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:   
|
|

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

Energy-hungry China 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.
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.
image

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 ...

Recommended for you

Columnists Rss icon

Ajit K Ghose

Ajit K Ghose: The dual economic logic for 'Make in India'
Ajit K Ghose

Manufacturing-led growth is essential. Any attempt to revive services-led growth would cause severe balance of payments difficulties to

Kishan S Rana

Kishan S Rana: India and China - A grand design
Kishan S Rana

Last week in Shanghai, Indian and Chinese firms signed joint work plans. That is the way to go - compete, but also cohabit if feasible

Editorial Comment Rss icon

Reputation risks

Real interest rate of 2.5 per cent hurts revival

Instant change

A new Facebook initiative will transform news media

TWEETS @ POLITICS
@SinghRPN
In Guwahati today as part of Congress national campaign to put the facts before the people.Great to meet with state Congress workers too
@milinddeora
@sango20 😅
@digvijaya_28
RT @JitinPrasadaFan: Shri @JitinPrasada and Shri @milinddeora at the wedding of Shri @digvijaya_28 son Jai Vardhan. http://t.co/mLT0aYt099
@thekiranbedi
'Brand Modi' means Speed,Sincerity and Seriousness in India's Development. (This is what is coming thru TV Dialogues celebrating 1 year)
@ajaymaken
This Toon sums up all about Kejriwal! http://t.co/7UjwRFCOfw
@MPNaveenJindal
RT @shallujindal20: With Lord Jagganath jis blessings,received Kalashree Samman for Kuchipudi from Gandharva Kala Parishad,Bhubaneshwar🙏 ht…
@Panda_Jay
My Twitter handle changed yesterday to @PandaJay 😊, please follow that..
@ShashiTharoor
Pleasure to meet the young man! https://t.co/1YQcp4uyiE
@Swamy39
@hariaiyer:She became CM in 1991 because I dismissed the DMk govt and brought her from hiding in Hyd. In1998 rehabilitated her on corruption
@narendramodi
An intellectual powerhouse with a long lasting contribution to mathematics, John Nash will be remembered forever. RIP Alicia & John Nash.
@abdullah_omar
So now Pakistan will blame India for every terrorist strike on its soil & hold up Def Min Parikar's statement as the confession. Well played
@varungandhi80
http://t.co/5JsBEYkq7D Be a friend, critic, role model to a child from Teach for India. Apply to be a mentor with @greenbatti project today.
@ArvindKejriwal
RT @JantaKaReporter: From the streets of #Delhi,we get you reactions of the people regarding the ongoing tussle between #AAP & #LG CLICK: h…
@PMOIndia
RT @narendramodi: An intellectual powerhouse with a long lasting contribution to mathematics, John Nash will be remembered forever. RIP Ali…
@rajeev_mp
.@TupVenky pls send me an email to rajeev.c@nic.in with note so that i can undrstand the issue. Thnk u
@quizderek
A km from Eden Gardens #IPLFinal an old north Kolkata tradition. Street hockey final at BowBarracks.Honor to be there http://t.co/bgnjpxsPBl
@
Kejriwal's handling of Delhi-Centre standoff immature: Yogendra Yadav http://t.co/PukJjeLNQ2
@SushmaSwaraj
@AnilagarwalSa47 We propose to open a Passport office in Siliguri.
@arunjaitley
Watch my interview with India Today Television, May 23, 2015. http://t.co/Q0VdYGbsFk
@MVENKAIAHNAIDU
One of the earliest proponents of Indian patriotism, Maharana Pratap Singh inspires us even today. My tribute 2 him on his birth anniversary
@nitin_gadkari
Speaking on NDTV's special series, The Townhall https://t.co/haYztxkpGd
@DVSBJP
Please watch me on @tv9kannada #chakravyuha program today at 9-30 pm discussing about one year of #ModiSarkar http://t.co/eTkNBmjBtJ
@umasribharti
चन्‍द्रशेखर राव को बधाई. तेलंगाना राज्‍य का मेरा संकल्‍प एवं सपना पूरा, तेलंगाना की नदियों का ध्‍यान रखेंगें.
@AnanthKumar_BJP
SiddharamaiahJi - Implement strictly the ban on Lottery. Book and punish super duper bookies...
@smritiirani
Today a special thank you to all those who supported me in Amethi Lok Sabha 2014. No amount of thank you's will ever be enough.
@drharshvardhan
AccheDin for Aam Aadmi.Mobile roaming & STD rates cut drastically under Modi seva.Atalji had effected drastic cuts in tariffs for aam Aadmi
@Gen_VKSingh
4/4. जनपद की विद्युत समस्याओं का जल्दी निवारण होगा. आप सब इस मुहिम में जुड़िये
@Rao_InderjitS
RT @mlkhattar: Adequate funds being provided for system & infrastructure - 500 new motorcycles have been provided to Police Dept. for effec…
@nsitharaman
Thanks @BDUTT Travlng frm Malda-Kolkata thru the night.The Townhall format added flavour to the debate. As always @PilotSachin was graceful.
@RSSorg
Sri Bindu Madhav Joshi a veteran swayamsevak& a pioneer f Indian consumer movement is no more. May his soul one with the almighty DR Vaidya

Back to Top