Renewable
Energies

Renewable Energies

Aside from their traditional oil & gas activities, many of our member companies invest into renewable energy sources and develop some of the largest low-carbon technology projects in the world.

Although these are the smaller part of our industry’s capital expenditure (CAPEX), the oil & gas industry’s investments in renewable energy and services (especially wind, solar, biofuels and batteries) have increased over time and are expected to continue doing so.

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(Source: IEA, The Oil and Gas Industry in Energy Transitions, 2020)

This expansion into the electricity, renewable energy and services activities has driven a number of our member companies to rebrand themselves into “energy companies” in order to reflect this change in their portfolio.

While many see the energy transition as a challenge to our sector, our companies are eager to seize the full breadth of opportunities it offers.

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