Business Standard

China would replace US as world's largest oil importer: International Energy Agency

The report said emerging economies would claim most of the global energy supplies over the coming decades

Related News

Energy-hungry would replace the US as the world's largest oil importer by the 2020s followed by India, according to a report that said emerging economies are poised to claim most of the global energy supplies.

China, world's second largest economy, will be the main contributor to the increase in global energy use over the coming decade, after that India will replace it as the world's biggest driving force for energy demand in the 2020s, (IEA) said here yesterday.

China's crude for 2013 are estimated at 289 million metric tonnes, up 7.3 per cent year-on-year, according to the China National Petroleum Corp Economics and Technology Research Institute in Beijing.

Maria van der Hoeven, executive director of the Paris-based IEA, said the global energy industry is developing to become a more efficient and low-carbon industry.

This is taking place as progress in technology along with high prices are helping to open up new resources, state-run China Daily quoted her as saying.

However, this does not mean the world is on the verge of an era of oil abundance, Van der Hoeven said.

The report said emerging economies would claim most of the global energy supplies over the coming decades.

IEA is an arm of the Organisation for Economic Co-operation and Development, an inter-governmental economic think tank among elite economies.

The IEA and six emerging economies - China, India, Russia, South Africa, Brazil and Indonesia - have signed a joint declaration involving closer cooperation with regard to global energy challenges.

"As the global energy map is redrawn, the IEA's 28 member countries face many of the same energy challenges as key emerging economies, and we all share a common interest in building a secure, sustainable energy future," Van der Hoeven said.

Read more on:   
|
|

Read More

Lanka to begin counting casualties of war today

Sri Lanka, under global pressure over its human rights record, today launched a six-month census to count the number of casualties during the final ...

Columnists Rss icon

T N Ninan

T N Ninan: How to eat a free lunch
T N Ninan

India is the third largest importer of crude oil, the third largest importer of coal and the fifth or sixth largest importer of natural gas. ...

Abheek Barua

Abheek Barua: A list of risks
Abheek Barua

Many things could play spoilsport for the Indian economy

Editorial Comment Rss icon

Banking on thin ice

Explicit condemnation of large defaulters welcome

The right smoke signals

Upping stakes on tobacco use is healthy policy

TWEETS @ POLITICS
@SinghRPN
Sad news of demise of Murli Deoraji.Learnt a lot working with him as Minister of State.My sincere condolences to @milinddeora and the family
@milinddeora
"Life without you... All the love, you've passed our way Angels have waited, for so long Now they have their way Take your place..."
@digvijaya_28
In 1985 Rajiv Ji had set up National Commission on Urbanisation which had done an excellent job. GOI must draw up National Urban Policy
@thekiranbedi
( In case u missed it. Worth it ) Video | Modi addresses rally in poll-bound Udhampur | India Videos | - India Today http://t.co/MRaPjisNzv
@ajaymaken
BJP Govt. has performed at an average,one #UTurn every week; From tomorrow onwards we are starting a series: '६ महीनें पार' #UTurn सरकार'
@MPNaveenJindal
RT @shallujindal20: Inviting children n parents at 3pm on sun-30 nov2014 at Bookaroo 4 a session on my book'India:an alphabet ride'.C u all…
@Panda_Jay
My Twitter handle changed yesterday to @PandaJay 😊, please follow that..
@ShashiTharoor
RT @Akshat_Sriv: http://t.co/HAjhPIOKFw #RiotThePlay up on @YouTube now! @ShashiTharoor
@Swamy39
On CNBC Hindi now
@narendramodi
People of J&K see a new ray of hope. They are determined to end this 'turn by turn' looting & will vote for progress. http://t.co/hD0M1mVTEc
@abdullah_omar
How True“@IndiaToday: Sameer Kaul, PDP: #Article370 is non-negotiable & we will do anything that is against the sentiments of people. #NTA9”
@varungandhi80
My article in The Economic Times today: Go Beyond Power Politics. http://t.co/igNWjNbVjk
@ArvindKejriwal
RT @sakshamkeshri: @ankitlal @maheshmurthy @aapkipreeti @Iam_Prerna @ndtv BBC Hindi - बनारस में 6.4 लाख 'डुप्लीकेट' वोटर http://t.co/srbm
@PMOIndia
Outgoing SPG Chief Shri K Durga Prasad met the Prime Minister. http://t.co/k9Zdu49htr
@rajeev_mp
Remember & Never Forget supreme sacrifice of Major #SandeepUnnikrishnan martyred this day #MumbaiAttack #TerrorAttack http://t.co/bfHNiZgdZm
@quizderek
Solid, purposive week in Parliament. Early to bed on a Friday night. Some of you folks want to get into public life ?
@
SC asks DLF to deposit Rs 480 crore penalty http://t.co/0J5EtC0QrS
@SushmaSwaraj
Indian hostages in Iraq - my statement in Rajya Sabha on 28th Nov 2014 https://t.co/bmtalSOeQc
@arunjaitley
Video of my reponse on the discussion on The Delhi Special Police Estb. (Amnd.) Bill,2014 in Rajya Sabha on 27/11/14 http://t.co/30owUJTLfA
@MVENKAIAHNAIDU
@praveenk7 instructed DMRC to take action immediately.
@nitin_gadkari
Today's Rallies in Jharkhand http://t.co/jU12xSl3KG
@DVSBJP
Demise of Sri Murali deora is Saddening. My deepest condolences are with his family.. The Good leader had friends across party lines
@umasribharti
चन्‍द्रशेखर राव को बधाई. तेलंगाना राज्‍य का मेरा संकल्‍प एवं सपना पूरा, तेलंगाना की नदियों का ध्‍यान रखेंगें.
@AnanthKumar_BJP
Met with Mrs Umashree, Karnataka Minister for Culture & Kannada to discuss issues @ Classical Status for Kannada http://t.co/wKrplAgF9o
@smritiirani
RT @HRDMinistry: Yashranjan Sinha inks bal swachhta mission's anthem, of the children, by the children, for the children http://t.co/hFrs0l
@drharshvardhan
Congrats my brothers&sisters of Jammu&Kashmir for braving cold&threats to vote in record 71.28% today-long live India,long live democracy.
@Gen_VKSingh
Remembering the bravehearts who sacrificed their lives in the service of the nation &pay homage 2the civilians who lost their lives on 26/11
@Rao_InderjitS
Sainik Schools across the country, have a history of producing several top notch defense personnel. http://t.co/Py4cJtc2l2
@nsitharaman
Thank you for your interest @sulorammohan. You may contact me on cimoffice@nic.in or on 91-11-23061008 @India272 @CimGOI
@RSSorg
“They alone live, who live for others.” Seva Samgamam organised by Sevabharati @Guntur concludes http://t.co/MU93OpXhit

Back to Top