OPEC issued a strongly worded defense of the oil-and-gas industry days before the start of the biggest ever climate talks, pushing back against the International Energy Agency (IEA) and highlighting the increasingly fractious debate over how best to tackle global warming.
International Energy Agency (IEA)
The UK Government plans to award North Sea oil and gas licences every year in new legislation being announced this week.
Based on the IEA’s STEPS baseline scenario, Guyana will increase production to around 2mn bpd by the mid 2030s. Under the more conservative APS scenario, the IEA sees Guyana reaching 1.3mn bpd by 2035.
Investment in the world’s electricity grids must double to more than $600 billion a year if nations are going to meet their climate targets and maintain energy security.
From toys to medical supplies, oil is everywhere in domestic UK life and it plays a key role in the country's transport.
Meanwhile 2030 "is the earliest time" electrification could be achieved - years after first oil.
Oil supply cuts by Saudi Arabia and Russia will create a “significant supply shortfall” and threaten a renewed surge in price volatility, the International Energy Agency warned.
In October 2018, the International Energy Agency published a report on the future of the petrochemicals industry, arguing that it was a Cinderella in the global energy futures conversation.
Investors will pour more money into solar power than in oil production this year for the first time, signaling the scale and speed of the transition to low-carbon sources of energy.
Global oil markets face a bigger surplus this quarter than previously expected, with demand still constrained despite China’s bid to reopen its economy from Covid lockdowns.
The International Energy Agency (IEA) said that global renewable capacity is expected to grow much quicker than previously forecast following the energy crisis.
Ithaca Energy (LON: ITH) has celebrated first oil from Abigail, a tiny North Sea oil and gas field which made national headlines this year.
As COP27 continues apace, the slew of demands for more – or less – hydrocarbon investments is mounting.
As humankind drives relentlessly towards climate catastrophe, just a few days ago the International Energy Agency offered a crumb of comfort regarding CO2 emissions.
On Sunday, the global climate summit COP27 will convene in Egypt. Bloomberg Green will cover the conference in depth and we’ve been preparing for it, looking at Egypt’s future under a possible 3C of warming and discussing why every election is now a climate election.
European natural gas demand will slump next year as high prices drive nations to enact energy-saving measures amid Russian supply curtailments, according to the International Energy Agency.
OPEC producers will need to pump crude at the fastest pace in five years in 2023 if they are to balance oil supply and demand. Capacity constraints suggest they may struggle.
Green grids and international renewable energy are the only way to save Africa – and the world – with the alternative being a “climate abyss”.
The International Energy Agency cut its forecast for global oil demand this year after China reimposed lockdowns to contain the spread of a resurgent coronavirus.
Oil rebounded after a steep slump that was triggered by prospects for further crude releases from strategic reserves, the outlook for tighter U.S. monetary policy and weaker demand in virus-hit China.
The definitions of Environmental, social and corporate governance (ESG) have been challenged by Russia’s invasion of Ukraine, nowhere more so than in the energy sector, where companies have been forced by events to exit Russia abruptly and energy prices have soared to record levels.
The UK will join the US in releasing more oil from its reserves as part of a joint effort to lower prices and reduce reliance on Russian supplies, two people familiar with the matter said.
OPEC members have opted to drop their use of data from the International Energy Agency (IEA) in their monthly reporting.
Sky-high oil prices and extreme volatility have exposed the fragility of the world’s dependence on fossil fuels.
New analysis from the International Energy Agency (IEA) suggests adopting a suite of measures could enable the European Union to reduce its imports of Russian gas by more than one-third within a year.