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…
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New Delhi, March 9 (IANS) Finance ministers from the Group of Seven (G7) will discuss a possible coordinated release of emergency petroleum reserves during a call on Monday as oil prices surge following the conflict in the Gulf, a report has said.The ministers are expected to hold the emergency discussion at 8:30 am New York time (around 7 pm local time) alongside Fatih Birol, executive director of the International Energy Agency (IEA), according to people familiar with the matter, the Financial…
New Delhi, Jan 22 (IANS) Rapidly declining costs of electrotech like solar panels and batteries have unlocked a new energy path for countries like India that did not exist a decade ago when China was expanding its power sector.In 2004, when China crossed 1,500 kWh of electricity use per capita, coal generation was about ten times cheaper than nascent solar photovoltaics (PV). This led to coal accounting for nearly 70 per cent of the growth in China’s electricity generation over a decade.In con…