Low oil prices pose risk for energy security, IEA chief warns in Australia

The Sydney Morning Herald , 9 February 2016

With markets “awash” in oil, IEA Executive Director Fatih Birol said low prices may increase energy security risks, especially given recent geopolitical developments in the Middle East. In an interview in Canberra, Dr. Birol told The Sydney Morning Herald that if prices do not recover, governments may need to take action, such as cutting taxes or royalties, to relieve pressure on the oil sector and avoid further drops in investment that could undermine future supply. 

IEA chief featured prominently in front-page New York Times article about low oil prices’ effect on decarbonisation

The New York Times, 25 January 2016

IEA Executive Director Fatih Birol is the first authority cited in a front-page New York Times article assessing the impact of low oil prices on countries’ COP21 pledges to limit greenhouse gas emissions. “This will be a litmus test for the governments — whether or not they are serious about what they have done in Paris,” Dr. Birol told the newspaper.

At Davos, IEA Executive Director warns that oil investment cuts “may be costly in a few years’ time”

Reuters, 21 January 2016

During a televised interview with Reuters, IEA Executive Director Fatih Birol said he saw no sign of a rebound in oil prices in 2016. “There is still so much oil in the market,” he said from the World Economic Forum in Davos, Switzerland, and the return of Iranian oil to the market “cancels out all of the decline from high-cost producers” like US shale companies. “There is one issue that is very important to note,” he added: after a 20% decline in oil-sector investment in 2015, the IEA expects a further 15% cut this year, “which may be very costly in a few years’ time”. 

For new Oil Market Report editor, “very, very little relief is sight” from excess of supply

CNBC, 19 January 2016

CNBC interviewed the new Head of the Oil Industry Markets Division, Neil Atkinson, as the IEA warned in its January Oil Market Report that the market could drown in oversupply. "There seems to be very, very little relief in sight from the downward pressure on the market that this surfeit of supply over demand is exerting," he told the business news network. Hundreds of other news sites worldwide also reported on the OMR findings, which ranked second on Bloomberg's list of the top five conversation topics for the day.

Yale news report on Indian microgrids turns to IEA, “the most authoritative source of global energy data”

Yale Environment 360, 14 January 2016

A special report on microgrids in the Indian countryside by Yale Environment 360 cites the outlook of the IEA, “the most authoritative source of global energy data”, that 70% of rural areas worldwide currently lacking access to modern energy services will need to be connected to electricity via locally powered, stand-alone minigrids.

Indian Prime Minister turns to IEA Executive Director for ideas to boost oil and gas investment

Press Trust of India via India.com , 5 January 2016

The Press Trust of India listed IEA Executive Director Fatih Birol as one of the leading voices at a consultation in New Delhi called by Indian Prime Minister Narendra Modi to hear how the country can attract investment to increase domestic energy production. 

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