UK net zero ‘delusion’: A critical view
The former head of the UK's biggest oil and gas trade body Malcom Webb claims the achievement of UK net zero is a 'delusion' and will have 'no meaningful impact at the global level'.
International Energy Agency (IEA)
Scottish university innovation aims to seal 100,000 methane-leaking wells
Scotland's Heriot-Watt University has unveiled ambitions plans to help seal 100,000 methane-leaking wells over the next decade using a chemical injection technology.
Praise for ‘pragmatic’ Norway as Europe’s biggest gas producer at ONS
Norway's role supporting Europe through its energy crisis and cutting emissions in Africa and India was credited to its positive support for its oil and gas industry.
Global banks are nowhere near reaching their CO2 targets
Global banks aren’t living up to targets to cut their financing of activities that are directly fueling climate change, according to a new study by the World Resources Institute.
Climate change is pushing power demand and straining grids
The world’s demand for electricity in 2024 is set to grow at its fastest pace in years, but clean energy sources will also soar through 2025, the International Energy Agency forecasts.
Major oil surplus seen this decade as demand hits peak, IEA says
Global oil markets face a “major” surplus this decade as the shift away from fossil fuels causes demand to hit a plateau amid plentiful supply growth, the International Energy Agency said.
Energy industry’s methane emissions near record despite pledges
Global methane emissions from fossil fuels held near a record high last year, the International Energy Agency said in its annual Methane Tracker report, renewing concerns that governments and industry aren’t doing enough to stem releases of the devastating greenhouse gas.
Report warns of North Sea private equity cash wipeout on faster transition
Carbon Tracker says oil and gas cashflows are at major risk of plummeting demand, though industry leaders say North sea firms are integral to energy transition delivery
Why gender balance is good for business
Even though energy leaders around the world have established ambitious net zero targets for 2030 and beyond, the energy sector remains the source of around three-quarters of greenhouse gas emissions today, according to the International Energy Agency.
IEA warns COP28 fossil fuel pledges not enough to reach climate targets
International Energy Agency warns that even if the pledges made so far at COP28 summit are delivered, they will "not be nearly enough" to avert 1.5C warming
OPEC says the IEA has ‘unjustly vilified’ oil and gas industry
OPEC issued a strongly worded defense of the oil-and-gas industry days before the start of the biggest ever climate talks, pushing back against the International Energy Agency (IEA) and highlighting the increasingly fractious debate over how best to tackle global warming.
UK Government to mandate annual North Sea oil and gas licences
The UK Government plans to award North Sea oil and gas licences every year in new legislation being announced this week.
IEA tips winners and losers in future oil flows
Based on the IEA’s STEPS baseline scenario, Guyana will increase production to around 2mn bpd by the mid 2030s. Under the more conservative APS scenario, the IEA sees Guyana reaching 1.3mn bpd by 2035.
Net Zero Success Hangs on Rapid Power Grid Build-Out, IEA Says
Investment in the world’s electricity grids must double to more than $600 billion a year if nations are going to meet their climate targets and maintain energy security.
What do we use it for? Looking at the UK’s non-energy oil demands
From toys to medical supplies, oil is everywhere in domestic UK life and it plays a key role in the country's transport.
Equinor ‘not tone deaf’ to emissions debate on Rosebank
Meanwhile 2030 "is the earliest time" electrification could be achieved - years after first oil.
Saudi Arabia’s production cuts threaten a surge in oil price volatility, IEA warns
Oil supply cuts by Saudi Arabia and Russia will create a “significant supply shortfall” and threaten a renewed surge in price volatility, the International Energy Agency warned.
The vexed question of energy feedstock
In October 2018, the International Energy Agency published a report on the future of the petrochemicals industry, arguing that it was a Cinderella in the global energy futures conversation.
Solar power investment set to surpass oil production spending this year
Investors will pour more money into solar power than in oil production this year for the first time, signaling the scale and speed of the transition to low-carbon sources of energy.
Oil market faces bigger surplus even as China reopens
Global oil markets face a bigger surplus this quarter than previously expected, with demand still constrained despite China’s bid to reopen its economy from Covid lockdowns.
Renewables growth turbocharged by energy crisis: IEA
The International Energy Agency (IEA) said that global renewable capacity is expected to grow much quicker than previously forecast following the energy crisis.
Abigail: Ithaca marks first oil from tiny field despite big protests
Ithaca Energy (LON: ITH) has celebrated first oil from Abigail, a tiny North Sea oil and gas field which made national headlines this year.
Market says go for LNG, climate NGOs says stop
As COP27 continues apace, the slew of demands for more – or less – hydrocarbon investments is mounting.
Jeremy Cresswell: Strange times for humankind
As humankind drives relentlessly towards climate catastrophe, just a few days ago the International Energy Agency offered a crumb of comfort regarding CO2 emissions.
Even conservative estimates see fossil fuel use peaking soon
On Sunday, the global climate summit COP27 will convene in Egypt. Bloomberg Green will cover the conference in depth and we’ve been preparing for it, looking at Egypt’s future under a possible 3C of warming and discussing why every election is now a climate election.