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The Latest Breaking News from Fatih Birol

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.

WEKU

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

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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

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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

‘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 Guardian - 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 Independent UK

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 Conversation

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’

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

The Guardian - UK

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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.

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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….

The Independent UK

Renewable energy surges, driven by solar boom and high fuel prices, report finds

The world is set to add a record amount of renewable electricity capacity this year as governments and consumers seek to offset high energy prices and take advantage of a boom in solar power

Radio France Internationale

Renewable energy capacity additions to hit record: IEA

Renewable power capacity will grow by a record number this year as high fossil fuel prices and energy security concerns fuelled the deployment of solar and wind systems, the International Energy Agency said Thursday.

Radio France Internationale

World investing more in solar than oil as investment in renewables soars

Global investment in solar power is expected to overtake investment in oil for the first time ever this year, as spending on renewables continues to increase more than spending on fossil fuels, according to the International Energy Agency. And yet, fossil fuel investment is still too high to reach any…

The Guardian - AU

Russia-Ukraine war: Belarus says transfer of nuclear weapons from Russia has begun – as it happened

Comments from Alexander Lukashenko, Belarusian president, come as Russia and Belarus sign new deal for storage of nuclear weapons

The Guardian - UK

Invasion of Ukraine ‘has fuelled funding boom for clean energy’

International Energy Agency says investment will hit $1.7tn this year, well ahead of fossil fuels

The Guardian - UK

Cop28 host UAE’s approach is ‘dangerous’, says UN’s ex-climate chief

Christiana Figueres says focus on carbon capture is direct threat to survival of vulnerable countries

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