IEA

North Sea Oil Exploration Continues Despite Climate Reports

The United Kingdom will not commit to halting new oil exploration in the North Sea, a government energy body told Reuters, despite a warning from the world’s top energy watchdog to rein in fossil fuels spending to achieve climate goals, reports Reuters.

UN Conference

The UK is due to host the U.N. Climate Change Conference (COP26) in Glasgow, Scotland, in November and commissioned the International Energy Agency (IEA) to chart a path towards net-zero emissions by 2050.

The agency published its...

https://mfame.guru/north-sea-oil-exploration-continues-despite-climate-reports/

Tanker Market To Expect Strong Demand On Post-Pandemic Recovery

The tanker market is set to benefit from the recovery of the global economy and trade as more oil is expected to enter the market in the coming months, reports Offshore Energy.

Demand for tankers

Easing of oil production restrictions by OPEC and depletion of world oil inventories are set to boost demand for tankers as more barrels are added to the market.

“With all of the stimulus spending, potential infrastructure spending, continued quantitative easing, strong consumer and business balance...

https://mfame.guru/tanker-market-to-expect-strong-demand-on-post-pandemic-recovery/

IEA Releases World’s First Comprehensive Energy Roadmap Report

  • It is narrow and requires an unprecedented transformation of how energy is produced, transported and used globally, the International Energy Agency said in a landmark special report released today.
  • The report is the world’s first comprehensive study of how to transition to a net zero energy system by 2050 .

According to a press release published by IEA, Hydrogen and ammonia together could together take up 63% of global bunker demand by 2050 if the world sticks to a net-zero emissions target...

https://mfame.guru/iea-releases-worlds-first-comprehensive-energy-roadmap-report/

IEA Report Says ‘No New Fossil Projects’ To Reach Zero Emissions Target

  • Global oil demand to shrink by 75% under net-zero scenario
  • IEA still expects oil demand to recover from pandemic hit
  • OPEC market share would jump, revenues slide under net-zero shift

The International Energy Agency has said the world needs no new oil and gas developments and global oil demand would collapse by 75% under an energy scenario needed to put the world on a path to net-zero emissions by 2050, reports Platts.

Net Zero by 2050

Climate pledges by governments to date – even if fully...

https://mfame.guru/iea-report-says-no-new-fossil-projects-to-reach-zero-emissions-target/

Critical Minerals Essential for Key Clean Energy Technologies

In the most comprehensive global study yet, IEA shows need for government action to ensure reliable, sustainable supplies of elements vital for EVs, power grids, wind turbines and other key technologies, says a press release on their website.

World’s Climate Goals

Supplies of critical minerals essential for key clean energy technologies like electric vehicles and wind turbines need to pick up sharply over the coming decades to meet the world’s climate goals, creating potential energy security...

https://mfame.guru/critical-minerals-essential-for-key-clean-energy-technologies/

Gibson Tanker Report – All Eyes on India

In April 2021 World Economic Outlook, the International Monetary Fund (IMF) lifted global economic growth projections for 2021 and 2022 by 0.8% and 0.2% to 6% and 4.4% respectively due to the anticipated vaccine-driven recovery in the 2nd half of this year and additional fiscal support in some major economies, most notably the $1.9 new fiscal package in the US. In line with the IMF projections, the International Energy Agency (IEA) also revised upwards its expectations for world oil demand...

https://mfame.guru/gibson-tanker-report-all-eyes-on-india/

Oil Price ‘Supercycle’ Not Anywhere, Say IEA

  • Will crude oil prices continue their recent dramatic boom as the pandemic recovery takes hold? Perhaps not.
  • Some analysts are expecting crude prices to surge near $100 per barrel as coronavirus lockdowns end and travel resumes.
  • But the IEA, which monitors energy market trends for the world’s richest countries, thinks there is too much oil sloshing around global markets for a supercycle to take hold.

A recent news article published in the CNN written by Charles Riley analyze about the rising...

https://mfame.guru/oil-price-supercycle-not-anywhere-say-iea/

Global Emission Levels Rebound As Economies Continue To Grow

The Covid-19 crisis in 2020 triggered the largest annual drop in global energy-related carbon dioxide emissions since the Second World War, according to IEA data released today, but the overall decline of about 6% masks wide variations depending on the region and the time of year, reports IEA.

A increase in global emission

After hitting a low in April, global emissions rebounded strongly and rose above 2019 levels in December. The latest data show that global emissions were 2%, or 60 million...

https://mfame.guru/global-emission-levels-rebound-as-economies-continue-to-grow/

The Future Of LNG As A Marine Fuel

Today, LNG-fuelled vessels amount to approximately 13% of the current newbuild order book and estimates for 2021 and beyond show continuing growth in many classes of vessels, reports The Maritime Executive.

Reducing the carbon footprint 

Importantly, 2020 also saw the first uses of bio-LNG by deep-sea ocean vessels, thereby reducing the carbon footprints of these vessels.

The reasons for this expansion are clear. Ports and cities around the world are beginning to take the threat of air pollution...

https://mfame.guru/the-future-of-lng-as-a-marine-fuel/

IEA’s Report States The Impact Of Reducing Methane Emissions

Reducing methane emissions from oil and gas operations is among the most cost-effective and impactful actions that governments can take to achieve global climate goals, said the International Energy Agency (IEA) in a new report, says an article published on Safety4Sea.

Methane

Although methane has a much shorter atmospheric lifetime than CO2 – around 12 years, compared with centuries for CO2 – it absorbs much more energy while in the atmosphere, so it is a potent greenhouse gas with important...

https://mfame.guru/ieas-report-states-the-impact-of-reducing-methane-emissions/

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