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IEA: Oil supplies stable for now, but we're ready to act if needed
- IEA Executive Director Fatih Birol: "The IEA oil security system has over 1.2 billion barrels of emergency stocks"
13.06.2025
Oil
Türkiye rises to 8th in global EV sales market
- Domestic brand Togg, state incentives drive record growth in electric vehicle sector
30.05.2025
Electricity
IEA chief calls for action to prevent monopoly in critical mineral supply
- Fatih Birol warns that concentration of critical minerals in one country poses significant risk to global energy security
25.04.2025
General
Potential Russia-Ukraine peace would boost agriculture, oil prices: Expert economist
- Peace would be ‘good for world,’ though setbacks from Washington may mean problems for US, as stock market ends long trouble-free course under Trump’s 2nd term, says Jim Rogers
25.03.2025
General
Türkiye’s solar capacity doubles, beating 2025 targets: Ember
- "By doubling its solar energy capacity in just two and a half years and surpassing its 2025 target ahead of schedule, Türkiye has demonstrated its potential to set more ambitious goals," says energy expert
28.01.2025
Renewable
Turkish steelmaker to invest nearly $1B in solar energy for ‘green steel’ production
- Tosyali Holding aims to produce around 1.5 GW of solar energy with investments in different cities of Türkiye, in a bid to further reduce carbon emissions, firm’s head says
27.01.2025
General
Solar overtakes coal in EU power sector for 1st time in 2024: Report
- European Green Deal drives profound transformation of EU's power sector, reveals Ember's new report
23.01.2025
Electricity
IEA chief warns of slower clean energy growth in coming few years
-As countries expand their market shares in clean energy, new taxes to protect industries may slow growth, leading to setbacks in sector over next 3-4 years, says Fatih Birol
22.01.2025
General
bp to axe around 4,700 jobs as part of cost-cutting drive
-Oil major also plans to reduce its contractor workforce by additional 3,000 positions
16.01.2025
General
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World Economic Forum: 78M net new jobs to be created worldwide by 2030
- Tech-related, big data, and AI-focused jobs make up fastest-growing positions, while frontline jobs in delivery driving, construction, education, and nursing to keep rising
08.01.2025
General
IEA report projects geothermal energy to meet 15% of global demand growth
- Report estimates $1 trillion in geothermal investment by 2035 and $2.5 trillion by 2050.
13.12.2024
Electricity
Türkiye unveils renewable energy strategy to London investors
- Presidential Investment Office kicks off European tour to attract funding from UK, France, the Netherlands and Germany
26.11.2024
General
European bank reveals Türkiye investment strategy for next 5 years
- EBRD to prioritize green transition, human capital development, private sector competitiveness, infrastructure, and regional integration in Türkiye
12.11.2024
Finance
World faces critical need of $2T in annual climate financing
- Securing agreement on new climate financing target tops COP29 agenda, says OECD spokesperson
12.11.2024
Finance
Trump's victory shifts focus to US climate, trade policies
- Second term under Donald Trump could hinder efforts to fight climate crisis amid trade tensions with China, Europe
World moving at speed into 'Age of Electricity,' says IEA chief
- IEA forecasts low-emissions sources to generate more than half of world's electricity before 2030 while demand for coal, oil and gas still projected to peak by decade's end
16.10.2024
Electricity
New financing model underway for $2T clean energy investment needs, IEA chief says
IEA and COP29 Presidency are working to suggest 3 global pledges on batteries, grids and methane emissions in climate negotiations in November
IEA chief expects talks at COP29 to focus on clean energy finance to developing countries
IEA and COP29 Presidency are holding series of meetings ahead of summit in Baku later this year to create plan on how clean energy finance can be provided to emerging countries, Fatih Birol says
23.05.2024
Renewable
Clean energy to cover world’s additional electricity demand by 2026: Int. Energy Agency
- Renewables surge while nuclear power eyes all-time high next year, according to global energy agency’s latest Electricity 2024 report
24.01.2024
Electricity
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Vessel traffic down 20% in Red Sea due to rerouting
- Ship transits through Cape of Good Hope up by 27% in week of December 25-31
09.01.2024
Oil
Finance gap for climate adaptation at highest level despite accelerating impacts of climate change
- Adaptation finance to developing countries drops to $21 billion in 2021, while funds needed for adaptation range from $215 to $387 billion per year this decade, 18 times larger than current flows
02.11.2023
General
Enercon CEO calls for level playing field in Europe's wind sector for independent supplies
- European wind industry needs original equipment manufacturers to cut reliance on China and secure supply chain independence, Enercon's Jürgen Zeschky says
02.11.2023
Europe
Failure to cut overreliance for critical tech. might be worse than that with Russia in gas, warns Nordex CEO
