Tag: IEA

According to a new IEA report, global oil consumption is now forecast to rise by 5.4 mb/d in 2021, 270 kb/d lower than in its previous report.

International energy and climate leaders from more than 40 countries took part in the IEA-COP26 Net Zero Summit to identify how to work together to reduce global greenhouse gas emissions and meet the goals of the Paris Agreement. 

There may be no return to “normal” for the oil market in the post-Covid era, although the global economy and oil markets are recovering from the historic collapse in demand caused by COVID-19 pandemic in 2020, according to a new IEA report. 

Reducing methane emissions from oil and gas operations is among the most cost-effective and impactful actions that governments can take to achieve global climate goals, said the International Energy Agency (IEA) in a new report. 

The International Energy Agency (IEA) informed that will produce the world’s first comprehensive roadmap for the energy sector so as to achieve net-zero emissions by 2050.

Saudi Arabia, UAE and IEA are discussing with the Japanese goverment on how to promote the use of ammonia into the fuel mix for thermal power generation as well as for shipping from the late 2020s.

Offshore wind capacity additions are forecast to reach 5.3 GW in 2020, 13% less than 2019 growth, as the offshore wind industry has been largely shielded from the COVID‑19 crisis, according to IEA. For the first time, China accounts for over half of global offshore wind expansion, while European countries provide the remainder.

Biofuels used in transport are set to experience their first annual decline in two decades, driven by the wider plunge in transport fuel demand this year as well as lower fossil fuel prices reducing the economic attractiveness of biofuels, IEA says in a new report. 

The International Energy Agency (IEA) recently issued its Oil Market Report (OMR) focused on the global oil market including detailed statistics and commentary on oil supply, demand, inventories, prices and refining activity.

A sharp increase in the deployment of carbon capture, utilization and storage (CCUS) technology is needed worldwide if countries want to meet net-zero emissions targets and slow climate change in line with Paris Agreement, IEA said on Thursday.