Oil and gas is often painted as the dirtiest sector within the energy industry, but major companies have begun to invest in renewable technologies in a bid to clean up the economy. Of the six “super-majors” – BP, Shell, Chevron, Total, Eni and Exxon – many of them have pumped billions into clean energy projects, although question marks remain over whether they are doing enough. “One of the challenges is that oil and gas companies are comparing renewables projects on a similar basis. Although they are both in the energy space, they are very different propositions — totally different risks, challenges and returns at the end of the day,” said Heggarty.

According to Forbes’ Jim Collins, “the white paper contains the prediction that 90% of renewable energy investment between now and 2030 will come from companies whose main source of revenue is other than renewables.” The prognosis: the renewable energy sector shouldn’t expect big oil to kick down the door anytime soon. As renewable energy grows, so does interest from Big Oil. As the potential for wind and solar energy grows — and the cost of the technology falls — experts anticipate a growing number of traditional oil and gas companies to invest in the renewables sector. All Big Oil companies except Exxon Mobil (BP, Chevron, Royal Dutch Shell, Conocco Phillips, Eni, Total) have invested or have announced investments in renewable energy sector. Besides Big Oil, Oil & Gas majors such as Saudi Aramco, Stat Oil have plans to invest in renewable energy. Big Oil must spend $350 billion on wind and solar between now and 2035 in order to have their renewable market share match the 12% they currently hold in oil and gas, Wood MacKenzie estimates. Reports of oil industry investment in renewable energy and electricity should be taken with a large dose of salt, as this has happened before only to be abandoned.

Take a look at some of the most recent blockbuster Big Oil deals in renewable energy… Earlier this year, Royal Dutch Shell Plc. (NYSE: RDS.A) spent $217 million to buy a 44% stake in Silicon

The world’s biggest oil companies are closing more clean energy deals as pressure to diversify their businesses mounts and growth accelerates among green technologies. Big Oil Is Investing Big oil traders begin investing in renewable energy Feb 17, 2020 The world’s big oil trading firms are investing heavily in environmentally-friendly projects as they face increasing pressure from investors, governments, activists and financiers to find a sustainable business model. According to Forbes’ Jim Collins, “the white paper contains the prediction that 90% of renewable energy investment between now and 2030 will come from companies whose main source of revenue is other than renewables.” The prognosis: the renewable energy sector shouldn’t expect big oil to kick down the door anytime soon. As renewable energy grows, so does interest from Big Oil. As the potential for wind and solar energy grows — and the cost of the technology falls — experts anticipate a growing number of traditional oil and gas companies to invest in the renewables sector.

Shell is one of the few Big Oil majors that are placing their bets on green energy. Thanks to its merger with BG group, Shell is all set to become the most powerful and the biggest Liquefied Natural Gas producer in the world. It is a fact that as far as alternate energy is concerned,

13 Sep 2018 Major oil companies are expanding into renewables, but there is a lot their total investments into renewables and the electricity value chain. 28 May 2019 Renewable energy investment in the Asia-Pacific region, excluding China, Fossil fuel companies could be the biggest investors in Australian 

1 day ago BP said in February that it aims to become a net-zero company by 2050 or sooner, and increase the proportion of investment into non-oil and gas 

8 Oct 2019 Wind Energy Moves Destruction Bay Toward a Renewable Future “It's natural for Big Oil companies to start to invest much more in shale,  1 day ago BP said in February that it aims to become a net-zero company by 2050 or sooner, and increase the proportion of investment into non-oil and gas  18 Jan 2020 But when Repsol, a Spanish oil company, said in December it would reduce the net carbon As well as project risk, it involves assessing the attitude of investors, In Europe renewable energy prompted something almost as  27 Jan 2020 Microsoft, Google, Amazon – Who's the Biggest Climate Hypocrite? learning and other AI technologies to oil companies like BP, Shell and others. Data center companies must invest in renewable energy projects in the  6 Mar 2020 of yet, no European major invests above 10 per cent of its total spending on renewable energy. All the world's oil majors still plan investments  The old school of thought was that high oil prices made renewable energy more we have the opportunity of a lifetime to shift needed investment into clean energy. Because Big Oil companies are hemorrhaging at the wells and laying off 

3 Jul 2019 The intrigue: The energy transition is a challenge for companies, as the are in what's broadly described as "new energies," including renewables. They looked at 200 VC investments by the largest oil companies, and new 

15 Oct 2019 For now, major oil companies believe the market will still reward profitable They represent 80% of new investment in the renewables sector and the cost of That includes buying power from renewable energy sources. 4 Jun 2018 From investing in solar panels to designing genetically engineered algae, the world's largest oil companies are serious about renewable  4 Sep 2019 In response, Europe's big oil companies including Shell, BP and Total are In contrast, renewable energy and electricity lie outside the core  31 Oct 2019 Each oil company will address climate change pressures in its own way. Some with resources to develop in-house renewable energy expertise  to invest in renewable energy? The question is: why would investments in. renewable energies be important for profit-oriented. oil and gas companies  30 Sep 2019 More than 40 years ago, oil companies invested in solar research and Renewable energy has gotten so cheap that even oil giant Exxon Mobil, these early, critical investments in solar technology laid a foundation for what 

8 Oct 2019 Wind Energy Moves Destruction Bay Toward a Renewable Future “It's natural for Big Oil companies to start to invest much more in shale,  1 day ago BP said in February that it aims to become a net-zero company by 2050 or sooner, and increase the proportion of investment into non-oil and gas  18 Jan 2020 But when Repsol, a Spanish oil company, said in December it would reduce the net carbon As well as project risk, it involves assessing the attitude of investors, In Europe renewable energy prompted something almost as  27 Jan 2020 Microsoft, Google, Amazon – Who's the Biggest Climate Hypocrite? learning and other AI technologies to oil companies like BP, Shell and others. Data center companies must invest in renewable energy projects in the  6 Mar 2020 of yet, no European major invests above 10 per cent of its total spending on renewable energy. All the world's oil majors still plan investments  The old school of thought was that high oil prices made renewable energy more we have the opportunity of a lifetime to shift needed investment into clean energy. Because Big Oil companies are hemorrhaging at the wells and laying off 

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