A combination of continued production cuts and an increase in economic activity has prompted oil prices to return to pre-pandemic levels – a factor that will be crucial to the recovery of major oil-producing countries in the Middle East and Africa.
Energy
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Articles & Analysis | The Philippine government's new priorities for energy from The Report: Philippines 2021
The Covid-19 pandemic hit the Philippines’ consumption-driven economy hard, with forecasts from the IMF suggesting that real GDP could contract by as much as 9% in 2020. Strict lockdowns took a heavy toll on the energy sector in the form of a steep drop in demand for both electricity and fuel, yet local power providers took steps to ease the...
Articles & Analysis | How will the energy mix look in the post-Covid-19 Philippines? from The Report: Philippines 2021
Travel restrictions and the suspension of industrial activities around the world due to the Covid-19 pandemic have led to an unprecedented drop in global emissions. According to data from the Helsinki-based Integrated Carbon Observation System (ICOS), by the first week of April 2020 daily carbon emissions had fallen by 17% against mean 2019...
The Covid-19 pandemic hit the Philippines’ consumption-driven economy hard, with forecasts from the IMF suggesting that real GDP could contract by as much as 9% in...
The Philippines is one of the world’s fastest-growing nations. Although economic activity slowed during the 2020 Covid-19 pandemic period, stimulus measures, imminent public sector policies and a larger budget are expected to create jobs, generate growth and help kick-start the country’s recovery during 2021.
– Energy demand and oil prices slumped on the back of Covid-19
– OPEC+ countries agreed on sharp production cuts to stabilise prices
– While coal, oil and gas investment fell, investment in renewables increased
– Rise in sustainable finance looks set to bolster the renewable transition