Tag

Fatih Birol

All articles tagged with #fatih birol

energy1 month ago•3 min saved

IEA Chief Warns of Historic Global Energy Risk as Hormuz Blockade Deepens

IEA chief Fatih Birol warns that the world faces its biggest energy-security threat in history due to the ongoing Strait of Hormuz closure and related disruptions, with about 13 million barrels per day of oil and products affected. He urges resilience through a faster shift to nuclear power, renewables, and possibly a coal rebound, and notes Europe could face a jet-fuel shortage; the IEA has released emergency stockpiles but says this is temporary—opening Hormuz remains the ultimate cure.

via CNBC|

#energy #energy-security #fatih-birol

world1 month ago•11 min saved

IEA warns Europe’s jet fuel could run out in six weeks amid Hormuz disruption

The International Energy Agency warns Europe may have only six weeks of jet fuel left as the Strait of Hormuz closure drives oil prices higher, risking early flight cancellations and broader costs for petrol and electricity that could ripple through the global economy.

via Daily Express US|

#europe-energy-crisis #fatih-birol #iea

world1 month ago•18 min saved

IEA Warns War Damage Could Delay Oil, Gas Recovery for Two Years

It could take up to two years to restore a meaningful share of oil and gas production lost to the Iran war, says IEA chief Fatih Birol. The damage across the Persian Gulf and a largely closed Strait of Hormuz have removed hundreds of millions of barrels from the market, with spot crude approaching $150, and reopening shipping won’t quickly revive output—facilities must be repaired and restarted, a process that could take longer than two years for some LNG terminals. The disruption is already dampening demand, with Asia and Africa likely to feel the impact hardest as energy-importing economies grapple with higher prices and inflation.

via Crude Oil Prices Today | OilPrice.com|

#fatih-birol #gas #iea

world2 months ago•3 min saved

IEA Chief Warns Global Energy Crisis Outpaces 1970s Shocks

The IEA chief Fatih Birol says the energy crunch tied to the US-Israel war on Iran is larger than the 1970s oil shocks and the Ukraine gas crisis combined, with significant oil and LNG shortfalls, damage to energy facilities, and potential stockpile releases; the primary fix is unblocking the Strait of Hormuz, while policymakers consider demand-reducing measures.

via Al Jazeera|

#energy-crisis #fatih-birol #iea

energy2 months ago•2 min saved

IEA weighs fresh oil stock releases as Iran conflict tightens markets

The IEA says it is consulting with governments in Asia and Europe on releasing more oil from strategic stockpiles if necessary due to the Iran war, following a record 400 million-barrel drawdown; there is no fixed price trigger, and any additional release would aim to ease market pain rather than solve the crisis. Birol, on a world tour starting in Canberra, warns the Middle East crisis is severe, emphasizes the Strait of Hormuz as central to the energy squeeze, and notes possible demand-saving measures like lower speeds and work-from-home; Australia reports solid diesel stocks at about 30 days.

via Reuters|

#energy #fatih-birol #iea

world2 months ago•3 min saved

IEA Chief Warns Iran Conflict Triggers Global Energy Crisis Rivaling 1970s Shocks

IEA chief Fatih Birol warns that the Iran war, Hormuz Strait closures, and spillover from the Ukraine conflict have created a global energy crisis as severe as the 1970s oil shocks, threatening oil and gas supplies and cascading into petrochemicals and fertilisers. He notes significant damage to Gulf energy assets, the potential for further emergency oil releases, and stresses the need for coordinated, global demand- and supply-side measures rather than national stockpiling.

via The Guardian|

#fatih-birol #hormuz-strait #iea