CATEGORIZED | News

IEA forecasts unrelenting demand for energy

Posted on 17 November 2008

Global demand for natural gas will grow even more quickly than for oil. Its share in total energy demand will rise by 1.8% to 22%, driven mainly by power generation.

However, renewables appear to be the star of the story. According to the IEA, renewables use will overtake gas as the second-largest source of electricity (after coal) soon after 2010. Average rate of growth for these emerging energy sources is 7.2%.

IEA’s forecast is based on an average crude oil import price of $100/bbl in 2007 dollars for 2008-2015, and more than $120 in 2030.

Leave a Reply

*

FEATURED MICROSITES


Recent Drilling News

  • 21 November 2014

    Statoil cancels Stena Carron rig contract offshore Angola

    Statoil has decided to cancel the Stena Carron rig contract after fulfilling the work commitments in the Statoil-operated blocks 38 and 39 in the Kwanza basin offshore Angola...

  • 19 November 2014

    Stepwise approach guides Statoil’s North American onshore path

    When Statoil entered the North American onshore industry in 2008, it was a non-operator in a joint venture (JV) with Chesapeake in one shale play. Since then, Norwegian-based…

  • 18 November 2014

    Stilley: Despite challenging outlook, opportunities are plenty in the long term

    Opportunities abound for the drilling industry even in an environment of high costs and falling oil prices, Randall D. Stilley, President & CEO of Paragon Offshore, said...

  • 18 November 2014

    In well control, an ounce of prevention is worth a pound of cure

    It has been more than four years since Macondo, and the long-term effects of the oil spill are still being determined. “Oil is a natural substance that can be degraded...

  • 18 November 2014

    Plaisance: Well Control Institute evaluating priority topics

    The Well Control Institute (WCI) Board of Directors convened on 11 November in New Orleans. Moe Plaisance, who recently retired from Diamond Offshore Drilling, has...

  • Read more news