In early November, Eni, Italy’s major integrated energy company, published its flagship World Energy Review 2026 (WER). Marking its 25th anniversary edition, the Review has evolved significantly since its inception as an oil and gas market analysis tool. Today, its expanded scope encompasses renewable energy sources, critical minerals, fossil fuels, and CO2 emissions, providing a comprehensive perspective on current global developments.
The current report outlines several key conclusions regarding current trends in the global energy transition:
The Additive Model Instead of Complete Replacement
The authors of the report argue that the evolution of global energy does not follow a path of immediate replacement of one fuel type by another, but rather adheres to a principle of coexistence—the additive model. New variable renewable energy sources are added to the overall mix, while traditional fossil resources remain an essential element to ensure the security, continuity, and affordability of energy supply.
Growing Demand and the AI Factor
Global energy demand grew by 1.3% in 2025, reaching 15.7 Gtoe. A new and rapidly growing driver of electricity demand is the booming development of artificial intelligence (AI) technologies and data centres.
Continued High Share of Fossil Fuels
Despite active additions of green capacity, fossil fuels (oil, natural gas, and coal) continue to account for approximately 80% of global primary energy consumption (compared to 83% in 2015).
The Gap Between Installed Capacity and Actual VRE Generation
In the power sector, the share of fossil fuels in total installed power capacity declined from 63% in 2015 to 46% in 2025, while the combined share of solar and wind power reached 36%.
However, due to the intermittent nature of renewable generation, capacity growth does not translate into an equivalent increase in electricity production.
Fossil fuels still account for nearly 60% of global electricity generation.
Solar and wind power plants combined provide 15% of generation (solar — 8%, wind — 9%).
The Growing Role of Critical Minerals
The development of low-carbon technologies and energy storage intensifies strategic dependence on supplies of critical raw materials: cobalt, lithium, nickel, manganese, graphite, rare earths, and silicon. Overall production expanded in 2025, particularly for lithium (+29%) and graphite (+13%).
Rising CO2 Emissions
Global energy-related CO2 emissions (including process emissions) increased by 0.4% in 2025, reaching a new historical high of 38.2 Gton. Coal remains the largest source of emissions globally.
Pragmatism and Technological Neutrality
The report’s authors emphasize that security, competitiveness, and environmental sustainability are interconnected objectives that should be pursued with an integrated approach, guided by pragmatism and technological neutrality.
Analyzing global energy market dynamics for 2025, the Review underscores the need to balance energy security with sustainable development amid ongoing geopolitical tensions. ///nCa, 9 November 2026