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.

In the last five years, green hydrogen has moved from a niche idea to a cornerstone of the European Union’s vision for decarbonisation. Although still in its early stages, this energy carrier — produced through electrolysis powered by renewable electricity — is shaping up as a critical tool for reducing carbon emissions in hard-to-abate sectors such as heavy industry, long-distance transport and chemical manufacturing.

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.

Critical minerals are essential to the energy transition, powering electric vehicles, renewable energy systems and energy storage technologies. Southern Africa holds nearly 30% of the world’s reserves, including cobalt, copper, graphite, lithium, manganese and platinum-group metals, yet attracts less than 10% of global exploration financing. Unlocking this potential is critical to strengthening global supply resilience and driving inclusive growth across the region.

On Monday, April 28, 2025, at exactly 12:33 pm (CEST), daily life across the Iberian Peninsula came to an abrupt halt. In just a few seconds, mainland Spain and Portugal — nearly 60 million people — lost electricity almost entirely. Trains stopped, traffic lights went dark, mobile networks became unreliable and hospitals switched to emergency generators. For many citizens, it was the first time they had experienced a blackout of such magnitude.

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