Page 5 - International Energy Agency

Oil slips but set for weekly gain despite forecast for weaker demand

Oil fell on Friday, but was on track to post a slight weekly gain, broadly shrugging off a warning from the International Energy Agency that the spread of coronavirus variants is slowing oil demand

Crude oil prices steady as IEA warns of slowdown in demand recovery

Brent crude futures was down 26 cents, or 0.36%, at $71.18 a barrel by 11212 GMT, after earlier rising to a session-high of $71.90.

Spread of Covid-19 Delta variant knocks oil demand outlook: IEA

Rising demand for oil abruptly reversed course in July and is set to proceed more slowly for the rest of the year due to the spread of the COVID-19 Delta variant, the International Energy Agency said

Int'l Energy Agency says refining throughput set to rise in July, August

The Paris-based agency, however, expected the trend will lose momentum in winter due to seasonal maintenance of refineries.

Investors say banks must toughen climate policies or face AGM rebellion

Investors managing $4.2 trillion on Wednesday called on some of the world's biggest banks to toughen their climate and biodiversity policies or risk rebellions at their next annual meetings

Iran says nuclear site images won't be given to IAEA as deal has expired

The announcement could further complicate talks between Iran and six major powers on reviving a 2015 nuclear deal

Clean energy investment in developing economies top global priority: IEA

Recent trends in clean energy spending point to a widening gap between advanced economies and the developing world even though emissions reductions are far more cost-effective in the latter.

India unlikely to accept IEA's call to stop new fossil fuel investments

"We do not think the report by IEA has been vetted by the member countries as a position document", said a senior source in the government

Asia snubs IEA's call to stop new fossil fuel investments for the world

Energy companies in Australia, the biggest carbon emitter per capita among the world's richest nations, and officials in Japan and the Philippines said there were many ways to get to net-zero

IEA chief backs India on coal, says no exit without financial aid

Lending his weight to India's stand on coal as an energy source, International Energy Agency (IEA) chief Fatih Birol on Wednesday said it won't be fair to ask developing nations to stop using coal without giving international financial assistance to make up for the economic challenge from such a move. Developing nations like India depend on coal for 60 per cent of their energy, and coal and associated sectors are major employment generators, he said at the Energy Horizons Leadership Dialogue organised by Council on Energy, Environment and Water (CEEW). Endorsing the Indian stand of it not being responsible for global pollution, Birol said, "climate change issue we have today, (that is) concentration of carbon in the atmosphere is not an issue of today. It is an issue of almost last 100 years." "And many countries, so-called advanced economies, came to this industrialised levels and income levels by using a lot of coal. These are the US, Europe, Japan," he said. India has maintained

Brent oil rises on weaker dollar though IEA cuts demand outlook

Consumption in the first quarter of 2021 will be 600,000 barrels a day lower than previously thought, the agency said as the coronavirus outbreak continues to impede people's movements

Vaccine impact on moribund oil demand is several months away - IEA

The roll-out of vaccines this month will not quickly reverse the destruction wrought on global oil demand, International Energy Agency warned

Global oil demand unlikely to get vaccine boost until later in 2021: IEA

Brent crude fell 0.8% to $43.46 a barrel in early London trade, snapping three straight days of gains

Solar the 'new king' of power, will break records for decades to come: IEA

The combined share of solar photovoltaic (PV) and wind in global generation will rise to almost 30% in 2030 from 8% in 2019, it said, with solar PV capacity growing by an average 12% a year

Is the spot market mechanism the panacaea for the slack in energy sector?

While benefits in supply and pricing are likely to accrue to the consumer with the activation of energy exchanges, certain grey areas need to be addressed

India to drive global gas demand post-slowdown, output to rise too: IEA

Consumption to increase by 28 bcm between 2019-25

Global natural gas demand set for biggest fall on record, says report

Consumption is set to slump by 4% this year, or twice the amount lost after the 2008 financial crisis, according to the International Energy Agency's Gas 2020 report.

Global energy investment may see a record fall in 2020 over Covid-19: IEA

Governments are easing restrictions put in place to curb the spread of the virus after the confinement of around 3 billion people brought the global economy to a near standstill

Oil prices rise on dip in US crude stockpiles and IEA data forecast

Crude prices have ticked up in the last two weeks as some countries relaxed coronavirus restrictions to allow factories and shops to reopen

Global energy demand will fall 6% in 2020: International Energy Agency

The decline is equivalent to losing the entire energy demand of India, the world's third-largest energy consumer