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🔥 IEA is repeated, “There is no need for new oil and gas” if global warming is limited to 1.5 ° C News | Environmental works
explained
Left: Global gas output by type, billion cubic meters (BCM). Right: The average annual change. Credit: IEA.
The shift towards unconventional resources, such as oil and shale gas, means that production of current fields will decrease sharply without continuous investments.
In fact, the IEA report shows that this is already the case, with the global “decline rates” of both oil and gas become more slope – and the direction that is accelerated – as shown in the figure below, for gas only.
Left: historical global gas production, BCM, (light blue) and decrease rates if there is no other investment as of 1980, 1990, etc. Right: The average annual production loss without any other investment, by a contract. Credit: IEA.
The IEA report shows that the result of the decrease in the speed of decline rates is that the oil and gas industry already needs “rapidly running to stand”.
It indicates that approximately 90 percent of the annual source investment in the sector since 2019 “is devoted to compensation for production declines instead of meeting demand growth.”
The industry needs to invest about $ 500 billion annually, only to maintain current production.
Although investment reaches $ 570 billion in 2025, IEA notes that this is sufficient to maintain “modest” production growth, but only “a small decrease” away from flat or declining production.
IEA also notes that around the world, on average, there is a delay for approximately 20 years of issuing oil and gas exploration licenses, until additional production begins to flow. Explain:
“This includes five years on average to discover this field, eight years for evaluation and approval for development, and six years to build the necessary infrastructure and start production.”
(In a The last speech He pledged to increase the extraction of oil and gas from the North Sea, if elected, UK opposition leader Kimen Badnosh spoke about the need for new licenses.)
You need a new investment?
The IEA report continues to show that without continuing to invest in conservation of production, global oil and gas production will decrease, as shown in the figure below.
Global Oil (MB/D, Left) and gas production (BCM, right) if investment stops on the source. Credit: IEA.
the Financial times The IEA report shows the “costly battle” facing the oil and gas sector if it wants to maintain current production.
However, the newspaper added that the sector will likely welcome the results:
“IEA results are likely to be enthusiastic by the oil industry, which has constantly maintained that they need to spend it significantly to maintain current production levels.”
Fishing is that the report also shows the effects of low demand, in a world that limits warming to less than 1.5 ° C above pre -industry levels.
In the “NZE scenario” that is compatible with 1.5 ° C, IEA says that “a significant acceleration in the pace of energy transitions for current trends will witness a significant decrease in demand for oil and gas.
He adds that if this happens in the request, there will be no investment in the production of new oil and gas, as shown in the figure below. Specifically, the IEA report says:
“The frequency of reducing demand in the Nze (1.5 ° C) scenario is fast enough, in the total, you will not need to agree to long long traditional projects for the long time to develop.”
(IEA says that even in this “NZE scenario” that is compatible with 1.5 ° C, there is still a need for some investment in “current and approval” projects, to balance the decline prices.)
Global oil and gas production in 2024 (gray tape) and in the future without investment (light blue) and investment in current and approved projects (dark blue). The request appears according to the “NZE scenario” that is compatible with 1.5C by green circles. Credit: IEA.
The new report, and therefore, repeat the IEA’s The previous result A new oil and gas investment will not be needed if the world has reached 1.5 ° C.
However, it puts the focus more firmly on the need for a decrease in demand, in order to eliminate the need for a new investment, in contrast to the way this conclusion was reported widely.
In its coverage to discover 2021, for example, Guardian I mentioned that the development of oil and gas “must stop … if the world will remain within safe borders.”
On the contrary, the new IEA report says that investing in the development of the new oil and gas will be necessary to meet the demand, unless the demand is significantly reduced in line with a 1.5 ° C.
In addition to making this point firm, the IEA report notes that a group of high-cost oil and gas projects in the world will need an early closure-as the assets are cut off-if the demand for fuel decreases in line with a 1.5 ° C. She says:
“(T) o Ensuring a smooth balance between supply and demand, the decrease in demand in the Nze scenario will lead to the early closure of many higher cost projects before they reach the end of their artistic life. In 2050, for example, about 8MB/D of oil production and 250BCM will be retired from gas production earlier, indicating noticeable registration rates.”
This story was published with permission from Carbon summary.
📌 Read more at: Full Article
Explore more: #IEA #repeated #oil #gas #global #warming #limited #News #Environmental #works
Authored by on 2025-09-17 11:08:00
Via Eco-Business: News, Opinion, Jobs, Events, Press Releases and Research for topic Energy
🌟 IEA is repeated, “There is no need for new oil and gas” if global warming is limited to 1.5 ° C News | Environmental works
uncovered
Left: Global gas output by type, billion cubic meters (BCM). Right: The average annual change. Credit: IEA.
