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EU Parliament votes for 60% carbon emissions cut by 2030

The European Parliament voted on Tuesday (6 October) to update the EU’s climate target for 2030, backing a 60% reduction in greenhouse gas emissions by the end of the decade, up from 40% currently.

read more... 08/10/2020

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ExxonMobil focused on core oil and gas as renewable returns too weak: official

ExxonMobil remains focused on growing its core oil and gas business as alternative renewable energies are mostly unable to offer attractive rates of return compared to hydrocarbons, a top official at the US oil giant said Sept. 30.

read more... 01/10/2020

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EU sees red over China’s polluting coal plants in Southeast Europe

Chinese state-owned enterprises (SOEs) have been investing in coal plants, heavy industries in Southeast Europe at a time when Chinese President Xi Jingping promised during a recent speech to the UN Assembly that China will aim to hit peak emissions before 2030 and for carbon neutrality by 2060.

read more... 30/09/2020

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Greece’s target of phasing out coal by 2028 is ‘highly optimistic’

Greece apportioned €5bn ($5.9bn) to phase-out the use of coal by 80% by 2023, to reduce the nation’s carbon footprint. These are highly optimistic targets, particularly considering the fact that back in 2015 coal-based generation formed 41.6% of the generation mix. In 2019 this reduced to 27.9%, which, by 2030, if not entirely staged out, is predicted to have a small share of less than 10%.

read more... 25/09/2020

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Daily (24.09.2020): European carbon prices lost 5% on Wednesday, as quarterly EUA options expired leading to an oversupply

Oil prices rose slightly on Wednesday amid a drop in US crude and fuel stocks. Still, a rise in the numbers of Covid-19 cases globally limited gains. As a result, Brent crude rose by 4.2% to settle at $42.22 a barrel. Meanwhile, WTI futures hiked by 4.9% at $40.16 a barrel.

read more... 24/09/2020

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