China may triple electricity generation to supply 60% of the country's total energy under Beijing's carbon-neutral goal by 2060, up from the current 23%, Royal Dutch Shell said on Monday. Shell is one of the largest global investors in China's energy sector, with business covering gas production, petrochemicals and a retail fuel network. A leading supplier of liquefied natural gas, it has recently expanded into low-carbon business such as hydrogen power and electric vehicle charging.
BP, Shell and utility Iberdrola were among the winners of seabed rights to develop Scottish offshore wind projects, in an auction which raised nearly 700 million pounds ($958 million) for public spending. Crown Estate Scotland, which manages the Scottish seabed, said on Monday that proceeds from the first such leasing deal in around a decade will go to the devolved Scottish government. The 17 winning Scottish projects will produce nearly 25 GW in the next decade, helping to provide low-carbon power in line with a UK-wide goal to cut emissions to net zero by mid-century.
Yahoo Finance's Jared Blikre gives an outlook in the oil and energy market for today.