Zawya
22-04-2025
- Business
- Zawya
Powering the Future: Energy Leaders to Tackle Africa's Grid Challenges at Invest in African Energy (IAE) 2025
As Africa faces a sharp rise in electricity demand driven by population growth, industrialization and rapid urban expansion, the continent's power sector is at a critical juncture. At Invest in African Energy (IAE) 2025, taking place next month in Paris, a high-level panel on Revolutionizing Power Generation in Africa will bring together industry leaders to examine how a multi-pronged energy strategy can transform the continent's electrification landscape. Moderated by Paul Hickin, Chief Economist&Editor in Chief at Petroleum Economist, the panel will feature Jerome Bertheau, Executive Vice President of Global Projects at BW Energy; Christoffer Ek, Director of Decarbonization Services at Wärtsilä Energy; and Silvia Macri, Director at S&P Global Commodity Insights. The conversation will explore a blended approach to power generation – integrating renewable and conventional energy sources, grid and off-grid solutions, and cutting-edge storage technologies – to chart a realistic pathway toward sustainable energy access in Africa, while addressing the urgent need for scalable, resilient and inclusive energy solutions. IAE 2025 ( is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit To sponsor or participate as a delegate, please contact sales@ Africa's current power generation capacity falls short of its development needs, with more than 600 million people lacking access to electricity. While renewables like solar and wind are gaining traction, the transition to sustainable energy requires a balanced and diversified energy mix, with gas-to-power playing an increasingly important role. In Namibia, BW Energy is advancing its flagship Kudu gas-to-power project, which will supply up to 885 MW of electricity using gas from the offshore Kudu field, helping to strengthen both national energy security and regional grid stability. Meanwhile, with projects including the Sandiara gas-to-power plant in Senegal and the Soyo II combined-cycle plant in Angola, among others, African nations are advancing large-scale integrated gas projects to tap into underutilized reserves and support their electrification agendas. As such, the Revolutionizing Power Generation in Africa session will explore how flexible power solutions can be integrated with renewable energy technologies to enhance grid stability and support the transition to cleaner, more reliable energy systems. As a key developer in the drive towards grid stability, Wärtsilä Energy is powering Africa's mining and industrial sectors with projects including a 17 MW plant in Senegal, a 50 MW captive power plant in Nigeria, O&M contracts in Zambia and Madagascar and maintenance of power plants in Morocco. These efforts highlight the growing importance of hybrid and modular energy systems in meeting Africa's evolving electricity needs, which will be discussed at the upcoming forum. Distributed by APO Group on behalf of Energy Capital&Power.
Zawya
22-04-2025
- Business
- Zawya
Neuman & Esser to Participate at Invest in African Energy Forum in Paris
German technology leader Neuman&Esser will join the upcoming Invest in African Energy (IAE) 2025 forum in Paris, with Nmesoma Francess Okereke, Sales Manager - Flare Gas Recovery Specialist, and Dr. Jiří Rus, Sales Director for Africa, participating in a technical presentation and panel discussion focused on advancing gas monetization and energy efficiency across the continent. Neuman&Esser brings over a century of expertise in gas compression, flare gas recovery and energy transition technologies. Specializing in high-performance compressor systems and green hydrogen solutions, the company plays a pivotal role in helping nations optimize energy production, reduce emissions and accelerate the shift to sustainable energy systems. By transforming flare gas into usable energy, Neuman&Esser supports operators in meeting environmental and regulatory goals, offering scalable, end-to-end solutions that combine German engineering with on-the-ground expertise to maximize resource value while aligning with global sustainability standards. The company will present on 'Flare Gas Utilization – The Importance of Mid-Scale Integrated Gas Commercialization Solutions' at the upcoming forum. IAE 2025 ( is an exclusive forum designed to facilitate investment between African energy markets and global place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit To sponsor or participate as a delegate, please contact sales@ Germany has been significantly expanding its investments in Africa in recent months, particularly in green energy and sustainable projects. The country has pledged €4 billion for green energy initiatives on the continent by 2030 and is advancing hydrogen and gas partnerships through the European Union's Global Gateway initiative. In December 2024, Germany further demonstrated its commitment by investing R5.2 billion in South Africa to support the country's energy transition and strengthen bilateral cooperation. In Namibia, German investors have partnered on the $10 billion Hyphen Green Hydrogen Project, aiming to utilize the country's abundant solar and wind resources to produce green ammonia for global export. In December 2024, German President Frank-Walter Steinmeier visited Nigeria to discuss the future prospects for German-Nigerian energy collaboration, further solidifying the growing energy ties between Germany and the continent. The IAE 2025 Forum serves as a crucial platform for connecting global capital and expertise with Africa's burgeoning energy sector. As European and global investors continue to deepen their investments and partnerships across the continent, the forum provides a unique opportunity to further explore collaborative efforts and advance Africa's energy transition. By bringing together key players from the global energy community, IAE 2025 will play a pivotal role in driving sustainable growth and innovation in Africa's energy future. Distributed by APO Group on behalf of Energy Capital&Power.
