There are signs a stronger China rebound will boost oil: IEA
China’s economy could be poised for a stronger-than-anticipated rebound that’ll deliver a demand boost for oil and natural gas, according to the head of the International Energy Agency.
IEA
Chinese oil demand faces bumpy road to recovery as Covid curbs ease
Oil demand in China is expected to pick up as the world’s largest crude importer pivots away from its strict Covid Zero policy, although analysts caution that it may take time for gains to kick in.
OPEC says world can’t live without oil, demand will keep rising
OPEC held firm to projections that global oil demand will keep growing for another decade, and said it would be dangerous to abandon fossil fuels.
More Australian LNG needed for Asia’s energy transition
Citing a recent report from the International Energy Agency (IEA), the Australian Petroleum Production & Exploration Association (APPEA), notes that Australian exports of liquefied natural gas (LNG) to Asia would need to triple to support the region’s energy transition.
IEA sees biggest China oil demand drop in over three decades
China faces its biggest annual drop in oil demand in more than three decades as Covid-19 lockdowns and a property crisis weigh on growth in the world’s No. 2 consumer, the International Energy Agency said.
IEA says Indonesia needs to invest $8bn per year on energy transition
To hit its 2060 net zero pledge, Indonesia will need to almost triple energy investment by 2030, the International Energy Agency (IEA) said in its latest report. That means an extra $8 billion in investment a year by the end of this decade compared with a business-as-usual pathway.
The global energy crisis may get worse, IEA’s Birol warns
A global squeeze on energy supply that’s triggered crippling shortages and sent power and fuel prices surging may get worse, according to the head of the International Energy Agency.
Global renewable power installations climb to new record high in 2021 – IEA
A record amount of solar panels, wind turbines and other renewable power is set to be installed worldwide in 2021, the International Energy Agency has said.
Oil price could hit $200 without new investments says Omani minister
Oil prices could hit $200 per barrel if no new investments are made in the upstream oil and gas sector in the short-term, Oman's energy and minerals minister said yesterday in reply to the International Energy Agency's (IEAs) assessment for reaching net-zero emissions by 2050, reported S&P Global Platts.
OTC: World’s largest oil conference navigates Covid for 2021 return
Navigating Covid restrictions, dodging other energy calendar fixtures and even working around the Houston Texans football team has allowed OTC in Houston to finally get underway this month.
Quebec kills LNG plan citing IEA net zero plans
Quebec has officially rejected a proposed LNG export project, citing the International Energy Agency’s (IEA) net zero report from May.
Fossil fuels giant Reliance will invest $10bn in Indian renewable energy
India’s richest man, Mukesh Ambani, who has run one of the world’s largest petroleum businesses for over two decades, yesterday announced that his company Reliance Industries, will invest 750 billion rupees ($10 billion) towards clean energy solutions over the next three years.
Energy and chemicals transformations pose massive resource challenges
As the curtain falls on the Age of Hydrocarbon Man and the transition towards a more sustainable low carbon future gathers momentum, it is important to recognise the sheer scale of the effort required.
CCS is crucial for BP and Repsol investments in Indonesia
Proposed new regulations signal that the Indonesian government appears to have recognised the importance of supporting carbon capture and storage (CCS) schemes. Such regulations will be crucial to encourage major companies, such as BP and Repsol, to invest in significant new upstream production in Indonesia.
Will oil hit $80 this summer?
India, the world's third-largest oil importer, is the latest coronavirus hotspot. It has recently hit a record-breaking number of new daily coronavirus cases—a statistic that dented oil demand and pressured oil prices.
IEA says governments should consider stockpiling battery metals
Western governments should consider stockpiling critical battery metals such as cobalt and lithium, the International Energy Agency said, in a stark warning of the geopolitical risks that accompany the green-energy transition.
Santos eyes final approval for giant CCS project
Australia’s Santos plans to take a final investment decision (FID) on its proposed Moomba carbon capture and storage (CCS) project that it said would be among the largest in the world.
Is a new global oil supercycle looming?
Energy Voice considers the prospect of an oil supercycle and its potential supply crunch, rising demand, and triple digit oil prices.
Student minds are driving big change
Student body presidents from eight top US universities came together recently to endorse a statement on fossil fuel divestment drawn up by Harvard University’s Undergraduate Council.
IEA sees $1.4 trillion clean energy opportunity in India
India is set for the largest increase in energy demand of any country over the next 20 years. This underscores the potential for policies and investment to accelerate the clean energy transition, the International Energy Agency (IEA) said in a new report.
India courts ExxonMobil with upstream offer
The Indian government is trying to persuade ExxonMobil to take stakes in offshore acreage controlled by state-backed Oil & Natural Gas Corporation (ONGC).
Big Money drives transition in face of old resistance
It is the hottest topic of all time for the energy industry. The energy transition that began more than 25 years ago is now central in the battle to curb and reverse runaway climate change within 30 years.
Pandemic takes toll on funding for low-carbon innovation
“Recovery plans rooted in the energy transition represent a far-sighted investment.” So claims Irena, the International Renewable Energy Agency.
Sustainable Recovery: A roadmap that makes sense
Sustainable Recovery may be the most significant report ever produced by the IEA and the reason why is that the agency was partnered by the International Monetary Fund.
Record spending cuts this year, IEA warns
The coronavirus pandemic has triggered the “largest drop in global energy investment in history”, the International Energy Agency (IEA) has said, launching its World Energy Investment 2020 report.