Wednesday, November 19, 2008

Focus on energy


World Energy Outlook released November 12 in London by International Energy Agency (IEA) is recommending that, to compensate the decline of existing oil fields by 2030, the world would need to find new production equivalent to 45 million barrels per day to maintain present levels of supply. IEA, based in Paris, is the energy advisor to the Organisation for Economic Co-operation and Development (OECD). OPEC, through the voice of its secretary-general, Abdullah al-Badri, dismissed the study, saying shortly that IEA is not "equipped" to revise the current oilfields.
The European Commission proposed November 13 an energy package aiming to give a boost to energy security in Europe, while respecting the policies regarding the climate change. The package is expected to be agreed to the December European Council, at the end of the French-EU presidency.

No comments: