The coronavirus pandemic will slash energy sector investment by about $400bn this year — the biggest ever annual fall — with the International Energy Agency warning that the world could grow more dependent on cheaper, dirtier fuels that undermine global climate goals.  Spending is due to plunge in every major sector, from oil, gas and coal to renewables, the Paris-based body said in a report published on Wednesday that takes into account project data and announcements from governments and companies.

Global Energy Spending to Fall $400bn Due to Coronavirus Crisis | Devamı>>>

China National Petroleum Corp (CNPC) has suspended investment in Iran’s South Pars natural gas project in response to U.S. pressure and to minimize tensions amid trade talks between Beijing and Washington, three Chinese state oil executives said.

South Pars is the world’s largest gas field and CNPC’s investment freeze is a blow to Tehran’s efforts to maintain financing for energy projects amid the re-imposition U.S. sanctions on its energy sector earlier this year.

CNPC Suspends Investment in Iran’s South Pars | Devamı>>>