Tag Archives: International Energy Agency (IEA)

Tightening markets for liquefied natural gas (LNG) worldwide and major oil producers cutting supply have put the world in the middle of “the first truly global energy crisis”, the head of the International Energy Agency (IEA) said on Tuesday (25 October). Rising imports of LNG to Europe amid the Ukraine …

Carbon dioxide (CO2) emissions from the combustion of fossil fuels globally are expected to rise by just under 1% in 2022, a much smaller increase compared to last year’s thanks to record deployment of renewable energy sources and electric vehicles, the International Energy Agency (IEA) said in a new analysis …

When the final estimates are determined, gas escaping from the Nord Stream pipeline disaster will likely be the largest recorded release of methane from the oil and gas industry. But remarkably, those catastrophic emissions represent about the same amount of methane the industry releases worldwide every few days. According to …

The number of carbon capture and storage projects in development grew to record levels this year on the back of rising carbon prices and government incentives, but would still only mitigate less than 1% of annual emissions, a new report finds. There are now 153 CCS projects in the planning …

The OPEC+ decision to sharply curtail oil production threatens to push prices to levels that tip the global economy into recession, the International Energy Agency warned. “The massive cut in OPEC+ oil supply increases energy security risks worldwide,” with “resulting higher price levels exacerbating market volatility,” the IEA said in …

The International Energy Agency (IEA) has predicted that global gas markets will remain tight next year as Russian piped gas supplies dwindle despite gas demand falling in Europe in response to high prices and energy saving measures. According to the agency, global natural gas markets have been tightening since 2021 …

Oil prices have declined by around $30 a barrel since the recent peak in early June before the Fed and other central banks started aggressive interest rate hikes to fight runaway inflation. The tightening monetary policy is expected to slow economic growth, while several financial market indicators suggest that the …

China faces its biggest annual drop in oil demand in more than three decades as Covid-19 lockdowns and a property crisis weigh on growth in the world’s No. 2 consumer, the International Energy Agency said. Chinese oil demand will decline by 420,000 barrels a day, or 2.7%, this year in …

Russia’s oil-export revenue contracted to $17.7 billion in August, the lowest since at least March, as a decline in crude prices more than offset higher supplies abroad, according to the International Energy Agency. That’s a drop of $1.2 billion from a month earlier, even as Russia’s daily crude and oil …

Iraq is planning to increase its crude oil production to phased targets of 5 to 8 million barrels per day (bpd) over time, according to the first vice president of the Iraq National Oil Company (INOC), Hamid Younis, last week. The director general of the Iraq Oil Exploration Company (IOEC), …