COVID-19 has spurred a transition away from non-renewable energy, to more renewable sources, including wind. A survey has found more than half of North Sea oil and gas workers would work in renewables and offshore wind. The researchers set out four principles of a 'just transition', which supports workers in high-carbon industries to retrain and switch to cleaner work. For the first time in history, the price of US oil turned negative in April 2020. While the oil and gas sector has faced downturns before, the collapse of demand during lockdowns in the pandemic may prove to be its biggest challenge yet. The ensuing glut of cheap oil has mired operations in the North Sea too, where as many as 30,000 jobs could be lost. Signalling his ambition for ...read more...
SourceWorld Economic Forum
SectorOil & Gas