Rystad Energy

22/05/2026

🔋 GE Vernova has flagged a potential shortage of yttrium-stabilized zirconia - the thermal barrier coating that prevents turbine blades from failing at peak operating temperatures.

Without it, turbines can’t run at full performance. And those same turbines are now core to powering AI data centers.

Supply? China-controlled.

This is what the critical minerals constraint looks like in practice: not a future risk, but a present-day bottleneck across AI infrastructure, defense and the energy transition.

This week’s Let’s Talk Energy maps the full picture:
• How China built this dominance
• Why subsidies won’t close the gap
• What next-gen processing tech could change the equation

🎧 Listen now: https://rystad.info/4dySC9G

21/05/2026

The Middle East crisis is repricing the energy transition, not reversing it.

𝗘𝗻𝗲𝗿𝗴𝘆 𝘀𝗲𝗰𝘂𝗿𝗶𝘁𝘆 𝗶𝘀 𝘁𝗵𝗲 𝗳𝗶𝗿𝘀𝘁 𝘀𝗵𝗼𝗰𝗸.
Solar PV imports fall sharply: from 767→160 MWᴅᴄ (UAE) and 704→80 MWᴅᴄ (Saudi Arabia).
Delays of 6–12 weeks are now feeding through supply chains.

𝗖𝗮𝗽𝗶𝘁𝗮𝗹 𝗮𝗹𝗹𝗼𝗰𝗮𝘁𝗶𝗼𝗻 𝗳𝗼𝗹𝗹𝗼𝘄𝘀.
Freight rates rise. VAT rebates are removed. Silver prices increase.
All three hit already-signed contracts.
Auction bids reach $15/MWh. Risk premiums compress returns.

𝗥𝗲𝘀𝗶𝗹𝗶𝗲𝗻𝘁 𝗽𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼𝘀 𝗮𝗿𝗲 𝘀𝘁𝗶𝗹𝗹 𝗳𝗼𝗿𝗺𝗶𝗻𝗴.
In Saudi Arabia, the UAE, Oman and Türkiye, delays are logistical - not strategic.
The build-out continues.

𝗩𝗮𝗹𝘂𝗲 𝗰𝗿𝗲𝗮𝘁𝗶𝗼𝗻 𝗿𝗲𝗺𝗮𝗶𝗻𝘀 𝗶𝗻𝘁𝗮𝗰𝘁.
A ~130 GWᴀᴄ pipeline is still in motion.
Capital moves ahead of the recalibration.

𝗔𝘁 𝘁𝗵𝗲 𝗥𝘆𝘀𝘁𝗮𝗱 𝗘𝗻𝗲𝗿𝗴𝘆 𝗦𝘂𝗺𝗺𝗶𝘁𝘀, 𝘄𝗲’𝗹𝗹 𝘂𝗻𝗽𝗮𝗰𝗸 𝘁𝗵𝗲𝘀𝗲 𝗳𝗼𝗿𝗰𝗲𝘀 - energy security, capital allocation, resilient portfolios and value creation - and what they mean for your strategies ahead.

📅 𝗦𝗶𝗻𝗴𝗮𝗽𝗼𝗿𝗲 · 𝟯 𝗦𝗲𝗽 · 𝗛𝗼𝘂𝘀𝘁𝗼𝗻 · 𝟭𝟬 𝗦𝗲𝗽 · 𝗟𝗼𝗻𝗱𝗼𝗻 · 𝟲 𝗢𝗰𝘁

Three regions. One Energy Playbook. Choose where you want the conversation: https://rystad.info/4wGELXp

20/05/2026

⚠️ The biggest constraint in the AI race may not be compute, power or chips. It’s critical minerals. New episode of Let’s Talk Energy is out now.

China controls the processing capacity behind the minerals powering semiconductors, defense systems and AI infrastructure - and export restrictions are starting to expose just how dependent the West has become.

In this episode, Noah Brenner is joined by Michael Walshe, CEO of Metallium Ltd, and Jeff Dickerson, Principal Advisory at Rystad Energy, to discuss:

• Why refining - not mining - is the real geopolitical advantage
• How pricing pressure is used to block competing supply chains
• Why Western strategies can’t simply replicate China’s model
• How breakthrough technologies are unlocking critical metals from e-waste
• What emerging yttrium shortages could mean for AI and data center growth

The next global chokepoint may not be oil. It may be critical minerals.
🎧 Listen now → https://rystad.info/4dzwwE6

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15/05/2026

⏳ The IEA has warned Europe could 𝗿𝘂𝗻 𝗼𝘂𝘁 𝗼𝗳 𝗷𝗲𝘁 𝗳𝘂𝗲𝗹 𝗶𝗻 𝘀𝗶𝘅 𝘄𝗲𝗲𝗸𝘀. The window to understand this market is closing fast.

𝗝𝗲𝘁 𝗳𝘂𝗲𝗹 𝗶𝘀 𝘁𝗵𝗲 𝘁𝗶𝗴𝗵𝘁𝗲𝘀𝘁 𝗽𝗿𝗼𝗱𝘂𝗰𝘁 𝗺𝗮𝗿𝗸𝗲𝘁 𝗿𝗶𝗴𝗵𝘁 𝗻𝗼𝘄, up over 105% in Europe and 110% in Asia, outpacing even the surge in crude.

