Global coal consumption is expected to hit a record high in 2023. India’s demand is up 8%, and China’s is up 5%. Renewables are expected to pick up pace. The International Energy Agency (IEA) stated in research on Friday that the world’s coal consumption is predicted to hit a record high in 2023 due to … Read more
The first comprehensive report on COP28, indicates that the commitments would only reduce greenhouse gas emissions by 4 gig tons. According to the IEA, the pledges made “would not be nearly enough” to stay within the 1.5-degree limit. Over 120 countries, including the United States, have committed to tripling global renewable energy capacity. International Energy … Read more
The US will introduce a new rule to decrease methane emissions. The rule will be presented during the COP26 meeting. Methane emissions are expected to decrease by about 80% by 2038. As global temperatures rise, scientists and climate advocacy groups have pushed nations to swiftly limit emissions of methane, a potent gas that warms the … Read more
Concerns grow over decreasing aid to Afghanistan following Taliban takeover. ICRC cites lack of mandate and resources for long-term public healthcare support. Despite financial challenges, ICRC to continue other health programs in Afghanistan. Amidst dwindling funding, the International Committee of the Red Cross (ICRC) is anticipated to conclude its financial support for 25 Afghan hospitals … Read more
The IEA slashed its forecast for world oil demand growth next year by more than 20%. Citing further downgrades to global growth expectations from major institutions. Saudi Arabia and the White House are at odds over the cartel’s plan to cut oil production by 2 million barrels per day, or around 2% of world oil … Read more
Dr. Fatih Birol, IEA Executive Director said that utilizing less energy was a substantial way to help the Ukrainian people. They wanted to cut the energy bills and reduce reliance on Russian fuel. Birol added that following such a step would reduce the flow of money to Russia’s military. He continued, “And help put us … Read more
PARIS: The Omicron coronavirus variant will slow the recovery in the global demand for oil but the market will be “more comfortable” in 2022, the International Energy Agency (IEA) said on Tuesday. The oil market “appears to stand on a better footing than it has for some time,” the IEA wrote in its latest monthly … Read more
PARIS: The head of the International Energy Agency on Wednesday called on Opec and its allies to take measures to help bring oil prices down to “reasonable levels”. “I very much hope to see in the next meeting or meetings they… make the necessary steps in order to comfort the global oil markets and help … Read more
LONDON: Despite warning from analysts, US President Joe Biden finally announced the release of crude oil from the country’s strategic stockpile, a unilateral move first mooted by his Energy Secretary Jennifer Granholm in October, as he seeks to curb inflationary pressure in the US economy, Arab News reported. Gasoline prices nationwide are averaging about $3.40 a gallon, … Read more
TOKYO: Japan is considering releasing oil from its reserves for the first time to curb surging oil prices, Kyodo news agency reported, as Prime Minister Fumio Kishida signaled his readiness to counter oil price hikes following a request from the US. However, Japan may struggle to justify such a move, as under its own laws … Read more
PARIS: As warnings have intensified about the massive damage that climate change will have on the world in the coming decades, big business has started to make commitments to reduce carbon emissions. But are these companies making a genuine attempt to fight global warming, or simply “greenwashing” their brands to try to divert criticism while … Read more
Clean energy remains just a tiny part of the pandemic economic recovery plans despite some improvement, the IEA said on Thursday as it warned carbon dioxide emissions were set to rebound. Investments in clean energy — whether it is renewable production, electric vehicles or efficiency measures — represent only three percent of the $16.9 trillion … Read more
The International Energy Agency is urging governments to make stronger commitments to cut greenhouse gas emissions at an upcoming UN climate summit. The IEA is warning the world is not on track to meet environmental goals and that new investment in clean energy was needed to “jolt the energy system onto a new set of … Read more
The International Energy Agency (IEA) has predicted grim circumstances for the oil market across the world even after the successful trials of the coronavirus vaccine. According to the details, IEA forecasted that the vaccine was unlikely to ride to the rescue of the global oil market for a period of time. This projection came following a … Read more
International Energy Agency (IEA) has said that lockdown around the world due to coronavirus pandemic has set to cut the energy demand by record amounts. Media reports said that Global energy demand could slash by 6 percent in 2020 due to the restrictions placed on homes and industry. The cut would lead to a drop … Read more
