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The Latest Breaking News from Fatih Birol

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….

StockNews.com

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

The Independent UK

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

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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…

Radio France Internationale

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 - AU

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

The Guardian - UK

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International Energy Agency Predicts 14 Million EV Sales In 2023

Sales of Teslas and other EVs are increasing rapidly across the globe, last year representing over 10 million units sold globally. A jump is expected this year.

InsideEVs

OPEC: We Do Not Target Oil Prices, IEA Should be 'Very Careful'

The International Energy Agency (IEA) should be "very careful" about discouraging investment in the oil industry, which was vital for global economic growth, announced OPEC Secretary General Haitham al-Ghais. Ghais warned that such statements could lead to oil market volatility in the future. He said that the Organization of the…

Asharq Al-Awsat

Saudi Aramco Hikes Official Selling Prices of Arab Crude

Saudi Aramco has increased Official Selling Prices (OSPs) for April-loading crude to Asia, Europe, and America largely in line with expectations of oil demand recovery during the second quarter of 2023. For Aramco's key customer base in Asia, differentials for the flagship Arab Light grade were lifted to Platts Dubai/DME…

Asharq Al-Awsat

Russian oil and gas revenue falls nearly 40%

STOCKHOLM: Russia’s revenues from oil and gas exports dropped by nearly 40% in January as price caps and Western sanctions squeezed the proceeds from Moscow’s most lucrative export, the International Energy Agency (IEA) said on Tuesday.

Bangkok Post

3% of oil profits could clean up methane

"There is just no excuse" for the rise in methane emissions last year, IEA director says

Salon

Energy agency chief: "No excuse" for high methane emissions

The International Energy Agency on Tuesday accused fossil fuel industries of doing too little to curb methane emissions and undermining global climate goals to limit warming

The Independent UK

Electricity supplier EDF loses €18 billion, worst result in company's history

The national electricity generator EDF has reported one of the worst years in French corporate history, losing €18 billion and seeing debt rise to an unprecedented €65 billion in 2022. The impact of the Ukraine war and idling nuclear reactors spelt financial disaster for the state-controlled entity.

Radio France Internationale

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Fortune

Renewables and nuclear can handle almost all new electricity demand in the next few years

The clean energy transition is well underway, but some big outliers remain.

The Guardian - UK

‘Ridiculous’: Greta Thunberg blasts decision to let UAE oil boss chair climate talks

Climate activist at Davos says lobbyists have been influencing conferences ‘since forever’

Reuters

Davos 2023: Greta Thunberg to meet IEA chief Birol

Greta Thunberg is set to meet International Energy Agency (IEA) executive director Fatih Birol in Davos on Thursday, organisers of a fringe round-table event at the World Economic Forum's (WEF) annual meeting told Reuters.

Reuters

Davos 2023: EU to counter U.S. climate game changer with own green deal

The European Union responded on Tuesday to U.S. moves to boost its energy transition with its own plans to make life easier for green industry, saying it would mobilize state aid and a sovereignty fund to keep firms from moving to the United States.

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The Independent UK

Europe shifts focus to avoiding energy shortage next year

The heads of the International Energy Agency and European Union’s executive branch say the 27-nation bloc is expected to weather an energy crisis this winter

The Guardian - UK

Giving up on 1.5C climate target would be gift to carbon boosters, says IEA head

Exclusive: Fatih Birol says claims that limit is dead are ‘factually incorrect and politically very wrong’

The Independent UK

IEA chief sees energy crunch for Europe next winter

The head of the International Energy Agency says Europe should be able to cope with the natural gas supply crunch in the coming months thanks to considerable reserves but warned that the continent could face a bigger energy crisis next winter

The Guardian - UK

Cop27: crucial climate talks more fragile than ever after year of turmoil

With war in Ukraine and a cost of living crisis, the global picture is much changed since last year’s conference

The Guardian - AU

Conservatives insist policies to cut emissions drive up power bills. There’s net zero evidence for that

The International Energy Agency has laid to rest the persistent myth that net zero policies are responsible for soaring energy prices

WEKU

An influential energy group sees reason for climate optimism

For the first time, the International Energy Agency projects that demand for fossil fuels will soon peak. It's nowhere close to the speed the world needs to stop climate change - but it's a big step.

The Guardian - UK

First Thing: Climate crisis funds ‘not delivered’ to countries in grave need

With famine in Somalia almost inevitable, $100bn a year pledge criticised. Plus, China is locking down parts of Wuhan again

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