Oil Industry Eyes Renewable Energy for Future Growth

GALWAY, IRELAND--June 20, 2017--Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--Oil and gas majors may be committing up to a fifth of their total investment in green energy projects after 2030 as hydrocarbons production declines. A growing number of key oil and gas players are starting to invest in renewable energy projects but analysis from Wood Mackenzie Limited (Edinburgh, Scotland) suggests that major energy companies like Royal Dutch Shell plc (NYSE:RDS-A) (The Hague, Netherlands), Total S.A. (NYSE:TOT) (Paris, France), BP plc (NYSE:BP) (London, England) and Statoil ASA (OSE:STL) (Stavangar, Norway) among others will invest hundreds of billions of dollars in wind, solar and energy storage projects in the coming decades.

Within this article: Details increased future investment by oil and gas majors into faster growing green energy sector, current green investments