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World faces 'water-energy' crisis

Surging populations and economies in the developing world will cause a double crunch in demand for water and energy in the coming decades, the UN said Friday. In a report published on the eve of World Water Day, it said the cravings for clean water and electricity were intertwined and could badly strain Earth's limited resources.

IEA raises 2014 oil demand forecast on improving economy

Global oil demand will rise faster than expected as the world economic outlook improves, the International Energy Agency said Friday, warning that the crisis in Ukraine can still drag down overall consumption. The latest demand estimate of 92.7 million barrels per day is an increase of 95,000 barrels a day above last month's forecast, with emerging markets expected to provide most of the gain, the International Energy Agency said. It is also the fourth straight month that the agency is raising its demand outlook.

IEA raises 2014 oil demand forecast on improving economy

Global oil demand will rise faster than expected as the world economic outlook improves, the International Energy Agency said Friday, warning that the crisis in Ukraine can still drag down overall consumption. The latest demand estimate of 92.7 million barrels per day is an increase of 95,000 barrels a day above last month's forecast, with emerging markets expected to provide most of the gain, the International Energy Agency said. It is also the fourth straight month that the agency is raising its demand outlook.

Apps that tracks energy use wins the Energy Apps for Ontario Challenge

TORONTO - An app that tracks electricity use and shows consumers how their daily actions affect their overall energy consumption is the winner of the Energy Apps for Ontario Challenge. The Wattson app, which was named the best app by the panel of industry experts and by public voting, received $22,500 in funding. The apps were judged on creativity, how well they share electricity data in a standardized and secure manner, and their potential impact. The Ontario Ministry of Energy funded the challenge and awarded a total $50,000 across six different categories.

Oil prices fall amid tight market

Oil prices fell on Thursday, but losses were curbed by upbeat sentiment over demand in the United States and China, analysts said. The main US futures contract, West Texas Intermediate for delivery in March, dropped 58 cents to $99.79 a barrel compared with Wednesday's close. Brent North Sea crude for March shed 41 cents to $108.38 a barrel in London midday deals. World oil markets are unexpectedly tight as growth in advanced economies picks up, the IEA warned on Thursday, urging OPEC to skip a seasonal output drop as stocks touch six-year lows.

IEA raises 2014 oil demand forecast to 92.6 mbd

The IEA on Thursday pushed up its forecast for 2014 oil demand to 92.6 million barrels per day due to a rebound in growth in advanced economies. The International Energy Agency increased the forecast, by 125,000 barrels per day, despite the tapering of US monetary stimulus slowing down oil demand growth in emerging economies. Meanwhile it said that global supplies slid by 290,000 barrels per day in January to 92.1 mbd, mostly due to non-OPEC producers, but this was still a 1.5 mbd gain from the previous year.

Oil markets tight, IEA warns

World oil markets are unexpectedly tight as growth in advanced economies picks up, the IEA warned on Thursday, urging OPEC to skip a seasonal output drop as stocks touch six-year lows. Analyst have warned of an oil glut and drop in prices for months. But the International Energy Agency said a pick up in demand in advanced countries, led by the United States, has more than compensated for a slowing of emerging market demand.

Energy think-tank CGES announces closure

Influential London-based oil and gas industry think tank the Centre for Global Energy Studies announced its closure on Wednesday. CGES, established by ex-Saudi oil minister and OPEC co-founder Sheikh Ahmed Zaki Yamani in 1990, will shut next month, the consultancy said in a statement that gave no reason for the decision. "The Centre for Global Energy Studies has been pleased to serve the energy sector for the last 24 years, by providing transparent, independent, professional analysis to the oil and gas industry," it said.

German industry says energy reform plans threaten jobs

By Madeline Chambers BERLIN (Reuters) - German industry has warned that the government's new energy plans jeopardize jobs in Europe's biggest economy, in particular a proposal to make firms that generate their own electricity pay charges to support renewable sources. Social Democrat (SPD) Economy Minister and Vice-Chancellor Sigmar Gabriel has outlined a much-needed reform to a system of costly subsidies which has helped to fund a boom in green energy in Germany. He is now working on details.

Deep-pocketed foundations pledge to divest from fossil fuels

WASHINGTON (Reuters) - More than a dozen foundations representing more than $2 billion in assets said Thursday they will stop investing in fossil fuel companies as both the World Bank and United Nations chiefs strengthen calls for divestment from "high carbon" assets. The Divest-Invest Philanthropy coalition includes foundations, such as the Park Foundation, the John Merck Fund and the Schmidt Family Foundation - co-founded by Google Inc Executive Chairman Eric Schmidt - in the United States, as well as the Joseph Rowntree Charitable Trust abroad.
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