Renewable Power ‘Already Cheapest Kind of Electricity in Many Countries’

Renewable power is already the cheapest source of electricity in many parts of the world. That’s the verdict from a new report published by the International Renewable Energy Agency (IRENA), which suggests the cost advantage of renewables will extend further as prices continue to fall in the next decade. It …

Most Technologies and Sectors ‘Not Keeping Pace with Long-Term Energy Goals’

Most technologies and sectors are not keeping pace with the long-term goals of the clean energy transition. That’s according to the International Energy Agency (IEA), which suggests many types of energy asset are not adequately working towards its Sustainable Development Scenario (SDS) targets to tackle climate change, deliver energy access …

Cambridge University Agrees to Explore Fossil Fuel Divestment Plan

The former archbishop of Canterbury Rowan Williams has welcomed an “urgent change” by Cambridge University, after it agreed to provide fully costed plans setting out how it could divest multibillion-pound endowments from fossil fuel corporations. The university’s management accepted a motion, known as a grace, which urged Cambridge to “set …

ExxonMobil Signs Deal to Explore 28,000 sq km in Offshore Namibia

ExxonMobil has signed a deal for new oil and gas exploration across 28,000 square kilometres in Namibia. The energy giant made the agreement with the Namibian Government and the National Petroleum Corporation of Namibia (NAMCOR) for blocks 1710, 1810, 1711 and 1811A – it plans to begin exploration activities, such …

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Planned $4.9tn Oil and Gas Investment ‘Not Compatible with Climate Goals’

A planned investment of $4.9 trillion (£3.8tn) in new oil and gas exploration and extraction over the next decade is incompatible with international climate obligations. That’s according to new analysis by Global Witness, which claims any fossil fuel production and use from fields not yet in operation or development will …

Coal Prices Continue to Rise, Becoming More Costly Than Solar and Wind Alternatives

Around three-quarters of US coal production is now more expensive than solar and wind energy in providing electricity to American households, according to a new study. “Even without major policy shift we will continue to see coal retire pretty rapidly,” said Mike O’Boyle, the co-author of the report for Energy …

UK Offshore Oil and Gas Production up by a Fifth over past Five Years

UK offshore oil and gas production has increased by a fifth over the past five years, following 14 years of decline. That’s according to a new report from Oil and Gas UK (OGUK), which suggests momentum is again building around exploration activity, with up to 15 exploration wells expected in …