Clean power stocks outperform fossil fuel peers during pandemic. US clean power stocks rose 2.2 per cent in the first four months of the year, while their fossil fuel peers fell 40.5 per cent.
FT 28th May 2020 read more »
Energy giant BP has told shareholders its net zero transition is “deepened and accelerated” by the Covid-19 pandemic, but kept quiet on the fine print. At the company’s 111th AGM earlier, hosted online for the first time due to the virus, chief executive Bernard Looney said the more he learns of the crisis, the more convinced he is that BP’s.
Energy Voice 27th May 2020 read more »
Global investment in energy will fall by a record $400 billion this year, threatening future security of supply and the battle against climate change, the International Energy Agency has warned. Investment had been expected to rise by 2 per cent this year, but is now expected to plummet by a “staggering” 20 per cent because of the coronavirus pandemic, the biggest drop on record, the Paris-based body said. Oil companies have already cut tens of billions of dollars from their spending plans after the Covid-19 outbreak triggered a collapse in demand and prices and the sector is expected to suffer the biggest hit, with investment forecast to drop by almost a third.
Times 28th May 2020 read more »