COVID-19 changed how we live and work in ways that will alter our behavior long after the pandemic subsides. Companies moved rapidly to deploy digital and automation technologies, dramatically accelerating trends that were unfolding at a much slower pace before the crisis. Work went remote, shopping, entertainment, and even medicine went online, and businesses everywhere scrambled to deploy digital systems to accommodate the shifts.

These changes in consumer behavior and business models will persist in advanced economies after the pandemic recedes, although perhaps not with the same intensity as during the crisis.

What’s Next for Consumers, Workers, and Companies in the Post Covit-19… | Devamı>>>

By quickly adapting production, Nynas was able to meet an increase in demand resulting from the Covid-19 pandemic.

NYFLEX® 223 is a hydrotreated and highly refined, high-viscosity naphthenic oil, which is used for hot melt adhesives, as well as plasticiser for TPE and high-end rubber articles. Having experienced global growth in recent years of between 3 % and 10 %, depending on the region, this spring saw a major shift in the trend.“Global demand for NYFLEX® 223 went up in April by 60 %, and since May it has actually doubled.

Booming Demand for NYFLEX® 223! | Devamı>>>

Earlier this month, I wrote about how COVID-19 is a cautionary tale for climate change. There’s no doubt that we have experienced terrible suffering and economic hardship over the last several months. But as hard as it is to imagine right now when we’re still in the middle of the pandemic, climate change has the potential to be even more devastating.

The pandemic has also reminded us how much innovation is needed to prevent a climate disaster.

Bill Gates: How We’ll Move Around In a Clean, Green Future? | Devamı>>>

Herculean global action to roll back the economic carnage of the coronavirus is about to bump into a new problem: climate change. With as much as $15 trillion in economic stimulus on offer – an unfathomable 17% of global GDP – we’ll see spending on a scale that will affect the earth’s climate no matter what.

Most of the spending is being raised in China, the European Union and the United States, the big three global emitters.

Can Coronavirus Stimulus Get Us Off Fossil Fuels? | Devamı>>>

On May 12, the Energy Information Administration (EIA) released its latest Short Term Energy Outlook (STEO). This report reflects the first deep dive into how the energy demand collapse brought on by the COVID-19 pandemic is impacting energy market projections.

This month’s report includes a special caveat that is indicative of our present unusual circumstances:

“Although all market outlooks are subject to many risks, the May edition of EIA’s Short-Term Energy Outlook remains subject to heightened levels of uncertainty because the effects on energy markets of mitigation efforts related to the 2019 novel coronavirus disease (COVID-19) are still evolving.”

Here are some of the key summarized highlights from the EIA report, followed by my commentary on these projections.

Short Term Energy Outlook Shows Impact Of COVID-19 | Devamı>>>

The latest report on energy system developments shows that 176 GWs of new renewable energy capacity accounted for 72% of all new energy capacity additions in 2019.

The data, released in the International Renewable Energy Agency (IRENA)’s annual Renewable Capacity Statistics 2020, showed that while the 2019 figure was slightly lower than 2018’s 179 GW the market continued to expand, up over 7.5%. Asia showed the most spectacular growth, with 54% of total additions while wind and solar power accounted by 90% of capacity deployed.

Renewable Energy Outstrips Fossil Fuel | Devamı>>>

A 500 megawatt solar photovoltaic plant, described by Spanish utility Iberdrola as “Europe’s largest,” sent its first megawatt hour of energy to the grid earlier this week, a welcome bright spot for an industry that in the months ahead could experience difficulties brought about by the coronavirus pandemic.

The Núñez de Balboa facility is located in Extremadura, a region in the west of Spain. According to Iberdrola, it has over 1.4 million solar panels and will be able to supply energy to 250,000 people per year.

‘Europe’s Largest’ Solar Power Facility Comes Online | Devamı>>>

Oil prices are down nearly 50% for the year after OPEC+ talks collapsed and Saudi Arabia announced slashed prices in an apparent price war with Russia.

Oil prices fell through the floor in early trading Monday, tanking as much as 30% after Saudi Arabia slashed its crude prices for buyers. The kingdom is reportedly preparing to open the taps in an apparent retaliation for Russia’s unwillingness to cut its own output.

Oil Nose-Dives as Saudi Arabia and Russia Set Off ‘Scorched Earth’ Price War | Devamı>>>

Oil prices fell through the floor in early trading Monday, tanking as much as 30% after Saudi Arabia slashed its crude prices for buyers. The kingdom is reportedly preparing to open the taps in an apparent retaliation for Russia’s unwillingness to cut its own output.

“This has turned into a scorched Earth approach by Saudi Arabia, in particular, to deal with the problem of chronic overproduction,” John Kilduff, founding partner of Again Capital, told CNBC.

Oil Nosedives as Saudi Arabia and Russia Set Off ‘Scorched Earth’ Price War | Devamı>>>

Oil demand is set to fall this quarter for the first time since the financial crisis in 2009 due to the coronavirus outbreak in China, the International Energy Agency (IEA) said on Thursday.

“The consequences of Covid-19 for global oil demand will be significant,” the Paris-based IEA said in a monthly report, using the new scientific name for the virus.

Demand in the first quarter of 2020 is expected to fall by 435,000 barrels per day (bpd) compared with a year earlier, it said, noted it would be “the first quarterly decrease in more than a decade”.

Oil Demand Set for First Fall in a Decade as Virus Takes Toll: IEA | Devamı>>>