Oil and natural gas are still projected to meet more than half of the world’s energy needs in 2050, or 54%, Exxon Mobil Corp said, with the world failing to keep global temperature increases below 2 degrees Celsius

“The pathway to net zero is narrow but still achievable. If we want to reach net zero by 2050 we do not need any more investments in new oil, gas and coal projects,” Fatih Birol, the IEA’s executive director

The government will auction up to 136 new oil exploration blocks in a major licensing round, with 125 of those in the Arctic Barents Sea, a relatively unspoiled corner of the planet