- China emerges as single source that most countries are dependent for supply chain of clean energy technologies and critical minerals
Clean energy investments in developing countries, excluding China, must increase sevenfold
- Annual clean energy investments in emerging and developing economies need to more than triple to $2.8 trillion by early 2030s, report says
Global renewable capacity to post record growth this year, led by solar
- Renewable power worldwide set to rise to 4,500 gigawatts by end of 2024, equal to total power output of China and US combined
Solar power investment set to overtake oil production spending for first time
- With over $1 trillion expected to be spent on fossil fuels this year, sustainable energy investments, led by solar, are expected to reach $1.7 trillion
UK energy bills to fall in summer as energy regulator cuts price cap
- For first time since global energy crisis began more than 18 months ago, consumer prices are in decline
Green energy can replace Russian gas in EU by 2028 with €811B investment, report finds
- Total €811 billion expenditure includes planned clean energy spending of €299 billion as part of European Green Deal and additional investment of €512 billion
Asset managers invest over $400B in oil, gas despite climate commitments
- 25 members of Net Zero Asset Managers Initiative among largest shareholders of world's 15 biggest listed oil and gas companies
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Gas markets in rebalancing trend after 2 years of crisis, though supply remains relatively tight
- Russia could cut piped gas flow to Europe by 35 billion cubic meters this year, likely to tighten supplies but outlook is "cautiously optimistic"
British Harbour Energy, bp to develop carbon capture and storage project
- Project is estimated to meet one-third of UK's target to capture and store up to 30 million tons of CO2 a year by 2030
Coal phaseout’s pace needs to be sharply accelerated to meet Paris goals: Report
- All existing plants in world's richest countries need to be retired by 2030 and by 2040 elsewhere in world, according to Boom and Bust Coal report
OPEC+ cuts risk increasing oil prices, straining tight oil market, IEA says
- Substantial oil production cuts announced by OPEC+ come during period of heightened uncertainty for global oil markets and economic outlook: Int'l Energy Agency
EU's proposed LNG, gas pipeline projects at odds with climate goals, report says
- Proposed LNG infrastructure could lead to potential increase of 950 million tons of CO2 emissions per year in EU
EU's LNG imports from Russia see highest levels in 3 years
- European Union's LNG imports from Russia last year rise by 31% and 35% compared to 2020 and 2021 volumes, respectively
Clean energy growth limits rise in energy-related CO2 emissions in 2022
- Growth in CO2 emissions would have been nearly three times as high, IEA calculates, warning emissions still on unsustainable growth trajectory
02.03.2023
Renewable
Gas markets remain tight due to China's uncertain LNG demand and further Russian supply cuts
- China's demand growth could spark fierce competition and unsustainable price levels this summer, IEA warns
Gas markets see 'notable firsts' amid energy crisis exacerbated by Russia's war in Ukraine
- Germany opens first LNG terminal, while EU deals with at least tenfold higher gas prices in first year of Russia's war in Ukraine
Methane emissions not falling despite more than enough income in oil, gas industry for cuts
- Fossil fuel producers benefiting from hefty profits amid global energy crisis need to step up quickly along with policy makers, IEA chief urges
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A year into Russia's war in Ukraine: Energy crisis deepens, but renewables emerge stronger
- World set to double renewable capacity in 5 years, with growth volumes expected to be 30% higher than anticipated one year ago
IEA calls on energy sector to provide urgently needed supplies for Türkiye's quake-hit region
- Transformers, portable solar power generators, LPG for rural communities, electric heaters, container homes and Arctic tents are urgently needed, says Birol
Renewables, nuclear to meet almost all growth in global power demand in next 3 years, IEA finds
- World's electricity demand set to accelerate, adding more than double Japan's current power consumption over three years, says IEA chief
Wind, solar power generated record 22.3% of EU’s electricity in 2022, overtaking gas for 1st time
- EU generated 32% of its power from nuclear and hydro sources, followed by wind and solar at 22.3%, fossil gas at 19.9% and coal at 16% in 2022
Russia-Ukraine war to spur clean energy transition as supply security concerns rise, says bp
- In net zero scenario, installed wind, solar capacity grows 15-fold worldwide, reaching 20,225 gigawatts by mid-century, bp estimates in report
Karpowership, Ukraine sign pact to fast-track 500 MW powerships to ease power crisis
- Moldova and Romania ports are most likely docking locations for Karpowership vessels to feed into Ukraine’s power grid, says statement
Russia's seaborne crude oil exports down 9% in 1st month of price cap
