We are deeply honoured to be recognised as Best Consulting Firm 2026 at the Spanish Business Awards 2026 by EU Business News. This award is not only a recognition of Enerdealers’ work, but a reflection of the collective effort, trust, and commitment of an extraordinary ecosystem that has supported us throughout our journey.

The Iran war and the effective closure of the Strait of Hormuz have not caused a total supply breakdown for Europe, but they have clearly redrawn the continent’s diesel and gasoline map. The result is a faster shift toward the United States, Norway, the United Kingdom, Algeria, Saudi Arabia, India, and regional European hubs, while Gulf‑linked flows have become more expensive, slower, and less reliable.

The European Union’s new fertiliser action plan is a response to a structural problem, not just a price spike. Brussels is trying to protect farm incomes, stabilize food production, and reduce dependence on volatile external supply chains while keeping the transition toward lower-carbon agriculture on track. For market participants, the message is clear: the next phase of the fertiliser trade will reward suppliers that can combine security of supply, cost discipline, and comp

The 48th ASEAN Summit in Cebu was not just another diplomatic gathering. It became a stress test for Southeast Asia’s energy system as leaders confronted the spillover effects of the Middle East conflict, rising oil prices and the strategic risk of disrupted shipping through the Strait of Hormuz.

The main message from the FT Commodities Global Summit in Lausanne was that the market is no longer being shaped by supply and demand alone. Traders, producers and policymakers are now operating in a world defined by geopolitics, sanctions risk, tariffs, de-dollarisation, shifting alliances and increasingly volatile trade routes. Reuters’ coverage from the summit shows a sector that is still profit-driven, but far more cautious about where barrels, cargoes and capital will fl

Europe has no shortage of hydrogen ambition. What it still lacks is the combination of regulation, infrastructure, demand certainty, and financing needed to turn plans into bankable projects at scale. That is the gap the new European Resilience Alliance for Clean Hydrogen & Derivatives, or ERA, wants to close.

Temporary U.S. sanctions waivers on Russian and Iranian oil have acted less like a structural reset and more like a pressure valve for a market shocked by the Iran war. They briefly restored supply confidence, softened the immediate risk of a deeper crude and products squeeze, and bought time for refiners, traders and buyers to reposition—but they did not remove the underlying geopolitical premium, especially as the waivers now approach expiry.

Since early 2022, the Russia–Ukraine war and the escalating Iran–Israel confrontation have combined into a twin shock that has redrawn the global energy map. Together they have fractured long‑standing trade routes, birthed parallel market systems, and injected structural volatility into pricing, logistics, and policy.

As crude and LNG flows out of the Gulf are choked by attacks and the near‑closure of the Strait of Hormuz, governments and corporates are reframing renewable energy from a climate option to a national security imperative. This article unpacks what the conflict means for oil and gas balances, how it is reshaping risk premia and supply strategies, and why it is turbo‑charging investment narratives around renewables and storage.

The Trans‑Caspian International Transport Route (TITR) –the Middle Corridor– is emerging from the sidelines as a strategic, if imperfect, alternative for both containerized goods and selected energy flows between Asia and Europe. Initially framed as a workaround to war‑related risks in the Black Sea and the Red Sea, the Middle Corridor is now being stress‑tested by an unprecedented combination of container diversion, fuel trade rerouting and geopolitical pressure.

Spain’s green hydrogen story is moving from strategy papers to bankable reality. The latest milestone is Brussels’ approval of a 440 million euro Spanish aid scheme to support renewable hydrogen production through the European Hydrogen Bank’s “Auctions‑as‑a‑Service” (AaaS) mechanism. This second Spanish participation under the AaaS framework is financed with Recovery and Resilience Plan (PRTR) funds and is explicitly tailored to scale industrial‑grade electrolysis capacity.

Hydrogen is moving from vision to execution in the European Union: by early 2026 the regulatory framework for renewable (“green”) and low‑carbon hydrogen is largely in place, key funding pillars are operational, but real delivered volumes and infrastructure still lag far behind the 2030 targets of 10 million tonnes of domestic renewable hydrogen and 10 million tonnes of imports.

Spain’s biofuels industry is entering a scale‑up phase in which advanced HVO, SAF and biomethane are set to become the main growth and value drivers, while legacy FAME biodiesel and 1G ethanol stabilize under stricter sustainability and ILUC rules.

The year 2026 finds the global energy system at a crossroads defined by geopolitical fragmentation, accelerating decarbonization, and persistent market volatility. Major shocks of the early 2020s—most notably the post‑pandemic demand rebound, Russia’s invasion of Ukraine, and the ongoing restructuring of global trade flows—have fundamentally altered the set of assumptions that governed energy markets for decades.

Fossil fuels are no longer optional in the near term, yet their long-term dominance is increasingly questioned; biofuels and clean fuels are emerging as strategic bridges; and the energy transition’s contours are reshaping investment flows, infrastructure priorities, and risk management frameworks for energy and commodity traders.

Over the past five years, biofuels have continued to play a relevant role in Europe’s energy transition. Although often overshadowed by the rapid growth of electrification and renewable sources such as solar and wind power, biofuels remain essential in sectors like transport. Between 2020 and 2025, their consumption in the European Union reflected both the progress achieved and the tensions inherent in a transforming energy system.

The easing of the rules gives the hydrocarbon sector additional breathing space to adapt in an orderly way to the energy transition. By preserving a role for liquid fuels and transitional technologies, the EU creates room for innovation in e-fuels, advanced biofuels and lower-carbon industrial processes. Rather than a setback, the adjustment could offer the sector an opportunity to redefine its place in an increasingly decarbonised economy.

This is the full session video of the 21st edition of Energy Prospectives, that took place on November 13, 2025, at the Madrid Campus of IESE Business School. On this occasion, the series of high-level conversations between Naturgy Foundation and IESE included the participation of Jennifer M. Granholm, former Secretary of the US Department of Energy, and Martin Wolf, Deputy Editor and Economics Columnist at the Financial Times.

2022–2024 period depicts a fuel system in transition: structurally stable in aggregate yet increasingly differentiated across fuel families; anchored in diesel and conventional hydrocarbons, yet showing clear signals of diversification driven by tourism, mobility recovery, industrial cycles and emerging electrification. The trends observed here will shape the strategic and operational context for Spain’s energy, mobility and retail‑fuel sectors as the country moves deeper int

Enerdealers Observatory aims to support industry actors, policymakers, investors and analysts in forming a clearer view of Spain’s evolving energy reality. By providing both the numbers and the narrative, it enables informed decision-making in a context where the interplay between hydrocarbons and decarbonisation paths will define the structure of mobility and energy supply for the coming decade.