Oil Demand to Reach Record-High in 2023 – IEA
The International Energy Agency (IEA) stated on Wednesday in its initial outlook for 2023 that oil demand growth will accelerate next year, with world demand averaging a record 101.6 million...
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Global Electricity Demand Rose by 6% in 2021 – IEA
Last year, rebounding economies and extreme weather contributed to a 6% increase in worldwide energy consumption, the greatest percentage increase since the 2010 recovery from the 2008-2009 financial crisis, according...
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Oil will Average $79.40 in 2022 – IEA
According to the International Energy Agency, which raised its oil price forecasts for 2021 and 2022, Brent Crude prices are likely to average $79.40 next year. According to the latest...
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IEA Believes Energy Prices Will Continue to Rise without Significant Investment in Clean Energy
The International Energy Agency warns that global energy market volatility and price increases will continue without a significant increase in clean energy investment. Consumer consumption demands must be met by...
Read More Investment in Low Carbon Energy Must Triple to Fulfil Paris Agreement – IEA
Fatih Birol, the head of the International Energy Agency, told the Financial Times that if the world is to fulfil its Paris Agreement commitments, investments in low-carbon energy must triple....
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EIA Predicts Accelerating Renewable Usage, Increase in Demand for Oil and Gas
According to the latest report from the US Energy Information Administration (EIA), global demand for renewables will grow at the fastest rate through 2050, but demand for petroleum and other...
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World’s Largest Oil Exporters Disagree with IEA’s “Unrealistic” 2050 Net Zero Roadmap
Some of the world's most powerful oil and gas leaders have dismissed the International Energy Agency's proposal for an immediate halt to oil and gas investments to reach net-zero emissions...
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Nigeria’s Crude Oil Capacity Will Drop by 200,000 BPD by 2026 – IEA
In a new report titled 'Oil 2021: Analysis and forecast to 2026' the International Energy Agency (IEA) forecasts that crude oil capacity in Nigeria will drop by 200,000 barrels to 1.6...
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IEA Discusses Challenges of Nigeria and other African Refiners in New Report
A new report by the Paris-based International Energy Agency (IEA) assesses refineries in African countries, their current capabilities and factors hindering their growth and expansion. Some of the African countries...
Read More Oil Production in Gabon to Drop by 10,000 bpd in 2021
Gabon oil production in 2021 is to drop by over 10,000 barrels per day, according to the country's budget bill that is currently under review. The drop is credited to...
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