New Delhi, April 16 (IANS) International Energy Agency chief Fatih Birol on Thursday warned that air travel in Europe would be hit due to a shortage of jet fuel if the Strait of Hormuz remains closed, as stocks were already running low. Europe may have “only maybe 6 weeks or so of jet fuel left”, and there could soon be flight cancellations if supplies remained blocked, Birol told the Associated Press.Stocks would reach a tipping point in June if Europe was unable to replace at least half of its…
Latest Fatih Birol News & Updates
New Delhi, March 23 (IANS) The International Energy Agency (IEA) chief Fatih Birol has warned that the global economy is facing a major threat due to the energy turmoil due to the escalating Middle East tensions.The IEA chief said the current situation in West Asia poses serious risks to economies worldwide.The global economy is facing a major, major threat today, and I very much hope that this issue will be resolved as soon as possible, Birol said while speaking at a media event in Australia. T…
New Delhi, March 20 (IANS) As the West Asia crisis escalates, the International Energy Agency (IEA) on Friday set out a range of demand-side actions — including work from home and avoiding air travel — for governments, businesses and households to alleviate the economic impacts on consumers.Among the immediate actions to reduce demand is work from home where possible — displacing oil use from commuting, particularly where jobs are suitable for remote work.Where possible, switch to other mo…
New Delhi, March 11 (IANS) In a significant development amid the ongoing West Asia crisis, the International Energy Agency (IEA) on Wednesday announced the release of 400 million barrels of oil from the emergency reserves of 32 member countries to address disruptions in oil markets.The emergency stocks will be made available to the market over a timeframe that is appropriate to the national circumstances of each member country and will be supplemented by additional emergency measures by some cou…
Luxembourg City, Jan 6 (IANS) External Affairs Minister (EAM) S Jaishankar called on Luxembourg Prime Minister Luc Frieden on Tuesday, conveying warm greetings of Prime Minister Narendra Modi and discussing growing cooperation in financial services, investments, technology and innovation between both nations. “Pleased to meet Prime Minister Luc Frieden of Luxembourg this morning. Conveyed warm greetings of PM Narendra Modi. Discussed our growing cooperation in financial services, investments, te…