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The Latest Breaking News from IEA

Global economic uncertainty means oil prices -- and your fuel bill -- will continue to surprise this year

Oil prices have confounded expectations in the first quarter of 2023. Brent – a major global benchmark – hit a low of US$72 (£58) a barrel on March 17, while the world’s other main benchmark, WTI, dropped to less than US$66 a barrel. This is a far cry from the…

The Conversation

I’m a Tory MP, but I can’t let ministers trash our net zero pledge with the Rosebank oilfield

It would be able to produce 500m barrels, exceeding our carbon budgets for the oil and gas industry. It will also make the UK poorer, says Chris Skidmore, chair of the Net Zero Review

The Guardian - UK

Johnson Controls CEO: ‘Humanity has 7 years to cut global emissions by half–but we can decarbonize buildings ahead of schedule’

Buildings are responsible for 40% of global emissions–but we know how to decarbonize them profitably, writes Johnson Controls CEO George Oliver.

Fortune

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G7 Coalition to Keep Russian Oil Price Cap at $60

The Group of Seven (G7) coalition will keep a $60 per barrel price cap on seaborne Russian oil, a coalition official said, despite rising global crude prices and calls by some countries for a lower price cap to restrict Moscow's revenues. The G7 and Australia made the decision to maintain…

Asharq Al-Awsat

Oil Steady as Market Awaits China GDP Data

Oil prices were steady on Monday as investors eyed Chinese economic data for signs of demand recovery in the world's second-largest oil consumer. Brent crude futures nudged 7 cents lower to $86.24 a barrel by 0746 GMT, while US West Texas Intermediate crude was at $82.47 a barrel, down 6…

Asharq Al-Awsat

Global oil demand on course for record as China’s economy rebounds

International Energy Agency’s expectation for 2023 is 2m bpd higher than last year’s figure

The Guardian - UK

Lawmaker pushes to scrutinize state program for children in mental health crisis

A WBEZ investigation found the SASS program fails to ensure thousands of children get any follow-up help, let alone the type of intensive behavioral health support many need.

Chicago Sun-Times

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Revealed: UAE plans huge oil and gas expansion as it hosts UN climate summit

Exclusive: UAE’s fossil fuel boss will be the president of Cop28, making a mockery of the summit, say campaigners

The Guardian - UK

U.N. Climate Report Recommends Ending Fossil Fuel Subsidies

One place where environmentalists and libertarians are on the same page

Reason

New oil and gas not consistent with 1.5C

New oil and gas fields are not consistent with 1.5C of warming but the Government has just approved one and opened up applications for more.

Newsroom.co.nz

Crude Closes Moderately Lower on Economic Concerns

May WTI crude oil (CLK23 ) on Friday closed down -0.70 (-1.00%), and May RBOB gasoline (RBJ23 ) closed down -1.23 (-0.48%). Crude oil and gasoline prices Friday closed moderately lower due to ongoing concerns that the banking turmoil could push the global economy into a recession, undercutting energy demand....

Barchart

Crude Prices Firm as the Dollar Falls

May WTI crude oil (CLK23 ) this morning is up +0.62 (+0.87%), and May RBOB gasoline (RBJ23 ) is up +4.90 (+1.91%). April Nymex natural gas (NGJ23 ) is up +0.030 (+1.38%). Crude oil and gasoline prices this morning rose to 1-week highs and are moderately higher. Dollar weakness is...

Barchart

China's Mekong dams turn Thai fishing villages into 'ghost towns'

CHIANG KHONG, Thailand: From February to April each year, Kam Thon spends most of her days knee-deep in the waters of the Mekong River by her village in northern Thailand, gathering river weed to sell and cook at home.

Bangkok Post

Russia’s oil revenue drops sharply in February as sanctions bite: IEA

LONDON: Russia’s oil-export revenue fell to lowest in more than a year in February as buyers of the nation’s barrels largely complied with price caps and sanctions, according to the International Energy Agency.

The Times of India

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The Guardian - UK

CO2 emissions may be starting to plateau, says global energy watchdog

IEA records rise of less than 1% from energy use in 2022, but 7% reduction needed every year this decade to meet emissions goal

Radio France Internationale

Carbon emissions hit record high in 2022 despite jump in renewables

Carbon emissions from energy production around the world hit a new record high last year, but they rose less than expected because of renewables, according to the International Energy Agency.

Salon

Fossil fuel subsidies surge amid war

European Union countries spent big to fight rising costs

Bangkok Post

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.

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The Guardian - UK

Carbon emissions from global SUV fleet outweighs that of most countries

The Independent UK

Sun, wind aplenty, Spain vies to lead EU in green hydrogen

Spain is building on its reputation in renewable energy to position itself as Europe’s future leader in green hydrogen

The Guardian - AU

Methane emissions ‘incredibly cheap’ to cut without needing offsets, safeguard mechanism inquiry told

Hearing into Labor’s changes to the scheme told a 75% reduction in methane was possible using commercially competitive existing technology

Newsroom.co.nz

Grim news for the planet, great news for Channel Infrastructure

If you thought climate change fears might curb our love affair with flying, think again. A new report predicts we – and the stuff we buy and sell – will be flying more than ever

ABC News

How feed additives could cut methane emissions from livestock by 90 per cent

Scientists are developing pills, powders, and pellets to slash livestock methane emissions — one of the biggest environmental challenges facing the meat industry. But will they work in the real world of farming?

The Guardian - AU

Methane from Australian coal and gas could be 60% higher than estimated

Data released by the International Energy Agency leads to renewed calls for more emission cuts and block on new projects

Salon

3% of oil profits could clean up methane

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

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