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The Latest Breaking News from International Energy Agency

Eco-friendly tech comes with its own environmental costs: that's why it's vital to cut energy demand now

If we want to keep global temperature rise below 1.5 or even 2℃, we’ll need a monumental shift in how our energy and transport systems work. The International Energy Agency has declared that millions of solar panels, wind turbines and electric vehicles (EVs) will need to be made and deployed…

The Conversation

Russia rakes in nearly $20bn from oil exports in May

Rise in revenues is setback for west’s efforts to hit Russian economy in wake of Ukraine invasion

The Guardian - UK

IEA: Global Oil Demand Set to Rise 2% to New High in 2023

World oil demand will rise more than 2% to a record high of 101.6 million barrels per day (bpd) in 2023, the International Energy Agency said on Wednesday, although sky-high oil prices and weakening economic forecasts dimmed the future outlook. The Paris-based IEA also said in its monthly report supply…

Asharq Al-Awsat

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Can MENA countries fight climate change the same way?

With Egypt’s COP27 six months away, experts are calling attention to the MENA region’s transition to clean energy.

Al Jazeera

EXPLAINER: Effects of EU Russia oil ban, Moscow's response

The European Union has agreed to slash Russian oil imports in a tough escalation of the bloc’s campaign of sanctions to punish Russia for its invasion of Ukraine

The Independent UK

Ukraine war: COP26, IEA heads warn of digging in on fossil fuels

Alok Sharma and Fatih Birol say they are hopeful the global hydrocarbon crisis could spur a transition to green energy.

Al Jazeera

Australia Institute disputes Victorian coal-to-hydrogen emissions claims

A think tank says a project to make hydrogen from coal is unlikely to meet its carbon reduction claims. But the criticism has been dismissed by project bosses who say the researchers have their numbers wrong.

ABC News

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Climate chaos certain if oil and gas mega-projects go ahead, warns IEA chief

Fatih Birol says ‘carbon bombs’, revealed in Guardian investigation, will not solve global energy crisis

The Guardian - UK

IEA: Renewable Energy to Grow to New Record in 2022

The world will set a new record for renewable power capacity this year led by solar energy in China and Europe, but growth could lose steam in 2023, the International Energy Agency said Wednesday. A record 295 gigawatts of new renewable power capacity was added in 2021 despite supply chain…

Asharq Al-Awsat

Time to offset carbon footprint

In early 2020, the world faced an unprecedented situation as Covid-19 struck globally, placing most countries under lockdown and resulting in significant alteration of many government policies on energy demand, especially on the transport sector.

Bangkok Post

President Biden Did Not Consult Global Energy Partners Before Its Massive Reserve Release: Reuters

The International Energy Agency members have become worried that U.S.

Benzinga

Commentary: How heat pumps can help save Ukrainians from Putin and the rest of us from climate change

Heat pumps aren’t usually considered war-fighting materiel, but these heating-and-cooling appliances could be almost as crucial to the defense of Ukraine as anti-tank and anti-aircraft missiles.

Los Angeles Times

Russian war, China lockdowns roil oil markets as OPEC+ meets

Oil markets have been fluctuating over fears of lost supplies from Russia because of the war in Ukraine

The Independent UK

Will Big Oil face another reckoning?

The new season of shareholder climate demands has begun

Salon

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Asharq Al-Awsat

Iraq Was Pressured to Increase Oil Output Away from OPEC, Says Oil Minister

Iraq was pressured to increase its oil production outside the remit of OPEC's policy on output, Oil Minister Ihsan Abdul Jabbar said on Saturday. He also told Al Hadath TV that OPEC was committed to providing the oil supplies needed to compensate for any shortages. OPEC has resisted calls by…

Benzinga

Here's Why Camber Energy Shares Are Rising

Shares of oil, energy and oil services companies, including Camber Energy Inc (NASDAQ: CEI), are trading higher as oil prices gain. While the International Energy Agency reported a larger-than-expected build in US crude inventories, supply constraints continue to drive prices higher.

Benzinga

IEA Marginally Cuts Global Oil Demand Forecast On Mired Outlook Due To China COVID-19 Lockdown, Russia-Ukraine War: FT

The International Energy Agency (IEA) has lowered its global oil demand forecast amid surging coronavirus cases in China and weaker than expected demand in the U.S. and other developed countries.

Newsroom.co.nz

NZ bolsters emergency oil stocks backed by offer of Marsden Point storage

New Zealand pre-ordered more oil stocks just before Russia invaded Ukraine, which have increased government reserves this month – at a critical time.

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Newslaundry

Climate change may threaten India’s food security, cripple GDP, IPCC report a grim reminder

The latest report of IPCC, the UN’s expert body of scientists on climate change, has come at a time when India has recorded the hottest March in 122 years and is suffering heat waves in the first week of April. It has special significance for India, which is among the…

Wales Online

New Zealand releasing 300,000 barrels of emergency diesel stored in UK

International Energy Agency aims to release 120m barrels of oil stocks to offset loss of Russian supplies

The Independent UK

Nations to release millions of barrels of oil amid war

The International Energy Agency says its member countries are releasing 60 million barrels of oil from their emergency reserves on top of previous U.S. pledges to take aim at energy prices that have soared since Russia invaded Ukraine

Benzinga

IEA Holds Emergency Meeting To Tackle Soaring Oil Prices: Reuters

The International Energy Agency (IEA) is set to hold an emergency meeting Friday among consuming nations to discuss a new release of strategic reserves alongside a plan by the United States to pump massive supplies starting in May to cool soaring oil prices,

Reuters

IEA states agree on coordinated oil release but not volumes

U.S.-allied countries on Friday agreed to their second coordinated oil release in a month to calm markets roiled by Russia's invasion of Ukraine, the International Energy Agency said on Friday, without specifying volumes.

The Conversation

Biden bets a million barrels a day will drive down soaring gas prices – what you need to know about the Strategic Petroleum Reserve

The Biden administration on March 31, 2022, said it plans to release an unprecedented 180 million barrels of oil from the U.S. Strategic Petroleum Reserve to combat the recent spike in gas and diesel prices. About a million barrels of oil will be released every day for up to six…

Asharq Al-Awsat

OPEC Holds Special Meeting to Ditch IEA Data

OPEC on Thursday held a brief extraordinary meeting to ditch the International Energy Agency from its list of trusted data contributors, an OPEC source said on Thursday. The meeting followed a regular policy decision meeting. Earlier this week, OPEC experts recommended ditching the IEA and choosing consultancies Rystad and Wood…

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