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The Latest Breaking News from Fatih Birol

OPEC Lashes Out At IEA's Fossil Fuel Warning As International Climate Summit Looms

OPEC's Secretary General loudly defended continued investments in oil and gas on Monday, just days before the beginning of COP28 in Dubai.

International Business Times

‘It’s like buying an iPhone and not having a cable’: UK’s bid for net zero in the balance due to grid ‘blind spot’

As well as more clean energy, Britain (and the world) needs miles of extra cable to carry it. But a global shortage of components and skills means efforts to meet climate targets will go down to the wire

The Guardian - UK

First Thing: Dutch election results put Geert Wilders’ far-right party in lead

European far-right leaders celebrate success of Wilders’ Party for Freedom, which has won 37 seats. Plus, welcome to the world of gossip surveillance

The Guardian - UK

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Current fossil fuel use makes UN climate targets 'very difficult' to achieve, says IEA

The International Energy Agency warned Tuesday that energy policies must evolve if global warming is to be limited to 1.5 degrees Celsius, saying fossil fuel use is still "far too high".

Radio France Internationale

Sunak faces further pressure over net zero U-turn after IEA warning

Energy watchdog says countries risks fuelling climate crisis and damaging their economies by rowing back on green policies

The Guardian - UK

Gaza has oil markets on edge. That could build more urgency to shift to renewables, IEA head says

Oil prices are up and markets are tense after the outbreak of war in Gaza

The Independent UK

Global shift to clean energy means fossil fuel demand will peak soon, IEA says

Fossil fuel demand will peak and renewable energy will grow rapidly in coming years, according to an International Energy Agency report.

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Saudi crown prince Mohammed bin Salman’s 2030 growth plan bears fruit as Hyundai inks deal to join Lucid as next carmaker in the Gulf

As the IEA predicts global demand for transport fuels will peak in 2026, the Saudi monarchy is in a race to diversify its economy by the end of the decade.

Fortune

Electrical grids aren't keeping up with the green energy push. That could risk climate goals

Stalled spending on electrical grids worldwide is slowing the rollout of renewable energy and could put efforts to limit climate change at risk if millions of miles of power lines aren't added or refurbished in the next few years

The Independent UK

Global electricity grid must be upgraded urgently to hit climate goals, says IEA

Investment needs to double to more than $600bn a year by 2030 after ‘decade of stagnation’, says agency

The Guardian - UK

Policymakers urge Europe to move faster on clean energy transition

International policymakers have warned that Europe must invest more quickly and massively in its energy transition if it wants to remain a global industrial power.

Radio France Internationale

The Guardian view on the Rosebank oilfield: a symbol of Sunak’s cynicism

Editorial: The PM continues to play politics with the climate emergency. The dismal consequences will long outlast his time in office

The Guardian - UK

Rich nations, China must accelerate to improve net zero targets: IEA

Rich and developing nations alike must sharply improve their net-zero targets, the International Energy Agency said Tuesday, warning that a clean energy surge was the main reason the world's climate goals are still within reach.

Radio France Internationale

First Thing: Biden joins stars in hailing ‘deal’ to end Hollywood writers strike

Writers Guild of America says tentative agreement on pay and conditions ‘due to the willingness of this membership to exercise its power’. Plus, how to deal with garlic breath, according to scientists

The Guardian - UK

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The Guardian - UK

‘Staggering’ green growth gives hope for 1.5C, says global energy chief

IEA’s Fatih Birol says uptake of solar power and EVs is in line with net zero goal but rich countries must hasten their broader plans

The Independent UK

Paris Agreement target still alive thanks to clean energy growth, says IEA

Trillions of dollars of investment in clean power is needed this decade to accelerate its growth, the agency has set out in a new report.

The Conversation

EV sales growth points to oil demand peaking by 2030 − so why is the oil industry doubling down on production?

Electric vehicle sales are growing faster than expected around the world, and, sales of gas- and diesel-powered vehicles have been falling. Yet, the U.S. government still forecasts an increasing demand for oil, and the oil industry is doubling down on production plans.

The Guardian - UK

New fossil fuel projects ‘very unwise economic risk’ says global energy chief

Fatih Birol, head of International Energy Agency, says countries planning expansion are ‘misjudging market trends’

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The Guardian - UK

‘Beginning of the end’ of fossil fuel era approaching, says IEA

Forecast downturn still ‘nowhere near steep enough’ to limit temperature rise to 1.5C, says watchdog

The Guardian - UK

International Energy Agency warns of higher bills this winter

Fatih Birol says China’s economic recovery combined with harsh winter could pile pressure on gas supplies

Evening Standard

Warning of fresh winter spike in energy prices as gas costs climb

Ofgem’s next price cap announcement will come in August

Radio France Internationale

Developing countries need €2 trillion for clean energies to meet climate goals- IEA

The International Energy Agency (IEA) has said that financing for clean energy in developing and emerging economies – excluding China – must increase seven-fold within a decade if global warming is to be capped at tolerable levels

The Guardian - UK

Peak in global oil demand ‘in sight before end of decade’

International Energy Agency says demand will grow by 2.4m barrels a day in 2023 to record 102.3m

France 24

Power-thrift: World makes progress in energy efficiency

In the wake of an energy crisis triggered by Russia’s war in Ukraine, the world has become a lot more energy efficient, according to a new study. Are we seeing a permanent, global shift in energy transition? Yuka Royer speaks with Fatih Birol, the head of the International Energy Agency.

StockNews.com

3 Foreign Oil Stocks to Buy for Value

Despite macroeconomic headwinds, strong global oil demand and constrained supply as Saudi signaled more output cuts could likely boost oil prices this year. Amid this, fundamentally strong foreign oil stocks BP (BP), Repsol (REPYY), and Ultrapar (UGP), currently trading at a discount, could be ideal investments. Keep reading….

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