Tag Archives: International Energy Agency (IEA)

The New Gold Rush in the Era of Clean Energy

As governments worldwide introduce new climate policies with greater levels of funding for renewable energy projects and decarbonisation efforts, more and more companies are launching green energy projects. But with more clean energy comes a higher demand for key metals and minerals, needed for renewable energy equipment components, electric vehicles, …

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China Leans on Coal as Hydropower Slumps

China is investing record amounts of money into renewable energy sources, but it continues to rely heavily on coal to cope with rising power demand. During the first half of this year, coal production, coal imports, and coal-fired electricity generation jumped and offset a significant decline in power output at …

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IEA: Major Uncertainties Remain for EU Gas Market

The European gas market still faced “major uncertainties” ahead of winter and a full halt to Russian gas flows could reignite tension, said the International Energy Agency (IEA). “Fierce competition for gas supplies could also emerge if northeast Asia experiences colder than usual weather and economic growth is stronger than …

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IEA Revises down Oil Demand Outlook but still Sees Record

The International Energy Agency has revised down its forecast for oil demand growth this year, due to “persistent macroeconomic headwinds”, but it still expects global consumption to reach a record 102.1m bbl/day. The Paris-based intergovernmental organisation estimated global oil demand would grow by 2.2m bbl/day in 2023, down from its …

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IEA Warns of a Spike in Energy Prices this Winter

Energy prices could spike again this winter, the head of the International Energy Agency has warned. Speaking to the BBC, Fatih Birol said that if China’s economic recovery from the pandemic accelerated later this year and the winter in the northern hemisphere was harsher than last year’s, prices would rise. …

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IEA: India to Add 1 mb/d of Refining Capacity by 2028

India, the world’s fourth largest crude oil refiner, is expected to add one million barrels per day (mb/d) of refining capacity in the next five years. According to the latest refining capacity numbers by the International Energy Agency (IEA), India will increase its refining capacity from 5.2 mb/d in 2022 …

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