Page 3 - International Energy Agency

Govts spent record $1 trillion last year subsidising fossil fuels

The splash of state cash on energy last year followed climate talks in November 2021 when world leaders pledged to end such subsidies.

LiFE initiative by Modi can help address climate challenges: Fatih Birol

Birol said LIFE initiative of the Prime Minister is a source of inspiration for other countries and can help in meeting climate challenges

India's economy already 10% more energy efficient than G20 average: IEA

LiFE measures can also help lower inequalities in energy consumption and emissions between countries

Here's why Indian renewable energy plan pales in front of Europe and China

An International Energy Agency report suggests that New Delhi's action on renewable deployment on the ground pales in front of Europe and China

COP27 fails to turn off the oil tap as global production hits all-time high

The latest global climate summit has failed to even mention the reduction of fossil fuel usage, a key demand from India, in the final agreement text at Egypt

How govt's tight control is slicing away Coal India's creamy layers

Larger shares of the state-owned miner's production are sold significantly below global benchmark prices, deterring global investors from participating in divestment plans

Global crises can speed up transition towards clean energy: Report

Spiralling energy costs caused by various economic factors and the Ukraine war could be a turning point toward cleaner energy, the International Energy Agency said in a report Thursday. The Paris-based organisation found the global demand for fossil fuels, including coal, oil, and natural gas, is set to peak or plateau in the next few decades. The report looked at scenarios based on current policies and said that coal use will fall back within the next few years, natural gas demand will reach a plateau by the end of the decade and rising sales of electric vehicles mean that the need for oil will level off in the mid-2030s before ebbing slightly by mid-century. Total emissions are currently going up each year, but slowly. "Energy markets and policies have changed as a result of Russia's invasion of Ukraine, not just for the time being, but for decades to come, said the IEA's executive director Fatih Birol. A surge in demand following COVID-19 pandemic restrictions lifting and ...

World is in its 'first truly global energy crisis': IEA chief Fatih Birol

The head of the International Energy Agency said its members have oil reserves available to conduct another round of releases if needed

Oil rises 2% on supply concerns, expectations for gas-to-oil switching

Brent crude futures rose by $1.86 a barrel, or 2%, to $95.03 by 11:58 a.m. EDT (1558 GMT). U.S. West Texas Intermediate crude gained $2.06, or 2.4%, to $89.37.

Centre aims to boost refining capacity as fuel demand continues to rise

The oil ministry has been asked by the government to prepare a report on the country's future fuel demand and refining capacity needs

Oil steady as International Energy Agency hikes 2022 demand growth forecast

Brent crude futures slipped 7 cents, or 0.1%, to $97.33 a barrel by 0829 GMT, while U.S. West Texas Intermediate crude futures eased 9 cents, or 0.1%, to $91.84.

India's bet on gas-based economy runs into Ukraine war challenges

As the Ukraine-Russia conflict pushes up prices and Europe outbids South Asia for scarce supplies, billions of dollars in domestic gas infrastructure investment are at risk

IEA says oil market walking tightrope due to economic, supply risks

The estimate fell far short of producer group OPEC's estimate for the year of 3.4 million bpd growth on Tuesday

Nuclear power can help countries secure energy transitions: IEA reports

A total of 32 countries have nuclear plants and nuclear power is the second largest source of low emissions power after hydropower, the IEA said

Norway has key opportunities to advance clean transition, says IEA

Norway is a significant and reliable international supplier, exporting close to 90 per cent of its energy production

OPEC delegates see global oil demand growth slowing in 2023: Report

High crude prices have eaten into growth projections for 2022 and fed into expectations for slower growth in 2023.

WEF 2022 Davos: Why India's clean energy lies with green hydrogen, not blue

The WEF 2022 Davos report states that no country needs green hydrogen more than India

World needs extra $1.3 trillion energy investment by 2030: JP Morgan

Investment will need to be inclusive of all fuels, including oil and gas, renewables and nuclear, with oil demand alone expected to grow by around 10% by 2030 and gas by 18%

Oil prices fall as market weighs mixed supply signals

The International Energy Agency on Wednesday warned that from May onwards roughly 3 million barrels per day of Russian oil could be shut-in due to sanctions or voluntary embargoes

IEA details plan to release 120 million barrels of oil over six months

Prices hit 14-year highs last month as Western sanctions on Russia disrupted crude and oil product exports from the world's number two crude exporter