Rystad Energy's Susan Bell, Senior Vice President Upstream, walks through the supply picture, refining economics and what a Hormuz resolution would actually mean for the market.

🎧 Tune in now: https://rystad.info/4nueCHf

13/05/2026

🛢️ Jet fuel price growth has outpaced crude and the gap is widening. New episode of Let’s Talk Energy is out now.

While Brent is up ~80% since the start of the year, 𝗷𝗲𝘁 𝗳𝘂𝗲𝗹 𝗵𝗮𝘀 𝘀𝘂𝗿𝗴𝗲𝗱 𝗼𝘃𝗲𝗿 𝟭𝟬𝟱% 𝗶𝗻 𝗘𝘂𝗿𝗼𝗽𝗲 𝗮𝗻𝗱 𝟭𝟭𝟬% 𝗶𝗻 𝗔𝘀𝗶𝗮. The IEA has warned Europe could face jet fuel shortages in as little as six weeks. Airlines are cutting routes, raising fares and one airline has even ceased operations entirely.

This week, host Noah Brenner is joined by Susan Bell, Senior Vice President Upstream at Rystad Energy, to break down the jet fuel market in detail:

• Why 𝗷𝗲𝘁 𝗰𝗿𝗮𝗰𝗸 𝘀𝗽𝗿𝗲𝗮𝗱𝘀 𝗮𝗿𝗲 𝗱𝗶𝘃𝗲𝗿𝗴𝗶𝗻𝗴 𝗳𝗿𝗼𝗺 𝗰𝗿𝘂𝗱𝗲 - and what's driving the structural gap
• Whether 𝗵𝗶𝗴𝗵 𝗽𝗿𝗶𝗰𝗲𝘀 𝗮𝗰𝘁𝘂𝗮𝗹𝗹𝘆 𝘁𝗿𝗮𝗻𝘀𝗹𝗮𝘁𝗲 𝘁𝗼 𝗵𝗶𝗴𝗵 𝗿𝗲𝗳𝗶𝗻𝗶𝗻𝗴 𝗺𝗮𝗿𝗴𝗶𝗻𝘀 - or whether crude costs are eating the upside
• Which 𝗿𝗲𝗴𝗶𝗼𝗻𝘀 𝗳𝗮𝗰𝗲 𝘁𝗵𝗲 𝘀𝗵𝗮𝗿𝗽𝗲𝘀𝘁 𝘀𝘂𝗽𝗽𝗹𝘆 𝗰𝗼𝗻𝘀𝘁𝗿𝗮𝗶𝗻𝘁𝘀 - and why California is a particular pressure point
• What 𝗽𝗼𝗹𝗶𝗰𝘆 𝗹𝗲𝘃𝗲𝗿𝘀 𝗮𝗿𝗲 𝗮𝘃𝗮𝗶𝗹𝗮𝗯𝗹𝗲 to governments and regulators short of grounding flights
• How quickly 𝗷𝗲𝘁 𝗳𝘂𝗲𝗹 𝗺𝗮𝗿𝗸𝗲𝘁𝘀 𝗰𝗼𝘂𝗹𝗱 𝗿𝗲𝗯𝗮𝗹𝗮𝗻𝗰𝗲 if the Strait of Hormuz reopens

🎧 Tune in now: https://rystad.info/4tQh3FT

Let’s Talk Energy and take the pulse of the aviation industry and its struggles to find enough fuel to fly as the Middle East war dries up global supplies.

13/05/2026

The world’s two biggest transport emitters are chasing the same fuels, and there may not be enough to go around.
In the next Rystad Talks Energy webinar, we will explore what rising pressure on alternative fuels means for aviation, maritime, and the feedstock market.

Join Julien Manhes, Head of SAF and CDR Development at , alongside Rystad Energy experts Rystad, Bromander, and Yu, as they examine:

• The biofuels squeeze across aviation and shipping
• SAF mandates, capacity gaps, and the 2030 compliance outlook
• Feedstock tightness, HEFA-SAF supply limits, and the UCO crunch
• What the Hormuz crisis reveals about transport decarbonization and energy security
• How far clean fuels are from commercial viability in shipping

📅 28 May 2026
🕘Two sessions available: 09:00 and 16:00 CEST

Register now: https://rystad.info/4txQg0H

08/05/2026

Geopolitics is rewriting the fundamentals and the decisions facing energy leaders have never been more complex or more urgent.

At this year’s Rystad Energy Summit we will dig into the forces reshaping the global energy landscape, including supply security, shock preparedness and how to position for resilience in an increasingly volatile world.