- Russia's seaborne crude exports dropped 266,000 barrels a day in December after beginning of price cap and embargo by EU
Global coal use to reach all-time high in 2022 driven by energy crisis: IEA
- Rise in coal use in Europe expected to be temporary with falling demand in advanced economies but remaining robust in Asia in coming years
16.12.2022
Coal
Increasing renewable energy capacity helps to reduce inflation, Turkish study says
- Growth of renewables stands out as one of key strategies in fighting inflation, economists point
Gas storage withdrawals accelerate in EU, UK as cold spell drives up heating demand
- High storage levels are critical in Europe to pass winter without major gas shortage and power blackouts amid ongoing energy crisis
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EU needs stronger action to fill potential gap of 30 billion cubic meters of gas in 2023, IEA says
- Despite progress on reducing reliance on Russian gas, EU is not out of danger zone yet, IEA chief cautions
Russia's crude exports to India up 14-fold, while exports to China double
- Russia focuses on other markets, like India and China, with fall in European buyers due to sanctions
Turkish Karpowership in talks for power supply to Ukraine via Moldova and Romania
- Powerships could be deployed in different ports in Moldova and Romania to send electricity to Ukraine via transmission lines, senior company official says
Supply concerns, lower costs drive unprecedented renewables growth
- Supply security and economics are now more important than climate change in driving extraordinary renewables growth over next five years: IEA Chief
Türkiye sees record applications for solar and wind-based storage projects
- Applications for storage projects in solar and wind power correspond to 19,881 and 47,468 megawatts, respectively
World's biggest 14 emitters are all oil and gas fields, most located in US and Russia
- Among 14 largest emitters, US has five and Russia four oil and gas fields with remainder in Iran, China, Algeria, Iraq and Saudi Arabia
Germany's climate envoy eyes "more solidarity" with most vulnerable countries
- "We are involved in doing an update report to this delivery plan of $100 billion climate finance," Germany's special climate envoy says
Greenhouse gas emissions from oil, gas sector are as much as 3 times higher than reported
- Half of top 50 emissions sources are from oil and gas production fields and associated facilities, but these emissions are significantly underreported
Early Warnings for All Action Plan against extreme weather unveiled at UN climate summit
- Plan developed to protect everyone on Earth from increasing natural disasters, with a focus on the most vulnerable
Financing to turn climate adaptation plans into action 10 times below estimated needs
- Annual adaptation needs are estimated to be $160-340 billion a year by 2030 and $315-565 billion a year by 2050, a new UN report finds
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EBRD likely to finance €1.5B in Türkiye this year, eyes more renewable projects
- Bank's fresh commitments in Turkey this year total €1.1 billion and are projected to rise as more projects come online over remainder of year, says bank official
03.11.2022
Finance
Fossil fuel subsidies at least 4 times more than committed $100 billion to developing countries
- Fossil fuels are too dangerous and volatile to depend on as seen in current energy crisis with growing impacts on health
Türkiye prepares to realize long-standing aim to operate as gas hub
- Türkiye is using advantage of strong gas infrastructure with increasing capacity of LNG and underground gas storages
Spot market natural gas prices for Thursday, Oct. 27
- 1,000 cubic meters of natural gas on spot market costs 23,999 Turkish liras
28.10.2022
Natural Gas
Spot market electricity prices for Saturday, Oct. 29
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 792.03 million Turkish liras
Türkiye's daily power consumption up 0.6% on Oct. 27
- Electricity exports amount to 7,365 megawatt-hours and imports total 27,676 megawatt-hours
28.10.2022
Electricity
UN says still 'no credible pathway to 1.5°C in place' with inadequate progress on climate action
- Nationally determined contributions submitted since COP26 summit take only 0.5 gigatons of CO2 equivalent greenhouse gas emissions, less than 1%, off projected global emissions in 2030
27.10.2022
International Organization
Current plans to cut emissions risk 2.5°C warming rise, far from targets
- UN report shows current commitments will increase emissions by 10.6% by 2030 compared to 2010 levels
Sustainable investments grow despite challenges in global economy
- Investments in sustainable projects peak at $1.7 trillion last year from $33 billion level in 2012, EBRD director says
Fossil fuel overreliance puts health of current, future generations in jeopardy
- Global fossil fuel addiction places additional strain on healthcare systems already dealing with other crises ranging from COVID-19 to food insecurity and energy poverty
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Global CO2 emissions from energy set to defy expectations with less than 1% growth in 2022
- After worsening in 2021, record deployment of renewables and electric vehicles help improve CO2 intensity of world's energy supply
