At COP29-IEA roundtable, participants from across public and private sector exchange views on getting capital to projects that need it, especially in emerging and developing economies
Energy supply security remains a central pillar of the global policy agenda as international oil trade flows are upended by wide-ranging sanctions on Russia and attacks on tankers transiting the critical Red Sea shipping corridor. At the same time, Asia’s growing structural shortfall in crude and oil products and the ever‑expanding supply surplus in the Atlantic Basin are creating new trade routes in the global oil market. This eastward shift to non-OECD Asia, especially China and India, is coinciding with a multitude of new challenges driving oil market activity as the energy transition gathers pace. Increased use of EVs, emerging clean energy technologies and more expansive efficiency policies are combining to chart a much slower growth trajectory for oil demand, plateauing towards the end of our 2023-2030 forecast period. Oil 24, the IEA’s medium-term outlook, explores these critical developments and their impact on the global oil market.
Oil 2024 looks beyond the short-term horizon covered in the IEA’s monthly Oil Market Report to provide a comprehensive overview of evolving oil supply and demand dynamics through to 2030. The report provides detailed analysis and forecasts of oil demand fundamentals across fuels, sectors and regions. It also outlines projected supply from planned upstream and downstream projects around the world. Our findings provide compelling insights on spare production capacity, product supply and trade flows, as well as the implications of surging output of natural gas liquids (NGLs) in this era of petrochemical-driven demand growth.
Intersolar Europe is a premier exhibition for the solar sector, showcasing photovoltaics, solar thermal systems, and power plants. It provides a platform for international industry leaders to discuss trends, discover innovations, and expand their customer base.
The OPEC Basket is a weighted average of oil prices from the different OPEC members around the world. Members of the Organization of the Petroleum Exporting Countries (OPEC) contribute data that forms the basis of the basket. The basket is a benchmark, or reference point, for those monitoring the oil price and the stability of the global oil market.
Grema Sulaiman, Chairperson of the Centre for Energy Investment and Innovation (CEII), has announced how he is revolutionizing the energy industry through collaboration and innovation.
Oil major TotalEnergies (TTEF.PA), and utility EnBW (EBKG.DE), won a 2.5 gigawatt (GW) German offshore wind site auction that fetched $3.2 billion, the country’s energy regulator said on Friday, marking a plunge in price from last year.
The U.S. government opened up on Friday competitive bidding that will close on Aug. 26 for $850 million in grants to help small oil and gas producers monitor and reduce methane from their operations, a major part of the Biden administration’s plan to crack down on leaks of the potent greenhouse gas.
TotalEnergies, operator of Oil Mining Lease 58 onshore licence in Nigeria with a 40 per cent interest, together with the Nigerian National Petroleum Company Limited (60 per cent), on Thursday, signed a $550m Final Investment Decision..
The average retail price for refilling a 5kg cylinder of Liquefied Petroleum Gas (LPG), commonly known as cooking gas rose by 70.12 per cent, Year-on-Year, YoY to N7,418.45 in May 2024 from N4,360.69 in May 2023.
Grema Sulaiman, the Director General of the Centre for Energy Investment and Innovation (CEII), participated in the second day of the prestigious Public Investment Fund (PIF) – Private Sector Forum.