The CEO of BP has described an IEA net zero scenario calling for the end of new oil and gas projects as “credible”, despite the firm planning major fossil fuel developments.
International Energy Agency (IEA)
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.
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.
Oil slid after U.S. crude inventories surged for a fourth week, further fueling the downbeat sentiment generated by the International Energy Agency describing global stockpiles as plentiful.
Oil markets aren’t on the verge of a new price supercycle as plentiful supplies mean any concerns of a shortfall are misguided, the International Energy Agency said.
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.
The International Energy Agency (IEA) has announced plans to produce the “world’s first comprehensive roadmap” setting out how to reach net zero emissions by 2050.
Holyrood’s energy minister has described Scotland as “potentially the best placed country in Europe” to deliver carbon capture utilisation and storage (CCUS) on a commercial scale.
Once a year, the International Energy Agency attempts to impose some order on the chaotic world of oil, gas, power and carbon by publishing detailed scenarios on how the next few decades might unfold.
The International Energy Agency (IEA) has warned that oil demand could be pushed back to pre-crisis levels without significant policy changes.
Oil declined as investors assessed the International Energy Agency’s reduced forecasts for global oil demand in part due to a slowdown in air travel.
Libya’s National Oil Corp. (NOC) has lifted force majeure on oil exports from the North African state, but has warned production will be low.
The worst of the reduction in oil demand came in the second quarter, the International Energy Agency (IEA) has said, and will be down by 5.1 million barrels per day in the second half of the year.
The African Energy Chamber has launched a jobs portal in order to help the continent’s energy market bounce back.
Plummeting carbon emissions and big government spending—two of the defining narratives of 2020 so far—could create an unprecedented opportunity for the world to meet the goals enshrined in the 2015 Paris climate change agreement, according to the International Energy Agency.
Global oil demand will rebound next year as the world emerges from the coronavirus pandemic, but recovering to pre-crisis levels may take a couple of years, the International Energy Agency said.
At a point when the world’s economic system is creaking and the oil market is suffering from its own supplementary crisis, it can be hard to imagine what may come next.
Last year saw the biggest falls in global electricity generation from coal and power sector carbon emissions since at least 1990, analysis suggests.
Rapid and widespread changes are needed across the world's energy systems to tackle climate change and ensure sustainable development, experts have said.