The two trillion dollars of investment in clean energy this year will almost double the amount allocated to fossil fuels, which are also growing but at a slower rate, according to the International Energy Agency (IEA)

According to EY’s latest report, solar and wind energy will power “almost everything” for the next decade. Renewables, in general, will align supply with demand, and oil and gas will become more environmentally friendly

The head of Brazil’s state oil firm Petrobras said it will sign a memorandum of understanding with mining giant Vale to study potential joint ventures in renewable energy, even as looks to new suppliers for diesel

Igor Sechin, the head of Russian oil major Rosneft, said the world was facing an acute oil shortage in the long-term due to underinvestment amid a drive for alternative energy, while demand for oil continued to rise

Spanish wind energy group Iberdrola plans to invest 75 billion euros ($88 billion) in its renewable energy production, grids and retail operations by 2025 to capitalise on growing global demand for clean power

Royal Dutch Shell announced plans to cut up to 9,000 jobs, or over 10% of its workforce, as part of a major overhaul to shift the oil and gas giant to low-carbon energy

BP entered the offshore wind market on Thursday with a $1.1 billion deal to buy 50% stakes in two U.S. developments from Norway’s Equinor, a significant step by the oil firm towards its energy transition goals

The energy industry is set to suffer a record drop in investment due to the coronavirus fallout, the IEA said, and while renewables are likely to fare better than oil, any swift economic recovery could create a global fuel crunch