Page 2 - International Energy Agency

G20 ETWG: Consensus of energy efficiency, hydrogen still to be ironed out

The International Energy Agency in a report last month noted - ramping up annual energy efficiency progress over 4 per cent annually by 2030

World not on track to reach energy goal, 2.3 bn use polluting fuel: Report

The report said that at the current estimate, 660 million people are projected to be without electricity and 1.9 billion won't have clean cooking opportunities by 2030

Investments in green energy now 70% higher than in fossil fuels: IEA

The Paris-based agency said that the war in Ukraine has accelerated momentum behind the deployment of clean energy technologies

Solar power investment set to surpass oil production spending this year

The growth in clean energy spending is driven by technologies including solar panels and electric vehicles that are key to cutting dependence on the use of oil, coal and natural gas

Carbon dioxide emissions reached a record high in 2022, says IEA

In Europe, electricity generation from wind, solar power exceeded gas or nuclear for the first time

SUV growth weighs on emissions, batteries: International energy agency

Ever bigger cars pose a growing problem for the environment because they produce more greenhouse gas emissions and need larger batteries than their smaller cousins, according to the International Energy Agency. The Paris-based body suggested Monday that it's time for the car industry to downsize its vehicles, citing data that showed the world's 330 million sports utility vehicles, or SUVs, pumped out almost 1 billion metric tons of carbon dioxide in 2022. That's more than the annual emissions of an industrial nation like Germany. The shift towards heavier and less fuel-efficient conventional vehicles increases growth in both oil demand and CO2 emissions," the agency said, noting that SUVs consume about a fifth more gasoline than an average medium-sized car. Between 2021 and 2022, oil use in conventional cars, excluding SUVs, remained roughly the same, but the oil consumption of SUVs globally increased by 500,000 barrels per day, accounting for one-third of the total growth in oil .

No excuse for high methane emissions: Energy agency chief Fatih Birol

The International Energy Agency on Tuesday accused fossil fuel industries of doing too little to curb methane emissions and undermining global climate goals to limit warming. Economic uncertainty, high energy prices and concerns over security of supply, which would have led to emissions cuts in 2022, were ineffective as methane emissions remained stubbornly high, the report said. Methane cuts are among the cheapest options to limit near-term global warming," said IEA's executive director Fatih Birol. "There is just no excuse. The IEA's annual Methane Gas Tracker found that 75 per cent of methane emissions from the oil and gas sector can be reduced with far cheaper and readily available technologies. Methane, which makes up natural gas, can escape into the air from oil and gas infrastructure. Fossil fuel companies may also flare or burn off excess gas that can release methane into the atmosphere. The report slammed oil and gas majors' refusal to pay up the some USD 100 billion need

Govts spent record $1 trillion last year subsidising fossil fuels

The splash of state cash on energy last year followed climate talks in November 2021 when world leaders pledged to end such subsidies.

LiFE initiative by Modi can help address climate challenges: Fatih Birol

Birol said LIFE initiative of the Prime Minister is a source of inspiration for other countries and can help in meeting climate challenges

India's economy already 10% more energy efficient than G20 average: IEA

LiFE measures can also help lower inequalities in energy consumption and emissions between countries

Here's why Indian renewable energy plan pales in front of Europe and China

An International Energy Agency report suggests that New Delhi's action on renewable deployment on the ground pales in front of Europe and China

COP27 fails to turn off the oil tap as global production hits all-time high

The latest global climate summit has failed to even mention the reduction of fossil fuel usage, a key demand from India, in the final agreement text at Egypt

How govt's tight control is slicing away Coal India's creamy layers

Larger shares of the state-owned miner's production are sold significantly below global benchmark prices, deterring global investors from participating in divestment plans

Global crises can speed up transition towards clean energy: Report

Spiralling energy costs caused by various economic factors and the Ukraine war could be a turning point toward cleaner energy, the International Energy Agency said in a report Thursday. The Paris-based organisation found the global demand for fossil fuels, including coal, oil, and natural gas, is set to peak or plateau in the next few decades. The report looked at scenarios based on current policies and said that coal use will fall back within the next few years, natural gas demand will reach a plateau by the end of the decade and rising sales of electric vehicles mean that the need for oil will level off in the mid-2030s before ebbing slightly by mid-century. Total emissions are currently going up each year, but slowly. "Energy markets and policies have changed as a result of Russia's invasion of Ukraine, not just for the time being, but for decades to come, said the IEA's executive director Fatih Birol. A surge in demand following COVID-19 pandemic restrictions lifting and ...

World is in its 'first truly global energy crisis': IEA chief Fatih Birol

The head of the International Energy Agency said its members have oil reserves available to conduct another round of releases if needed

Oil rises 2% on supply concerns, expectations for gas-to-oil switching

Brent crude futures rose by $1.86 a barrel, or 2%, to $95.03 by 11:58 a.m. EDT (1558 GMT). U.S. West Texas Intermediate crude gained $2.06, or 2.4%, to $89.37.

Centre aims to boost refining capacity as fuel demand continues to rise

The oil ministry has been asked by the government to prepare a report on the country's future fuel demand and refining capacity needs

Oil steady as International Energy Agency hikes 2022 demand growth forecast

Brent crude futures slipped 7 cents, or 0.1%, to $97.33 a barrel by 0829 GMT, while U.S. West Texas Intermediate crude futures eased 9 cents, or 0.1%, to $91.84.

India's bet on gas-based economy runs into Ukraine war challenges

As the Ukraine-Russia conflict pushes up prices and Europe outbids South Asia for scarce supplies, billions of dollars in domestic gas infrastructure investment are at risk

IEA says oil market walking tightrope due to economic, supply risks

The estimate fell far short of producer group OPEC's estimate for the year of 3.4 million bpd growth on Tuesday