UK: Fossil fuel demand to take historic knock amid COVID-19 scars: BP
LONDON (Reuters) - Fossil fuel consumption is set to shrink for the first time in modern history as climate policies boost renewable energy while the coronavirus epidemic leaves a lasting effect on global energy demand, BP said in a forecast.
BP’s 2020 benchmark Energy Outlook underpins Chief Executive Bernard Looney’s new strategy to “reinvent” the 111-year old oil and gas company by shifting renewables and power.