Bloomberg Oil rose for a seventh straight week as efforts to pass another US virus relief package added to optimism that the vaccine’s rollout will provide a long-awaited boost to demand. Futures rose 1.5% in New York, extending this week’s rally to over 5%. Talks on a relief package have made some headway, with Senate Majority Leader Mitch McConnell saying …

Bloomberg Japan will aim to more than quadruple offshore wind generation capacity in the decade to 2040 under plans to meet its mid-century emissions reduction target. The government will seek to lift offshore wind capacity to as much as 45 gigawatts in 2040 from 10 gigawatts in 2030, the Ministry of Economy, Trade and Industry said in a statement. Reaching …

Bloomberg Australia is studying plans to transform a disused underground coal mine into a pumped hydro facility, part of a wider effort to reuse retiring fossil fuel sites for renewable energy generation. The A$13 million ($9.9 million) pilot trial at the Newstan Colliery, in Fassifern, about 140 kilometres (87 miles) northeast of Sydney, could offer a blueprint for dozens of …