Energy


    • IEA: Investment in energy at record drop

      IEA: Investment in energy at record drop

      The coronavirus crisis is causing the biggest fall in global energy investment in history, according to the International Energy Agency (IEA). Before the pandemic, funding was set to rise 2%, but now it’s predicted to plunge 20%, it pointed out. Fossil fuels are hit hardest, with a 30% funding drop expected for oil and a 15% fall for coal, while investment in renewables is down 10%, about half of what is needed to combat climate change.

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    • Danish companies team up to build giant fuel plant

      Danish companies team up to build giant fuel plant

      Six Danish companies have teamed up to build what could be the biggest electrolyser in the world outside Copenhagen, hoping to turn wind power from a new energy island in the Baltic into green jet fuel for Copenhagen airport, the Local reported. The plant should from 2030 be able to supply annually 250,000 tonnes of sustainable fuel for buses, trucks, ships and aircraft.

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    • EU court delivers Nord Stream 2 further blow

      EU court delivers Nord Stream 2 further blow

      Europe’s second highest court has rejected a challenge by the operators of the Nord Stream 1 and Nord Stream 2 pipelines against EU gas rules, saying it was up individual member states to enforce them, news wires repported. The Nord Stream 2 operating company had said the EU rules, which require separate companies to build, operate and own pipelines, would weaken the basis for funding the project, and turned to the courts to annul a relevant EU gas directive amendment adopted last year.

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    • World's largest wealth fund blacklists giants over coal use

      World's largest wealth fund blacklists giants over coal use

      Norway’s $1trn wealth fund is excluding some of the world’s biggest commodities firms from its portfolio, including Glencore and Anglo American, because of their use and production of coal. Underlining the growing role of climate considerations for long-term investors, the fund is also excluding German utility RWE, South African petrochemicals firm Sasol and Dutch company AGL Energy over their use of coal.

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    • Saudi to cut oil output by another 1 million barrels a day

      Saudi to cut oil output by another 1 million barrels a day

      Saudi Arabia said Monday it had asked oil giant Aramco to cut an additional one million barrels per day from June, to support prices that have crashed during the coronavirus crisis. The move will reduce the production of the world's biggest crude exporter to 7.5 million barrels per day, the energy ministry said in a statement cited by the official Saudi Press Agency. 

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