said that Russian support for the merger of Rosneft, a state-owned oil company, and Gazprom "lends credence to the view that the Russian government is interested in clawing back interest and control in the oil sector".
According to IEA
, the report, which assesses regional similarities and differences as well as the cost and benefits of the various biofuel options and technologies, indicates that recent policy initiatives could potentially result in "up to a five percent displacement of motor gasoline use with biofuel (mainly ethanol) worldwide by 2010."
According to IEA
, the report, which "looks at developments sector-by-sector in detail and provides energy policymakers with data and insights that will help them find ways to use energy efficiency and lower-carbon fuels to achieve a more sustainable future," reveals that oil consumption in IEA
countries has declined in all sectors except transport.
Decisions concerning which data would be collected were made by IEA
committees in which experts had to reach consensus.
The messages from various parties that vessels will be protected to the greatest extent possible, and the IEA
's recent statement that it is closely monitoring the oil security position in the Strait of Hormuz will have provided some reassurance, it added.
Global energy consumption rose at its fastest pace this decade, with natural gas accounting for 45% of the increase," IEA
Executive Director Fatih Birol said in the agency's annual natural gas report.
said in a statement this happened amid a drive to meet soaring demand for electricity using renewable energy platforms as well as nuclear power.
The United States is set to drive global oil supply growth over the next five years, adding another 4 million barrels per day (bpd) to the country's already booming output, the IEA
During CERAWeek 2019, the International Energy Agency (IEA
) tried hard to capitalize on such an event to inject bearishness into the market when it appeared as a dedicated sales agency to the US shale oil producers.
said that compliance with the so-called Vienna Agreement was 86 per cent by Opec states, with Saudi Arabia, UAE and Kuwait cutting by more than promised.
Global oil supply fell by 950,000 barrels per day (b/d) in December, led by lower OPEC output ahead of new supply cuts, IEA
said in its Oil Market Report.