International Energy Agency

Energy jobs in India accounted for 1.5% of total employment in India at 8.5 million in 2023

China, which has accounted for more than 60 per cent of global oil demand growth in the last decade

Surplus fossil fuel supplies would likely lead to lower prices and could enable countries to dedicate more resources to clean energy, moving the world into an age of electricity, they said

Global oil demand is experiencing its slowest growth since 2020, primarily due to weak demand from China and a drop in Russia's global oil supply

The strong increase in global electricity consumption is set to continue into 2025, with growth around 4 per cent again, according to the report

The Organization of Petroleum Exporting Countries (OPEC) stuck to a forecast for relatively strong growth in global oil demand for 2024 and Goldman Sachs projected solid US fuel demand this summer

India's high demand for oil and low domestic output are increasing the dependence on imports. The 'supportive' upstream policy, if backed by lower taxes, could turn things around

Expanding the global energy body membership to include India is crucial for ensuring global energy security

Ministers from the International Energy Agency's member countries have begun talks with India on its application to become a full member of the Paris-based agency of 31 nations, IEA said on Wednesday. In a statement issued after IEA's 2024 ministerial meeting in Paris, the agency said the talks with India are in recognition of the country's "strategic importance" in tackling global energy and climate challenges. "The Ministerial gave the IEA a strong mandate to deepen cooperation with major emerging economies. This includes starting discussions with India on its request for full IEA membership," it added. India, which joined the IEA as an associate member in 2017, sent a formal request for full membership in October 2023. "Ministers recognised the 'strategic importance' of India in tackling global energy and climate challenges," IEA said. Addressing the meeting through video conferencing, Prime Minister Narendra Modi said India is the world's fastest-growing major economy. "Susta

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The country is already second largest net importer of the fuel, say agency in report on energy security

India must explore both domestic reform and foreign outreach

The agency forecast India's demand would reach 6.6 million bpd in 2030, up from 5.5 million bpd in 2023

OPEC believes oil use will keep rising over the next two decades, while the IEA, which represents industrialised countries, predicts it will peak by 2030

Indian oil product deliveries edged higher in November but were underwhelming compared to the usual seasonal rise, the agency noted. Deliveries in November increased by 40,000 barrels per day

The IEA delegation was led by Deputy Executive Director Mary Burce Warlick, the MEA informed, adding that the two sides held discussions on New Delhi's cooperation with the global agency

Global natural gas demand growth to slow to 1.6 % till 2026, down from 2.5%

The IMF said phasing out coal is necessary to reach climate goals, though it is challenging as many EMDEs highly depend on coal

Net zero goal still alive, says IEA but the world still faces major obstacles to reach it

Fatih Birol added that this is the first time that a peak in demand is visible for each fuel this decade, and it is earlier than most people anticipated