US natural gas and oil production to fall in 2021

That would be a result of a decline in drilling activity related to low oil prices, with responses to the COVID-19 pandemic also leading to supply and demand disruptions

Australia announces immediate support for refineries to tackle Covid-19 shocks

The government will bring forward production payments to support the country’s oil refineries

‘Up to £416bn of net zero investment needed by 2050 if UK is to remain a global energy leader’

That’s the forecast from the Oil and Gas Technology Centre and Offshore Renewable Energy Catapult, which suggest new investment in clean North Sea technologies could boost the UK economy by as much as £125 billion each year

ExxonMobil to cut 1,900 US jobs as pandemic ‘makes the need for reorganisation urgent’

The layoffs will affect employees at the oil giant’s management offices in Houston, Texas

Changes are coming; are we ready?

With both the American election and winter around the corner, as well as rising COVID cases spurring new measures and lockdowns, how are markets reacting?

Vancouver becomes first city to endorse Fossil Fuel Non-Proliferation Treaty

The Treaty aims to foster international co-operation to end expansion into new reserves of coal, oil and natural gas to limit carbon emissions and advance an equitable transition to clean energy

‘No major fossil fuel firm is aligned to limiting climate change to 2°C’

The Transition Pathway Initiative claims all fossil fuel giants are still wide’ of the 2°C mark, despite a raft of ‘attention-grabbing’ climate commitments

US, UAE and Israel to develop joint energy strategy

They have agreed to develop an energy partnership that drives innovation and prosperity and that they claim ‘will help solve the energy challenges facing the Palestinians’

VAT subsidy on domestic gas ‘mostly benefits wealthier households’

The government is being urged to end the 5% VAT rate on domestic heating fuels and redistribute the revenues to help those on low incomes to heat their homes

Electricity under lockdown: cheaper, cleaner, but harder to control

The latest Drax Electric Insights report shows the impact lockdown had on our electricity system. The report, conducted via Imperial Consultants, by academics from Imperial College London, is an independent analysis of Great Britain’s electricity system during the second quarter of 2020.