International Energy Agency


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International Energy Agency

Also called the IEA. An international organization under the OECD that promotes energy security, economic development and environmental protection among member states. It was established to prevent or at least reduce energy crises caused by disruptions in the oil market. As such, it requires member states to maintain oil reserves containing at least 90 days' worth of the previous year's net import of oil. The IEA also provides energy advisory services to both members and non-members. It was established in 1974 and is based in Paris.
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LONDON: The world will use more fuel in the fourth quarter of 2009, marking the first time global oil demand has risen since the second quarter of 2008, the International Energy Agency (IEA) said Thursday.
72 million barrels a day last month, implying compliance of 55 per cent, the Paris-based International Energy Agency said yesterday in its monthly report.
Iranian oil minister Gholam Hossein Nozari, head of China`s National Development and Reform Commission, OPEC Secretary General, executive director of the International Energy Agency and Secretary General of the International Energy Assembly are among the main lecturers of the event.
The International Energy Agency said Friday it has decided to release 2 million barrels of oil per day from strategic reserves in the wake of Hurricane Katrina which ripped through U.
It was sponsored by the International Energy Agency, and includes experiments from Canada, Japan and the United States.
CCS is also the subject of ExxonMobil-supported research at the International Energy Agency Greenhouse Gas R&D Programme, Massachusetts Institute of Technology and the University of Texas.
LONDON: The International Energy Agency (IEA) may reduce its world oil demand forecast for 2012 this week due to a weaker outlook for the world economy, even though some evidence points to stronger consumption in the latter part of the year.
The Minister of Petroleum and Mineral Resources also met here today with Chief Executive of the International Energy Agency Van der Hoeven and talked with her about the oil market situation, cooperation between the Kingdom and the International Energy Agency, the importance of exchanging visits between officials of both sides, cooperation between the exporting countries and oil consuming countries and the kingdom's goal of stabilizing the international petroleum market.
The event will feature speeches from UAE Minister of Energy; ENOC Group Chief Executive; Saudi Aramco from Saudi Arabia; Deputy Executive Director of International Energy Agency from France; Pierre Barbe, President, Trading & Shipping, TOTAL; as well as Chief Executive Officers and top executives from several international and regional oil companies.
Global oil consumption will continue to increase: according to estimates by the International Energy Agency (IEA) from 87 million barrels per day in 2010 to 99 million barrels per day in 2035.
A new multi-agency study, led by the World Bank and the International Energy Agency, will also be presented at the Forum.

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