A total of €18.3 billion will be invested during the new five-year plan. Low-carbon spending will reach €5.5 billion between 2021 and 2025 – 30% of the total – which will be accompanied by a continued international expansion.

The circular carbon economy concept has been endorsed by G20 member states but has yet to be put into practice, and the kingdom has not revealed any timelines or targets associated with the plan.

Nikkei rose 0.41% to close at 26,644.71. The index has gained 15.96% this month, and is on track for its best performance since January 1994. The broader Topix rose 0.47% to hit a 25-month high at 1,786.52.

China Coal Transportation and Distribution has signed a US$1.5bn agreement with the Indonesian Coal Mining Association (APBI) to buy 200 Mt of thermal coal in 2021.

The UK Treasury said yesterday it is important to consider large-scale nuclear projects in addition to Hinkley Point C (HPC) if the country is to meet its net-zero by 2050 target.

“The global energy market is changing, humanity needs new, efficient, more environmentally friendly energy sources not as a replacement, but as an alternative to traditional hydrocarbons. And hydrogen will definitely occupy its niche in the energy of the future,” said TPU.

Brent were down 1 cent at $48.60 a barrel . WTI was off by 4 cents at $45.67 a barrel.

"The macroeconomic situation has had a negative impact on the long-term development prospects of the LNG industry," Gazprom said, adding that so far in 2020 only one final investment decision had been made for a new LNG production project.

In the shale gas sector, the most affected player has been the United States, which accounts for about 95 per cent of global shale gas production. According to analysts, the growth rates of U.S. shale gas production may show a considerable decrease in the coming years.

U.S. commercial crude oil inventories decreased by 0.8 million barrels to 488.7 million barrels

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.39% while Japan’s Nikkei gained 0.91%.

U.S. Real gross domestic product (GDP) increased at an annual rate of 33.1 percent in the third quarter of 2020

The Italian energy group Enel has announced plans to invest €190bn in the 2021-2030 period

The idea of using ammonia as a carrier for hydrogen delivery has gained traction in recent years because ammonia is much easier to liquify than hydrogen and is therefore much easier to store and transport.

U.S. Rig Count is up 10 from last week to 320 , Canada Rig Count is up 1 from last week to 102,