energy Russia energy china flag

World Energy Outlook

16 November 2014, The Hindu BusinessLine

Speaking to BusinessLine from London after release of IEA’s World Energy Outlook 2014, Chief Economist of Paris-based International Energy Agency (IEA) Fatih Birol said, “Softening of oil prices is good news for import-dependent countries like India. But, this comfort zone may not last forever. There will be downward pressures on investments (upstream) even as demand for oil increases. This may result in prices rising again.”

16 November 2014, The Moscow Times

"Sanctions plus current price levels may mean that financing of new projects may be a bigger challenge than previously anticipated," the IEA's chief economist Fatih Birol said last week as he presented the agency's World Energy Outlook 2014. In the long-run, both IEA and OPEC expect oil prices to climb back to around $100 per barrel but predict that this may not happen until well into 2015 and are doubtful the previous records of over $110 per barrel are likely to be achieved soon.

15 November 2014, Saudi Gazette

THE guru is back with a master stroke. The analysis compiled and presented by Fatih Birol in the World Energy Outlook 2014, the flagship publication of International Energy Agency, is as usual, making screaming headlines - all around. Year, after year, he has been forewarning of the evolving undercurrents impacting the global energy world and his words are taken seriously - all around.

14 November 2014, Global Construction Review

The global decommissioning bill for the nuclear reactors that will be closed between now and 2040 will exceed $100bn, according to the latest annual report from the International Energy Agency (IEA). The IEA estimates that a total of 200 reactors, about 38% of all those now in operation, will be shut down over the next 25 years. About 44% of these are in the EU, 16% in the US and 12% in Japan. Because governments and their atomic energy agencies have so little experience of decommissioning, the IEA says there is a danger that they may underestimate the scale of the costs. In the past 40 years, only 10 reactors have been closed down and dismantled.

14 November 2014, Market Watch

A rout in oil prices is likely to continue into the first half of 2015 unless global output is reduced, the International Energy Agency said Friday. Crude prices have fallen around 30% since June to hover near four-year lows amid sluggish demand growth and a surplus of oil supply as a result of booming production in North America. Though the IEA expects demand growth to pick up throughout next year after falling to its weakest level in five years in 2014, it forecasts demand will fall steeply at the start of 2015 compared to the end of this year. Meanwhile, robust oil supply shows no sign of abating.

14 November 2014, EurActiv

The International Energy Agency (IEA) has released its annual publication, in which it expresses its concern at the trend in hydrocarbon consumption, which continues to rise in response to the increasing demand for electricity. The planet's electrical demand could grow by 40% by 2040, but despite falling oil prices, supplies of coal, oil and gas are not indefinite. The continued use of hydrocarbons is speeding up global warming: the IEA predicts that average temperatures will rise by 3.6°C if we do not reduce the current rate of greenhouse gas emissions.

13 November 2014, NHK

IEA released its outlook in which about 200 reactors are retired in the world by 2040, whose total decommissioning cost is estimated to top 11 trillion yen. IEA, comprised of the world major energy consumers, released its global energy outlook up to 2040 on 12 November. It tells that, out of 434 operative worldwide as of the end of 2013, about 200 reactors end their respective license period and are retired by 2040. Such reactors are mostly concentrated in Europe, the U.S., Russia and Japan. The decommission cost is estimated to be $100 billion (more than 11 trillion yen) and the IEA calls for utilities and regulators to ensure they continue to put aside adequate funds for that.

13 November 2014, Die Welt

Fracking Boom hides risks. The Energy Agency predicts an increasing oil demand in the world.

12 November 2014, Bilan

Nuclear generation capacity will increase significantly in the world by 2040, mainly in China, but the atom will lose ground in the total electricity generation, said Wednesday the International Energy Agency. Nuclear power capacity will jump by 60%, from 392 gigawatts in 2013 to more than 620 GW in 2040, according to the central scenario of the annual prospective study of the energy arm of developed countries.

12 November 2014, La Libre

Policies in place to reduce CO2 emissions are insufficient to limit global warming to 2 degrees, warned Wednesday the International Energy Agency (IEA), which confirms its forecast of a temperature increase in the long-term of 3.6 degrees and calls for urgent action. Despite the willingness of most countries to reduce their CO2 emissions and the observed reduction of the share of fossil fuels in energy consumption, the "central scenario" established by the IEA in its annual large prospective study says emissions from energy will increase by 20% by 2040. Coal, the most polluting fossil fuel, should know its last years of growth, the climate challenge pushing countries not to exploit all available resources.