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Fosil Fuels
Speed Up Green Transition to Break From Russian Fossil Fuels, Say 11 EU Countries
Europe must speed up the rollout of renewable energy and energy efficiency measures in response to Russia’s invasion of Ukraine, according to eleven EU countries. The invasion of Ukraine put a spotlight on Europe’s dependency on Russian fossil fuel, particularly gas,…
IEA: Global natural gas demand set to decline slightly in 2022
The world’s demand for natural gas is set to decline slightly in 2022. as a result of higher prices and market disruptions caused by war in Ukraine, according to the International Energy Agency’s latest quarterly update. The expected small contraction in…
Energy Security: Commission Hosts First Meeting of EU Energy Purchase Platform to Secure Supply of Gas, LNG and Hydrogen
In order to secure the EU’s energy supply at affordable prices in the current geopolitical context and to phase out dependency on Russian gas, the European Commission has established with the Member States an EU Platform for the common purchase…
IEA Member Countries Agree to New Emergency Oil Stock Release in Response to Market Turmoil
The International Energy Agency’s 31 Member Countries agreed on Friday to a new release of oil from emergency reserves in response to the market turmoil caused by conflict between Russia and Ukraine, underscoring their strong and unified commitment to stabilizing…
SEEGAS Addresses Vulnerabilities to Gas Disruptions in South-East Europe
Gas stakeholders underlined that coordinated actions and measures were the best response to ensure the stability of the regional gas system following the Russian invasion of Ukraine. The meeting under the South-East European Gas (SEEGAS) initiative proposed concrete measures to…
Oil Market Report Highlights – March 2022
The IEA Oil Market Report (OMR) is one of the world’s most authoritative and timely sources of data, forecasts and analysis on the global oil market – including detailed statistics and commentary on oil supply, demand, inventories, prices and refining…
The Joint Technical Committee Meets to Review Oil Market Conditions
The Joint Technical Committee (JTC) of the Declaration of Cooperation (DoC) held its 60th Meeting today via videoconference to examine the latest developments in the global oil market. The OPEC Secretary General, HE Mohammad Sanusi Barkindo, noted the impact of…