Three regions. One Energy Playbook. Choose where you want the conversation: https://rystad.info/4txpm9q

📍 Singapore · 3 September 2026
📍 Houston · 10 September 2026
📍 London · 6 October 2026

06/05/2026

🚨 Brent oil prices are well above $𝟭𝟬𝟬 𝗽𝗲𝗿 𝗯𝗮𝗿𝗿𝗲𝗹. The 𝗦𝘁𝗿𝗮𝗶𝘁 𝗼𝗳 𝗛𝗼𝗿𝗺𝘂𝘇 𝗵𝗮𝘀 𝗯𝗲𝗲𝗻 𝗰𝗹𝗼𝘀𝗲𝗱 𝗳𝗼𝗿 𝘁𝘄𝗼 𝗺𝗼𝗻𝘁𝗵𝘀. And Asia - which sources 𝟱𝟱–𝟲𝟬% 𝗼𝗳 𝗶𝘁𝘀 𝘀𝗲𝗮𝗯𝗼𝗿𝗻𝗲 𝗰𝗿𝘂𝗱𝗲 through that chokepoint - is scrambling.

𝗡𝗲𝘄 𝗲𝗽𝗶𝘀𝗼𝗱𝗲 𝗼𝗳 𝗟𝗲𝘁'𝘀 𝗧𝗮𝗹𝗸 𝗘𝗻𝗲𝗿𝗴𝘆 𝗶𝘀 𝗼𝘂𝘁 𝗻𝗼𝘄.

This week, we dig deep into how Asia's largest oil importers are navigating the 𝘄𝗼𝗿𝘀𝘁 𝘀𝘂𝗽𝗽𝗹𝘆 𝗰𝗿𝗶𝘀𝗶𝘀 𝗶𝗻 𝗮 𝗴𝗲𝗻𝗲𝗿𝗮𝘁𝗶𝗼𝗻:
• Why 𝗖𝗵𝗶𝗻𝗮 𝗳𝗹𝗶𝗽𝗽𝗲𝗱 from stockpiling crude to selling it back into the market
• How the 𝗨𝗔𝗘'𝘀 𝘀𝘂𝗿𝗽𝗿𝗶𝘀𝗲 𝗢𝗣𝗘𝗖 𝗲𝘅𝗶𝘁 reshapes long-term supply flows to India and China
• Why 𝗥𝘂𝘀𝘀𝗶𝗮𝗻 𝗮𝗻𝗱 𝗜𝗿𝗮𝗻𝗶𝗮𝗻 𝘀𝘂𝗽𝗽𝗹𝘆 (Asia's two main fallback options) are both under serious threat
• What 𝗨𝗦 𝘀𝗮𝗻𝗰𝘁𝗶𝗼𝗻𝘀 𝗼𝗻 𝗛𝗲𝗻𝗴𝗹𝗶 𝗣𝗲𝘁𝗿𝗼𝗰𝗵𝗲𝗺𝗶𝗰𝗮𝗹 signal about Washington's leverage ahead of a Trump–Xi summit
• How demand destruction is already accelerating the 𝗘𝗩 𝗮𝗻𝗱 𝗟𝗡𝗚 𝘁𝗿𝘂𝗰𝗸 𝘁𝗿𝗮𝗻𝘀𝗶𝘁𝗶𝗼𝗻 in China

Joining host Noah Brenner: Priya Walia and Ye Lin, two Vice Presidents in our Commodity Markets analysis team.

🎧 Tune in now: https://rystad.info/3P8xeQr

Let’s Talk Energy and look at how oil-importing countries in Asia are coping with the loss of vital Middle East supply as benchmark prices hit four-year highs above $120.

06/05/2026

⚡ From energy security and offshore growth to AI, LNG, supply chains, and deepwater development, OTC Asia 2026 made one thing clear: Asia’s energy agenda is evolving fast.

In this short video, we spotlight key themes from our interview series with Rystad Energy experts and industry leaders recorded on the sidelines of OTC Asia in Kuala Lumpur.

The conversations explore:
• Energy security and supply diversification
• Offshore growth across Asia
• AI’s growing role in energy
• Supply chain pressure points and deepwater development

▶️ Explore the full OTC Asia interview series: https://rystad.info/4d58vo9

01/05/2026

Malaysia’s upstream ambitions are accelerating.

In case you missed it, in our latest Let’s Talk Energy episode, Datuk Bacho Pilong (Petronas) breaks down how the country is navigating rising demand, attracting investment and responding to shifting geopolitical dynamics.

🎙️ Key topics:
• Upstream strategy
• Bid round outlook
• Energy security drivers

👉 Tune in now: https://rystad.info/3QLD6iY

30/04/2026

The Middle East conflict has exposed supply vulnerabilities that could reshape global energy markets for years to come.

In the April edition of Rystad’s Take, our Founder and CEO, Rystad, shares his perspective on the long-term implications for oil, gas, and power markets.

The Q&A explores:
• What the UAE’s departure could mean for OPEC’s future role
• How the crisis may shift oil investment cycles
• Why strategic oil inventories matter in periods of disruption
• What the impact could be for LNG markets, electrification, and consumers

Read the full April edition of Rystad’s Take: https://rystad.info/4cX0dhZ

In our February edition of Rystad’s Take, Jarand Rystad shares his insights on the latest developments shaping the global energy landscape.