Tag: IEA

China coal output climbs 2.1% as it becomes leading global backer

China coal output climbs 2.1% as it becomes leading global backer

China’s coal production leapt 2.1% from the year before, hitting its highest level in three years as major miners increase output and new miners begin operations. Data released by the National Bureau of Statistics showed production had hit 320.38 million tonnes of coal in December – its highest volume since […]

Weak sterling supports the FTSE 100

Weak sterling supports the FTSE 100

The FTSE 100 briefly dipped below the 6,800 mark, dragged down by poor performances across the mining sector, but rebounded to 6,822.96 by midday helped by a weakening pound. International benchmark Brent crude was down 0.72pc at $61.01 after China reported weaker economic growth, hinting towards lower fuel demand from […]

Renewable sector concerned over Australia’s green energy push

Renewable sector concerned over Australia’s green energy push

Elon Musk has accepted that Australia must be cautious over its transition to renewables, stating that developers of wind and solar energy farms are not meeting industry standards. The French clean energy company Neoen, which has work alongside Musk’s Tesla on a battery farm in South Australia, has reiterated concerns […]

Venezuela to share economic data with the IMF

Venezuela to share economic data with the IMF

Crisis stricken Venezuela is set to share its economic data with the International Monetary Fund (IMF) for the first time in two years, since its economic problems became severe, in order to avoid penalties that could include the exclusion of the IMF. According to two people with direct knowledge over […]

Global coal demand rises in 2017

Global coal demand rises in 2017

Global coal demand rose in 2017 as developing countries opt for coal as fuel to drive industrialisation. The International Energy Agency’s annual World Energy Outlook published on Tuesday shows that coal will essential for heat and light through to 2040. According to the report, “Many developing economies view coal as […]

US to become key global energy source

US to become key global energy source

A top US energy diplomat has said America will become a significant energy source across the globe, with its innovation in technology and financing that will help boost oil and gas production over the next ten years. Frank Fannon, assistant secretary in the energy bureau of the U.S. state department, […]

Boom of US coal exports to Asia

Boom of US coal exports to Asia

Asia is increasingly turning to US coal to fuel its rapidly growing appetite for the commodity that is the leading source of power in 18 of the US states and contribute almost 30% of all American power. Satellite imagery from last month shows that China is to add 259GW of […]

Russian pipeline to China 93% complete

Russian pipeline to China 93% complete

Gazprom’s Power of Siberia natural gas pipeline that will run from Russia to China is nearly complete, the gas giant stated in its latest update of major projects. A total of 1,249 miles of pipes have been laid so far, the equivalent of 93% of the length of the route, […]