Tag: International Energy Agency (IEA)

• Wednesday, April 12th 2023 - 11:00 UTC

  IEA insists increasing fossil fuel production contradicts goals to stop global warming

  

  Fatih Birol, head of the powerful International Energy Agency, (IEA),, the Paris-based organization led by the energy ministers of mostly rich countries, has warned that companies that increase fossil fuel production are contradicting goals to stop the planet warming.

• Saturday, March 16th 2019 - 09:21 UTC

  Venezuelan continued oil fallout presents a challenge for global markets, says IEA

  

  A major advisor to energy producing nations has suggested that the continued fallout from Venezuela could present a “challenge” for global oil markets. The International Energy Agency (IEA) has warned that crude supplies from Venezuela are at risk of falling sharply in the midst of an electricity crisis which has paralyzed the country recently.

• Tuesday, November 20th 2018 - 08:43 UTC

  Venezuela preparing macroeconomic data to deliver to IMF

  

  Venezuela which is sitting on one of the world’s largest crude oil reserves but which is suffering the worst loss of oil production in history outside of war-induced outages is getting ready to share macroeconomic data with the International Monetary Fund to avoid penalties including possible exclusion from the IMF.

• Tuesday, September 25th 2018 - 07:45 UTC

  Oil market turbulence ahead of US sanctions on Iran; OPEC meeting does not plan to increase output

  

  Brent crude breached US$ 81 a barrel on Monday — its highest level in nearly four years — on the back of a tightening oil market and OPEC leaders signaling they won't be immediately boosting output. Global benchmark Brent crude rose as high as US$ 81.39 a barrel, its strongest level since Nov. 21, 2014.

• Wednesday, November 15th 2017 - 11:45 UTC

  US cements position as the world's largest oil and gas producer

  

  International energy markets are set for “major upheaval” as the US cements its status as the world's largest oil and gas producer, while China overtakes it as the biggest oil consumer. The predictions come from the International Energy Agency's annual energy forecast.

• Tuesday, February 14th 2017 - 12:17 UTC

  Petrobras credit rating raised to BB-: improved governance “compares well with those of its peers”

  

  Credit rating agency Standard & Poor’s on Friday raised its corporate credit rating on Petrobras, one notch, from B+ to BB-. The rating change does not lift Petrobras out of the non-investment grade category, but it lowers the risk from “highly speculative” to “speculative.”

• Friday, October 28th 2016 - 12:23 UTC

  Renewable energy overtakes coal in electricity generation capacity; half a million solar panels installed every day

  

  The International Energy Agency said in its latest report that last year the world's capacity to generate electricity from renewable sources has now overtaken coal, and renewable accounted for more than half of the increase in power capacity.

• Wednesday, September 16th 2015 - 09:18 UTC

  OPEC refuses to cut output pushing higher-cost oil producers out of the market

  

  The monthly report from the Organization of the Petroleum Exporting Countries said a weaker outlook for China would contribute to slower global oil demand growth next year. “U.S. oil production has shown signs of slowing,” OPEC said in the report. “This could contribute to a reduction in the imbalance of oil market fundamentals, however, it remains to be seen to what extent this can be achieved in the months to come.”

• Monday, August 10th 2015 - 06:46 UTC

  Global oil supply more fragile than you think

  

  Many oil companies had trimmed their budgets heading into 2015 to deal with lower oil prices. But the rebound in April and May to $60 per barrel from the mid-$40s suggested that the severe drop was merely temporary.

• Thursday, May 14th 2015 - 08:17 UTC

  Saudi Arabia continues to turn screws on U.S. Shale

  

  Saudi Arabia continues to ratchet up production, taking market share away from U.S. shale producers. According to OPEC's latest monthly oil report, Saudi Arabia boosted its oil output to 10.31 million barrels per day in April, a slight increase over the previous month's total of 10.29 million barrels.