A new report by the International Energy Agency (IEA) has found that global energy demand is only expected to rebound to its pre-Covid levels by early 2023, if the pandemic is not prolonged. The IEA said that in the event of a prolonged pandemic, global energy demand would only rebound …
Read More »Qatar Books Key U.K. LNG Supply Deal as Export Push Begins
Qatar Petroleum is set to ramp up exports of liquefied natural gas to the U.K. as the Persian Gulf country seeks buyers for the output from a new project and several large supply contracts are due to expire. Qatar reserved capacity for as much as 7.2 million tons of LNG …
Read More »Iraq Discusses with BP Developing Oil Industry and Investing in Gas
The Minister of Oil, Ihsan Abdul-Jabbar Ismail, stressed on Tuesday the importance of expediting plans for gas investment associated with oil operations in Al-Rumaila oil field. Ismail said in a statement received by Shafaq News agency, “the maintenance of production in Al-Rumaila oil field and the available investment opportunities in …
Read More »Total and Google Create Tool to ‘Map’ Solar Potential of European Homes
“Solar Mapper” aims to accelerate the deployment of solar panels for individuals, providing “an accurate and rapid estimate of the solar energy potential of their homes”. The tool will be rolled out for Europe and then worldwide. It will use artificial intelligence algorithms to provide better results than current tools, …
Read More »Oil Industry is Waging Price War against Recycled Plastics amid Pandemic Demand Boom
With the coronavirus pandemic fuelling the demand for plastics, from face shields to packaging used for online shopping deliveries, oil industry players are taking advantage and starting a price war between new plastics that they manufacture against recycled plastics. Across the world, statistics are also showing that recyclers are losing …
Read More »Refiners Face Mounting Pressure on Growing Demand, Capacity Imbalance
Refiners face an existential crisis as the growing divergence between refining capacity and demand for refined products will intensify sharply in the next two decades, the International Energy Agency said Oct. 13. More than 6 million b/d of new capacity will come online from now to 2025, but demand will …
Read More »Germany Warns Ankara against ‘Provocation’ in East Med as Turkish Survey Ship Sets Sail
German Foreign Minister Heiko Maas urged Turkey to refrain from “provocation” in the Eastern Mediterranean, while signalling support for Cyprus and Greece in gas drilling dispute. “Ankara must end the interplay between detente and provocation if the government is interested in talks – as it has repeatedly affirmed,” Maas said …
Read More »Solar, The New King of Electricity
Solar output is expected to lead a surge in renewable power supply in the next decade, the International Energy Agency said, with renewables seen accounting for 80% of growth in global electricity generation under current conditions. In its annual World Energy Outlook on Tuesday, the IEA said in its central …
Read More »The World’s Top Energy Agency Is Pressing for Aggressive Carbon Cuts
The world’s most authoritative body of energy analysts, the International Energy Agency, has found in its annual flagship report that the world is headed toward global warming higher than the Paris Agreement’s most aggressive limit of 1.5°C. The agency, long known for its expertise in fossil fuels, lays out a …
Read More »Global Crude Oil Demand to Peak in 25 Years
The Organisation of Petroleum Exporting Countries (OPEC) has projected that despite the growing need for renewables as a source of energy, crude oil and its associated products will remain the largest contributor to the energy mix in the next 25 years. In its annual World Oil Outlook (WOO) 2020, released …
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