Saturday, May 30, 2020

Green energy could drive Covid-19 recovery with $100tn boost

Renewable energy could power an economic recovery from Covid-19 by spurring global GDP gains of almost $100tn (£80tn) between now and 2050, according...

'Of course it could happen again': experts say little has changed since Deepwater Horizon

A massive deepwater oil spill is nearly as likely today as it was in 2010, experts warn, 10 years after the disastrous explosion...

Supertankers drafted in to store glut of crude oil

Giant oil tankers are being used to hold record amounts of crude at sea due to a global oversupply which threatens to overwhelm...

Low demand for power causes problems for National Grid

National Grid has warned that record low demand for electricity during Britain’s coronavirus lockdown could lead to wind farms and power plants being...

Shell unveils plans to become net-zero carbon company by 2050

Royal Dutch Shell plans to become a net zero-carbon company by 2050 or sooner by selling more green energy to help reduce the...

JP Morgan sets aside $8.3bn to cover Covid-19 losses

JP Morgan, Wall Street’s biggest bank, has put aside $8.3bn (£6.6bn) to cover potential loan losses as it braces itself for a “fairly...

Major oil-producing nations agree historic 10% cut in output

The world’s largest oil producers have agreed a historic deal to cut global oil production by almost 10% to protect the market against...

ScottishPower breaks ranks on energy bailout calls

Energy companies should not be “screaming for a bailout” from the UK government as the sector is in a better position to weather...

Opec and Russia agree to cut oil output in bid to prop up prices

Opec and its allies led by Russia agreed on Thursday to cut their oil output by more than a fifth and said they...

Cumbrian oil services firm 'ready to make 2,000 ventilators a week'

A Cumbria-based offshore oil and gas services company has said it is ready to produce 2,000 ventilators a week to join the national...

New renewable energy capacity hit record levels in 2019

Almost three-quarters of new electricity generation capacity built in 2019 uses renewable energy, representing an all-time record. New data from the International Renewable...

Thousands to be paid for daytime green electricity use during lockdown

Thousands of British homes will be paid to use electricity during the day for the first time, as wind and solar projects produce...

British Gas braces for steep drop in revenues because of coronavirus

British Gas is bracing for a steep fall in revenues due to the coronavirus pandemic, as households delay paying their bills and its...

Centrica suspends dividend as Ovo furloughs 3,400 workers

Centrica has cancelled its dividend and suspended asset sales, while Ovo has furloughed more than a third of its workforce, in the first...

BP to cut spending amid 'most brutal' oil price rout in decades

BP is braced for a $1bn (£800m) financial blow in its first-quarter results and plans to slash its spending by a fifth this...

The fossil fuel industry is broken – will a cleaner climate be the result?

The plunging demand for oil wrought by the coronavirus pandemic combined with a savage price war has left the fossil fuel industry broken...

Fiddler’s Ferry: SSE closes last coal-power station after 50 years

Energy giant SSE has drawn a line on coal-fired power generation by closing the Fiddler’s Ferry Power Station in Warrington, Cheshire, after almost...

Energy groups seek help on payment holidays

Energy companies have asked the UK government to back a loan scheme worth up to £100m a month so they can offer payment...

Oil rig closures rising as prices hit 18-year lows

Global oil producers have begun shutting down their oil rigs on the largest scale in 35 years as the coronavirus continues to drive...

Aberdeen: teetering between its high-carbon past and a green future

Aberdeen is one of the few cities in the world where your taxi driver is almost guaranteed to know the global market price...

Britain’s electricity demand falls by a tenth in lockdown

Electricity demand in Britain dropped by a tenth last week after the UK government imposed a lockdown to curb the spread of coronavirus.As...

More than 4,000 North Sea oil rig workers lose job amid Covid-19 crisis

The North Sea’s workforce has fallen by 40% within two weeks as oil companies cut the size of their offshore oil rig teams...

UK greenhouse gas emissions fall for seventh year in a row

The UK’s greenhouse gas emissions fell for a seventh consecutive year in 2019 after a record year for renewable energy, according to government...

Hinkley Point C work to carry on but HS2 could be paused

Thousands of workers from across the country will continue to gather on the Hinkley Point C nuclear site – but work on the...

Climate change is still with us

The writer chairs the Policy Institute at King’s College LondonClimate concerns were top of the agenda just a few weeks ago. Governments were making...

Is hydrogen the solution to net-zero home heating?

On 27 June 2019, the energy and clean growth minister Chris Skidmore signed papers that committed the UK to reduce carbon emissions to...

North Sea oil and gas in 'paper-thin' position as prices plunge

The North Sea oil and gas industry is in a “paper-thin” position as global oil markets plummet towards 18-year lows amid the UK’s...

Sellafield nuclear waste site to close due to coronavirus

Britain’s nuclear waste site will shut its reprocessing plant at Sellafield after more than 8% of its staff began self-isolating to prevent the...