World Oil CALGARY (Bloomberg) –Canada will face challenges in retaining its status as a global oil and gas power in a world transitioning toward net zero carbon emissions by mid-century, the International Energy Agency said. The country seeks to remain “a major global oil and gas supplier” beyond 2050 even as countries, including Canada itself, push toward emission cuts,
Reuters CALGARY, Alberta – Canada, the world’s fourth-largest oil producer, needs to give clear policy signals and leverage its abundant clean electricity resources to sharply cut carbon emissions, the International Energy Agency (IEA) said on Thursday in a review of the country’s energy policies. More than 80% of Canada’s electricity supply comes from non-emitting sources, mainly thanks to its huge
CNBC Coal-fired power generation is due to hit an all-time high this year, according to a report from the International Energy Agency, with the organization’s executive director calling for urgent action to mitigate emissions from the sector. The IEA’s report, Coal 2021, noted the planet’s coal power generation was on a trajectory that would see it rise by 9% in
World Oil LONDON (Bloomberg) –Oil forecasters have parted company on their views about demand in the coming months, as the omicron variant of the Covid-19 virus spreads rapidly around the world. And producers have emerged as the surprising bulls in the latest round of estimates. The International Energy Agency, the U.S. Energy Information Administration and the Organization of Petroleum Exporting
Reuters LONDON – The International Energy Agency (IEA) on Tuesday upped its average Brent crude oil price assumption for 2022 to $79.40 a barrel, but predicted a rally may ease off as prices that hit a three-year high last month push up global production. Brent is expected to average $71.50 a barrel this year, it added, in a rarely published
Reuters LONDON – A global energy crunch is expected to boost oil demand by 500,000 barrels per day (bpd) and could stoke inflation and slow the world’s recovery from the COVID-19 pandemic, the International Energy Agency (IEA) said on Thursday. Oil and natural gas prices have soared to multi-year highs recently, sending power prices surging to record levels as widespread
World Oil (Bloomberg) –Oil in New York surged past $81 a barrel after the International Energy Agency became the latest to say natural gas shortages are boosting demand for crude. WTI crude futures rose 1.5% to near the highest level since 2014. Record gas prices could add about 500,000 barrels a day of oil use over the next six months,
CNBC Low-carbon hydrogen isn’t “cost competitive with other energy supplies in most applications and locations” and the situation is unlikely to change unless there’s “significant support to bridge the price gap,” according to the World Energy Council. Published Tuesday, the analysis – which was put together in collaboration with PwC and the U.S. Electric Power Research Institute – raised the
Nasdaq LONDON – The global rebound from the COVID-19 pandemic is set to drive emissions of greenhouse gases that stoke climate change to all-time highs, the Paris-based International Energy Agency said in a report on Tuesday. “We estimate that full and timely implementation of the economic recovery measures announced to date would result in CO2 emissions climbing to record levels
CNBC The planet’s demand for electricity is set for a strong rebound this year and next after dropping by approximately 1% in 2020, according to a new publication from the International Energy Agency. Released Thursday, the IEA’s Electricity Market Report forecasts that global electricity demand will jump by nearly 5% in 2021 and 4% in 2022 as economies around the
Reuters NEW YORK -Oil prices edged up to multi-year highs on Friday, heading for a third straight week of gains on the improved outlook for worldwide demand as rising vaccination rates lead to a lifting of pandemic curbs. Brent crude futures rose 35 cents to $72.87 a barrel by 11:20 a.m. EDT (1520 GMT), a day after closing at their highest
Reuters Several Total (TOTF.PA) shareholders plan to demonstrate their concern that the French firm is not doing enough to curb carbon emissions at its shareholder meeting on Friday, as global oil and gas companies come under growing environmental pressure. The International Energy Agency has warned that new fossil fuel projects must stop this year if the world wants to reach net zero
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