Türkiye expects record solar power capacity growth in 2022
- With record growth, Turkey's installed solar power capacity could reach 10 GW by the year end
Record rise in EU's wind and solar generation avoids €11B in gas costs
- Wind and solar account for 24% of EU electricity between March and September, according to an E3G and Ember study
Spot market electricity prices for Sunday, Oct. 16
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 630.1 millioin Turkish liras
15.10.2022
Electricity
Türkiye's daily power consumption down 1.35% on Oct. 14
- Electricity exports amount to 9,734 megawatt-hours and imports total 29,125 megawatt-hours
Türkiye's Karpowership in talks with European countries to supply 2 GW floating power plants
- If discussions reach conclusion with European countries, this will be first time for Karpowership to provide floating power plants to Europe
UK opens new oil and gas licensing round for 898 blocks in North Sea
- First licenses will be awarded from second quarter of 2023 and four priority areas will be sought to license ahead of others
UK warns of possible 3-hour power cuts during winter
- Some customers could be without power for pre-defined hours, UK's electricity system operator warns
07.10.2022
Electricity
Türkiye's gas imports down 15.7% in July 2022
- Natural gas volume in storage increases by 20.6% to around 3.37 bcm in July 2022
Renewables meet 100% increase in global power demand, halt rise in coal and gas
- Global power demand grows by 389 terawatt-hours in first half of 2022 while electricity generation from wind, solar and hydro up by 416 terawatt-hours
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Spot market electricity prices for Wednesday, Oct. 5
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 1.84 billion Turkish liras
Spot market natural gas prices for Monday, Oct. 3
- 1,000 cubic meters of natural gas on spot market costs 26,100.12 Turkish liras
04.10.2022
Natural Gas
Türkiye's daily power consumption up 11.8% on Oct. 3
- Electricity exports amount to 7,250 megawatt-hours and imports total 7,446 megawatt-hours
Wind and solar could halve Türkiye's foreign dependency in power generation by 2030
- Solar and wind's share in electricity generation, which stood at 13.6% in 2021, could reach 34-38% by 2030 with increased capacity
Gazprom confirms pressure has stabilized and leaks stopped at Nord Stream pipelines
- Pressure in both lines of Nord Stream 1 and line A of Nord Stream 2 returns to normal levels
03.10.2022
Natural Gas
IEA warns of gas market tightness in 2023 as Russia further reduces supplies to Europe
- Global gas demand is forecast to drop by 0.8% this year and grow 0.4% in 2023 due to high prices and lower supplies
Spot market natural gas prices for Saturday Sept. 24
- 1,000 cubic meters of natural gas on spot market costs 26,174.11 Turkish liras
25.09.2022
Natural Gas
Spot market electricity prices for Monday, Sept. 26
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 1.83 billion Turkish liras
Türkiye's daily power consumption down 4.5% on Sept. 24
- Electricity exports amount to 9,762 megawatt-hours and imports total 21,060 megawatt-hours
Power market prices see historic highs with mounting energy crisis
- Power market price increases reach 537% in France, 466.7% in Germany, 450% in Türkiye and 246.6% in UK in one year
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Net zero under risk of delays by decades due to international 'collaboration gap'
- Breakthrough Agenda Report sets out 25 urgent recommendations to make more clean technologies most affordable options in five key sectors
20.09.2022
Renewable
Spot market electricity prices for Tuesday, Sept. 20
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 1.99 billion Turkish liras
19.09.2022
Electricity
Spot market natural gas prices for Sunday, Sept. 18
- 1,000 cubic meters of natural gas on spot market costs 26,297 Turkish liras
Türkiye's daily power consumption down 10% on Sept. 18
- Electricity exports amount to 10,724 megawatt-hours and imports total 28,633 megawatt-hours
19.09.2022
Electricity
Finance is biggest challenge to Ukraine as country struggles to secure gas supplies ahead of winter
- Despite falling demand during war, Ukraine currently needs about 2 billion cubic meters of gas in a month to fill storage at targeted level
16.09.2022
Natural Gas
Spot market electricity prices for Friday, Sept. 16
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 2.04 billion Turkish liras
Spot market natural gas prices for Wednesday, Sept. 14
- 1,000 cubic meters of natural gas on spot market costs 26,297 Turkish liras
Türkiye's daily power consumption down 1.1% on Sept. 14
- Electricity exports amount to 9,126 megawatt-hours and imports total 20,383 megawatt-hours
Transition to decarbonized energy system could save at least $12T by 2050
- Clean energy technology costs could become cheaper with accelerated transition, a new study finds
14.09.2022
Renewable
High lithium prices, potential supply disruptions could slow down EV growth
- Price of lithium increases 355% in one year due to high demand from EV sector
13.09.2022
Electricity
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