The Netherlands, Europe’s second- largest gas exporter, may become an importer by 2025 as output falls from its Groningen province and progress in unconventional sources stalls, the International Energy Agency said.
Kashagan, Kazakhstan’s largest oilfield that’s been halted following a leak, will probably go without any output this year and may yield a small quantity next year, said Total SA, which owns a portion of the venture.
Saudi Arabia boosted crude exports by 3.5 percent in February to the highest in five months, while Iran’s shipments gained and Iraq sold the most oil for at least 12 years, the Joint Organisations Data Initiative said.
The world needs to triple the energy it gets from renewables, nuclear reactors and power plants that use emissions-capture technology to avoid dangerous levels of global warming, United Nations scientists said.
West Texas Intermediate headed for a weekly gain after the International Energy Agency said OPEC will need to pump more crude this year. The discount to Brent shrank after Libya signaled it’s ready to boost exports.