The output of Eight Core Industries declined by 38.1% in April 2020 compared to decline of 9% in the previous month of March 2020. In view of nationwide lockdown during April 2020 due to COVID-19 pandemic, various industries viz. Coal, Cement, Steel, Natural Gas, Refinery, Crude Oil etc experienced substantial loss of production.
Despite accelerated progress over the past decade, the world will fall short of ensuring universal access to affordable, reliable, sustainable and modern energy by 2030 unless efforts are scaled up significantly, a new report by several agencies said.
The supply of coal to the power sector by state-owned Coal India has dropped 22% to 31.95 million tonnes in April amid slump in the fuel demand in the country on account of COVID-19-induced lockdown. Coal India had supplied 40.90 million tonnes of April, 2019, coal ministry said.
Global energy investments are set to nosedive by 20%, or about $400 billion, as compared to last year due to the COVID-19 crisis, resulting in serious implications for energy security and clean energy transitions, according to a latest report by the International Energy Agency (IEA). It added that this would be the largest drop in global energy investment in history, with spending expected to plunge in every major sector from fossil fuels to renewables, and efficiency.