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climate change

Energy Transition

Microsoft to invest $1bn in carbon-reduction technology

Microsoft Corp. unveiled plans to invest $1 billion to back companies and organizations working on technologies to remove or reduce carbon from the earth’s atmosphere, saying efforts to merely emit less carbon aren’t enough to prevent catastrophic climate change.

All News

EU dedicates £850bn to climate change fight

The European Union plans to dedicate a quarter of its budget to tackling climate change and has set up a scheme to shift one trillion euro (£856 billion) in investment towards making the economy more environmentally friendly over the next 10 years.

North Sea

North Sea industry transition to continue in 2020

The North Sea oil industry has been in transition for some years following the collapse of oil prices in late 2014.  Large cost reductions have been painfully achieved.  Production has increased due to a combination of new fields coming on stream plus a substantial increase in production efficiency to around 75%.  But new field investment expenditure has fallen dramatically since 2015 and exploration remains at a relatively low level reflecting principally the maturity of the province as well as oil and gas prices far below their pre-2015 levels.

Oil & Gas

Exxon prevails over New York in climate accounting case

Exxon Mobil Corp. won a closely watched securities-fraud trial that delved into its internal accounting for the financial risks of climate change, a striking rejection of New York state’s claim that the company misled investors for years.