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North Sea major files for CO2 storage licence as part of UK’s net-zero journey

North Sea oil and gas independent Chrysaor has submitted a licence application for the purpose of storing CO2 in a depleted reservoir in the North Sea off the UK.

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European lockdowns weigh on global fuel recovery

As the second wave of the virus hit many Western countries, governments imposed new lockdowns, closing restaurants and bars and banning gatherings. But the measures were not as strict as during the first wave

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Renewables To Grow 7% In 2020

Renewable power generation capacity will increase by 7 percent this year despite a 5-percent forecast decline in global energy demand, the International Energy Agency said in its Renewables 2020 report.

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Daily (10.11.2020): Oil prices spiked by about 8% on Monday amid Covid-19 vaccine breakthrough

Oil prices spiked on Monday after US drug firm Pfizer and Germany’s BioNTech unveiled a Covid-19 vaccine that has been found to be more than 90% effective, igniting hopes of improving black gold demand. Hence, Brent crude rallied by $2.95, or 7.5%, to settle at $42.40 a barrel. Meanwhile, U.S. WTI crude surged by $3.15, or 8.5%, to end at $40.29 a barrel. Both contracts hit their biggest daily gain in more five months.

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Norway plans heavy oil ban around Svalbard

The Norwegian government has announced plans to ban heavy fuel oil (HFO), a dirty marine fuel that propels most vessels, around its Svalbard archipelago in the Arctic Ocean. The effort comes as UN efforts have been deemed too slow.

read more... 10/11/2020

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