Low oil prices will test the resolve of the majors’ energy transition plans, but analysts expect the companies’ long-term commitments to decarbonization and renewable energy to remain intact. A dispute between Russia and Saudi Arabia has sent a flood of cheap oil and gas into global markets just as the COVID-19 pandemic is stifling demand. This market dislocation comes at a time when European oil majors including Shell, Total, Repsol and BP are embarking seriously down a path toward emission reductions and the diversification of their businesses into renewables, e-mobility and other energy services.
GTM 13th March 2020 read more »
The number of new renewable energy projects applying for planning permission reached a four-year high in the UK last year as energy companies raced to meet the rising demand for clean electricity. There were 269 planning applications for new wind, solar and bioenergy projects in 2019, up from 204 the year before, according to an analysis of government data by energy consultancy PX Group. The jump in applications last year was the biggest annual increase in recent years and 75% higher than the number of annual planning submissions made three years ago. There were just 154 submissions in 2016, rising to 185 in 2017.
Edie 16th March 2020 read more »