The shift towards unconventional resources, such as oil and shale gas, means that production of current fields will decrease sharply without continuous investments.
In fact, the IEA report shows that this is already the case, with the global “decline rates” of both oil and gas become more slope – and the direction that is accelerated – as shown in the figure below, for gas only.
Left: historical global gas production, BCM, (light blue) and decrease rates if there is no other investment as of 1980, 1990, etc. Right: The average annual production loss without any other investment, by a contract. Credit: IEA.
The IEA report shows that the result of the decrease in the speed of decline rates is that the oil and gas industry already needs “rapidly running to stand”.
It indicates that approximately 90 percent of the annual source investment in the sector since 2019 “is devoted to compensation for production declines instead of meeting demand growth.”
The industry needs to invest about $ 500 billion annually, only to maintain current production.
Although investment reaches $ 570 billion in 2025, IEA notes that this is sufficient to maintain “modest” production growth, but only “a small decrease” away from flat or declining production.
IEA also notes that around the world, on average, there is a delay for approximately 20 years of issuing oil and gas exploration licenses, until additional production begins to flow. Explain:
“This includes five years on average to discover this field, eight years for evaluation and approval for development, and six years to build the necessary infrastructure and start production.”
(In a The last speech He pledged to increase the extraction of oil and gas from the North Sea, if elected, UK opposition leader Kimen Badnosh spoke about the need for new licenses.)
You need a new investment?
The IEA report continues to show that without continuing to invest in conservation of production, global oil and gas production will decrease, as shown in the figure below.
Global Oil (MB/D, Left) and gas production (BCM, right) if investment stops on the source. Credit: IEA.
the Financial times The IEA report shows the “costly battle” facing the oil and gas sector if it wants to maintain current production.
However, the newspaper added that the sector will likely welcome the results:
“IEA results are likely to be enthusiastic by the oil industry, which has constantly maintained that they need to spend it significantly to maintain current production levels.”
Fishing is that the report also shows the effects of low demand, in a world that limits warming to less than 1.5 ° C above pre -industry levels.
In the “NZE scenario” that is compatible with 1.5 ° C, IEA says that “a significant acceleration in the pace of energy transitions for current trends will witness a significant decrease in demand for oil and gas.
He adds that if this happens in the request, there will be no investment in the production of new oil and gas, as shown in the figure below. Specifically, the IEA report says:
“The frequency of reducing demand in the Nze (1.5 ° C) scenario is fast enough, in the total, you will not need to agree to long long traditional projects for the long time to develop.”
(IEA says that even in this “NZE scenario” that is compatible with 1.5 ° C, there is still a need for some investment in “current and approval” projects, to balance the decline prices.)
Global oil and gas production in 2024 (gray tape) and in the future without investment (light blue) and investment in current and approved projects (dark blue). The request appears according to the “NZE scenario” that is compatible with 1.5C by green circles. Credit: IEA.
The new report, and therefore, repeat the IEA’s The previous result A new oil and gas investment will not be needed if the world has reached 1.5 ° C.
However, it puts the focus more firmly on the need for a decrease in demand, in order to eliminate the need for a new investment, in contrast to the way this conclusion was reported widely.
In its coverage to discover 2021, for example, Guardian I mentioned that the development of oil and gas “must stop … if the world will remain within safe borders.”
On the contrary, the new IEA report says that investing in the development of the new oil and gas will be necessary to meet the demand, unless the demand is significantly reduced in line with a 1.5 ° C.
In addition to making this point firm, the IEA report notes that a group of high-cost oil and gas projects in the world will need an early closure-as the assets are cut off-if the demand for fuel decreases in line with a 1.5 ° C. She says:
“(T) o Ensuring a smooth balance between supply and demand, the decrease in demand in the Nze scenario will lead to the early closure of many higher cost projects before they reach the end of their artistic life. In 2050, for example, about 8MB/D of oil production and 250BCM will be retired from gas production earlier, indicating noticeable registration rates.”
This story was published with permission from Carbon summary.
👉 Read more at: Read Now
Hashtags: #IEA #repeated #oil #gas #global #warming #limited #News #Environmental #works
Written by on 2025-09-17 11:08:00
From: Eco-Business: News, Opinion, Jobs, Events, Press Releases and Research for topic Energy
