Reuters A stark appeal by the world’s top energy body to stop investment in new fossil fuel projects by next year has met a mixed reception from the world’s top producers – from guarded praise and pledges to cut back on coal to outright defiance. The International Energy Agency said in its “Net Zero by 2050” report last week that
Reuters LONDON – Investors should not fund new oil, gas and coal supply projects if the world wants to reach net zero emissions by mid-century, the International Energy Agency (IEA) said on Tuesday, calling instead for a large expansion of renewable energy technologies. A global climate pact agreed in 2015 to cap the rise in temperatures to as close as
Reuters LONDON -Oil demand is already outstripping supply and the shortfall is expected to widen even if Iran boosts exports as vaccinations against COVID-19 bolster the global economy, the International Energy Agency (IEA) said on Wednesday. “The anticipated supply growth through the rest of this year comes nowhere close to matching our forecast for significantly stronger demand beyond the second
CNBC The supply of critical minerals crucial for technologies such as wind turbines and electric vehicles will have to be ramped up over the next decades if the planet’s climate targets are to be met, according to the International Energy Agency. A new report from the Paris-based organization, published Wednesday and entitled “The Role of Critical Minerals in Clean Energy
Reuters LONDON- Gasoline demand may never recover to pre-pandemic levels, the International Energy Agency (IEA) said on Wednesday, with increased use in developing countries offset by rising fuel efficiency and a switch to electric vehicles in wealthy nations. In last year’s five-year outlook before the COVID-19 pandemic’s full force was felt in Western countries, the IEA said that gasoline demand
Reuters LONDON – Global oil supply still outstrips demand due to persistent COVID-19 lockdowns and the spread of variants, the International Energy Agency (IEA) said on Thursday, but vaccines should help demand recover and soon enable producers to pump more. “With demand forecast to rise strongly and still modest growth in non-OPEC supply expected, a rapid stock draw is anticipated
Reuters NEW DELHI – India will make up the biggest share of energy demand growth at 25% over the next two decades, as it overtakes the European Union as the world’s third-biggest energy consumer by 2030, the International Energy Agency (IEA) said. India’s energy consumption is expected to nearly double as the nation’s gross domestic product (GDP) expands to an
Reuters LONDON – Global emissions of the potent greenhouse gas methane from oil and gas production dropped 10% in 2020 mainly because of lower output as opposed to concerted climate action, a report by the International Energy Agency (IEA) found. Methane has more than 80 times the warming potential of carbon dioxide in its first 20 years in the atmosphere
Reuters LONDON – The roll-out of vaccines this month to combat the coronavirus pandemic will not quickly reverse the destruction wrought on global oil demand, International Energy Agency (IEA) warned on Tuesday. “The understandable euphoria around the start of vaccination programmes partly explains higher prices but it will be several months before we reach a critical mass of vaccinated, economically
Reuters OSLO – China’s greenhouse gas emissions will increase in 2020 compared to 2019 as they have rebounded after the COVID-19 outbreak, the head of the International Energy Agency said on Wednesday. “As of today, Chinese emissions this year, 2020, will be higher than in 2019, they rebounded,” Fatih Birol told a digital energy conference organised by Norwegian oil firm
Reuters LONDON – Oil prices rose on Thursday, taking this week’s gains to more than 12% on growing hopes that the world’s major producers will hold off from a planned supply increase, though the advance was kept in check by doubts that demand will recover quickly. Brent crude LCOc1 rose 50 cents, or 1.1%, to $44.30 a barrel by 1456 GMT while
Reuters LONDON, Nov 10 – Record levels of new renewable energy capacity are set to come on stream this year and next, while fossil fuel capacity will fall due to an economic slump and the COVID-19 crisis, the International Energy Agency (IEA) said in a report. In its annual renewables outlook, the IEA said new additions of renewables capacity worldwide
