The big multinational oil-and-gas company Eni posted a roughly $3.15 billion net loss for the quarter on Friday, citing the combined effect of the "ongoing economic recession" due to coronavirus and low prices.
Why it matters: It's a sign of what's to come for the sector in this earnings period and going forward for a while.
The coronavirus pandemic is amplifying the debate over the relevance of individual behavior in fighting climate change.
Why it matters: The real-time experiment is lending itself to different takes on whether individual steps — as opposed to only systemic policy changes, cracking down on polluters and tech innovations — can play a major role in cutting emissions.
The financial toll brought on by the coronavirus pandemic could hinder plans for countries' ambitious renewable energy goals, as jobs disappear amid strict nationwide lockdowns.
Driving the news: Milestones for low-carbon energy policies in China, India and the European Union, which were all expected to drive new projects this year, are scheduled to expire soon.
