Oil and Gas News from OilGasDaily.Com
OIL AND GAS
IEA chief says China oil demand key factor in energy transition
IEA chief says China oil demand key factor in energy transition
By Nathalie ALONSO
Paris (AFP) Oct 24, 2023

The International Energy Agency executive director underlined Tuesday the importance of Chinese demand for oil in the move to cleaner energy, as its economy undergoes significant change.

Oil cartel OPEC has predicted that global demand for oil is unlikely to peak before 2045 but IEA chief Fatih Birol, speaking on the day the agency unveiled its annual report, sees ground for optimism on beating that date.

"I have no doubt the OPEC colleagues are looking at the global oil markets for objective perspectives from their point of view, but our data show that global oil demand will peak before 2030, driven by what's happening in clean energy technos, especially in the transportation sector and also economic shifts," Birol told reporters.

He added that the Chinese economy "is changing significantly, and China was in the last 10 years by far the single most important driver of global oil consumption growth.

"If the Chinese economy slows down and changes its structure, its demand for oil will go down and we know that China today produces more than half of electric cars around the world.

"So our expectation for global oil demand, looking at the clean energy and economic prospects, is different than those of our colleagues in OPEC's secretariat -- but we are always happy to discuss and compare notes."

Regarding the current wider oil context amid heightened tensions in the Middle East, Birol said he could not predict "how the political situation will evolve there" in a region from where around one third of global oil exports come.

Related Links
All About Oil and Gas News at OilGasDaily.com

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
OIL AND GAS
Sweden battles oil spill after ferry runs aground
Stockholm (AFP) Oct 23, 2023
Sweden's coastguard said Monday it was working to clean up a large oil spill in the Baltic Sea after a passenger ferry ran aground over the weekend. "We know that the spill currently stretches over five kilometres (three miles) out at sea," Erik Svensson, who was coordinating the clean-up operation, said in a statement. The coastguard said it was working to clean up the oil spill and launching a criminal investigation to determine the cause of the accident and subsequent leak. The Marco Polo ... read more

OIL AND GAS
Cow manure to synthetic gas: How can we optimize the process?

Lightning strike hits UK biogas facility

Aston University research pioneers making renewable hydrogen and propane fuel gases from glycerol

Is there more to palm oil than deforestation?

OIL AND GAS
HUD to fund $100M clean energy renovations for 1,500 low-income homes

Pivotal breakthrough in adapting perovskite solar cells for renewable energy

Joe Biden expected to tout clean-energy jobs in D.C. 'Bidenomics' speech

World may have crossed solar power 'tipping point'

OIL AND GAS
NREL analysis identifies drivers of offshore wind development

Floating offshore wind could bring billions in value to the west coast, report shows

Samis block Norway govt offices over illegal wind farms

Greta Thunberg protests illegal wind turbines in Norway

OIL AND GAS
Bulgaria to get two US-built nuclear reactors

Electrons are quick-change artists in molten salts, chemists show

France insists on nuclear for 'green' hydrogen

Russia signals interest in building Mali nuclear power

OIL AND GAS
Climate 'loss and damage' talks end in failure

UK police charge Greta Thunberg after climate protest arrest

Around the globe, climate adaptation lacks coordination

At IMF-World Bank talks, small steps in climate finance

OIL AND GAS
Japan's Mitsubishi Motors to end production in China

Stellantis to buy stake in Chinese EV start-up Leapmotor

Japan auto show returns, playing catchup on EVs

Honda, GM scrap 'affordable' EV tie-up

OIL AND GAS
US troops targeted Iraq in rocket attacks escape unharmed

Iraq airfield hit by Turkey hosts regular forces: Kurd official

Iraq sentences IS member to death over pilgrim bombing

18 Iraq police get jail terms over Sweden embassy fire

OIL AND GAS
US soldier charged with desertion after N. Korea release

China says nuclear weapons only intended for 'self-defence'

Russia's Lavrov meets North Korea's Kim, slams 'dangerous' US policy

China slams 'illegal' US sanctions on firms linked to Iran's missile, drone programmes

Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.