New IEA medium-term report sees oil use for transport going into decline after 2026, but overall consumption is expected to be supported by strong petrochemicals demand. Growth in the world’s demand for oil is set to slow almost to a halt in the coming years, with the high prices and security of supply concerns highlighted … Continue reading Growth in global oil demand is set to slow significantly by 2028
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Danish authorities order Ørsted’s oil- and coal-fired power stations into operation
In order to ensure the security of the electricity supply in Denmark, the Danish authorities have decided to order Ørsted to continue and resume operations of three of its power station units which use oil and coal as fuel. This applies to unit 3 at Esbjerg Power Station and unit 4 at Studstrup Power Station, … Continue reading Danish authorities order Ørsted’s oil- and coal-fired power stations into operation
Continue readingEquinor to stop trading in Russian oil
Following the announcement that Equinor has started the process to exit its projects in Russia, a decision has been made that Equinor will also stop trading in Russian oil. This means that Equinor will not enter any new trades or engage in transport of oil and oil products from Russia. This is part of Equinor’s … Continue reading Equinor to stop trading in Russian oil
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Support to fossil fuels remains high and the time is ripe for change
Government support to fossil fuel consumption and production in OECD countries and key emerging economies remains high, at USD 160-200 billion annually, according to a new OECD report. This support is hampering global efforts to curb emissions and combat climate change. The OECD Inventory of Support Measures for Fossil Fuels 2015 takes stock … Continue reading Support to fossil fuels remains high and the time is ripe for change
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BP Statistical Review shows 2014 was a year of ‘tectonic’ shifts in global energy production and consumption
The 2015 edition of the BP Statistical Review of World Energy, launched today, highlights how significant changes in global energy production and consumption have had profound implications for prices, for the global fuel mix, and for global carbon dioxide emissions. The 64th annual edition of the Statistical Review highlights the continuing importance of the US … Continue reading BP Statistical Review shows 2014 was a year of ‘tectonic’ shifts in global energy production and consumption
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A business-as-unusual outlook for oil in the medium term
The recent crash in oil prices will cause the oil market to rebalance in ways that challenge traditional thinking about the responsiveness of supply and demand, the International Energy Agency (IEA) said in its annual Medium-Term Oil Market Report (MTOMR) released today. The US light, tight oil (LTO) revolution has made non-OPEC production more responsive … Continue reading A business-as-unusual outlook for oil in the medium term
Continue readingOil doesn’t directly compete with solar energy and wind power
Renewable-energy companies have made tremendous strides in reducing costs and growing markets. So what the Fed does on interest rates next year is crucial. The longer low inflation stays the Fed’s hand, the more time the renewable industry has to funnel cheap capital toward its next breakthrough. Oil’s volatility upward makes consuming nations want to … Continue reading Oil doesn’t directly compete with solar energy and wind power
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Oil price plunge and renewable energy
The 45% fall in oil prices is being portrayed as a big blow to clean energy deployment. In fact, its impact will vary by sector and region, but will be modest in major electricity markets where renewables compete with gas and coal, and benefit from stable policy support. The collapse in world oil prices in … Continue reading Oil price plunge and renewable energy
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BP Statistical Review shows strength of global energy system amid disruptions and shifting world economy
The BP Statistical Review of World Energy 2014 – launched today at the World Petroleum Congress meeting in Moscow – reveals how the world of energy echoed broader global themes in 2013. Emerging differences in global economic performance, geopolitical uncertainty and ongoing debates about the proper roles of government and markets are all reflected in … Continue reading BP Statistical Review shows strength of global energy system amid disruptions and shifting world economy
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What is the future of fossil fuel?
After concluding that global warming almost certainly is man-made and poses a grave threat to humanity, the U.N.-sponsored expert panel on climate change is moving on to the next phase: what to do about it. The Intergovernmental Panel on Climate Change, or IPCC, will meet next week in Berlin to chart ways in which the … Continue reading What is the future of fossil fuel?
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Rising energy demand a threat to water supplies
Rising demand for energy, from biofuels to shale gas, nuclear power, coal and oil, is a threat to freshwater supplies that are already under strain from climate change, the United Nations said in a report on Friday. It urged energy companies to do more to limit the use of water in everything from cooling coal-fired … Continue reading Rising energy demand a threat to water supplies
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What A Year: 45 Fossil Fuel Disasters The Industry Doesn
While coal, oil, and gas are an integral part of everyday life around the world, 2013 brought a stark reminder of the inherent risk that comes with a fossil-fuel dependent world, with numerous pipeline spills, explosions, derailments, landslides, and the death of 20 coal miners in the U.S. alone. Despite all this, our addiction to … Continue reading What A Year: 45 Fossil Fuel Disasters The Industry Doesn
Continue readingOil
Fossil fuels continue to power global economic growth and energy security, and the competition for these resources remains a significant concern for governments around the world. Although OPEC has played a key role on the production side of the international oil market over the past four decades, the consumer landscape has changed dramatically since 1973. … Continue reading Oil
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Fossil fuels dominate energy consumption
Coal, natural gas, and oil accounted for 87 percent of global primary energy consumption in 2012. The International Energy Agency predicts that by 2017 coal will replace oil as the dominant primary energy source worldwide. Global natural gas production grew by 1.9 percent in 2012, dominated by the United States (with 20.4 percent of the … Continue reading Fossil fuels dominate energy consumption
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Train or Pipeline, the Answer is the Same
The
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Ecuador approves Yasuni park oil drilling in the Amazon
Ecuador has abandoned a conservation plan that would have paid the country not to drill for oil in previously untouched parts of Yasuni National Park in the Amazon rainforest. President Rafael Correa said rich nations had failed to back the initiative, leaving Ecuador with no choice but go ahead with drilling. The park is one … Continue reading Ecuador approves Yasuni park oil drilling in the Amazon
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China’s government plans to boost its goal for solar power installations by 2015 from 21 GW to 35 GW
The decision, which is expected to help the country’s struggling PV manufacturers, was made in response to the high levels of hazardous pollution currently affecting Beijing and other Chinese cities. Beijing in China has seen smog in the city reach record levels this January and intends to do something about it. Fossil fuels have played … Continue reading China’s government plans to boost its goal for solar power installations by 2015 from 21 GW to 35 GW
Continue readingLa AIE advierte de una reducción rápida de las reservas de petróleo
La recuperación económica está amenazada por una ‘crisis energética’ debido a que la mayoría de los grandes campos petrolíferos ya han superado su máximo de producción, advirtió el economista jefe de la AIE.
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