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3 Oil Majors That Bet Big On Renewables

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Further, according to Rystad Energy, Big Oil is expected to pump in $166B into new oil and gas ventures over the next five years, thus dwarfing the currently specified outlay of just $18B (less than 10% of capex) for solar and wind energy projects. Good case in point: Italian multinational oil and gas giant Eni S.p.A. 2 Total SA.

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BP Statistical Review finds global oil share down for 12th year in a row, coal share up to highest level since 1969; renewables at 2%

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Oil demand grew by less than 1%—the slowest rate amongst fossil fuels—while gas grew by 2.2%, and coal was the only fossil fuel with above average annual consumption growth at 5.4% Output grew rapidly in Qatar (+25.8%), Russia (+3.1%) and Turkmenistan (+40.6%), more than offsetting declines in Libya (-75.6%) and the UK (-20.8%).

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Sasol embarking on feasibility study on a US gas-to-liquids facility in Louisiana

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billion barrels of liquid fuels and chemicals from coal and natural gas. GTL fuels are virtually free of sulfur and aromatic compounds and reduce emissions of particulates, nitrogen oxides, carbon monoxide and other pollutants and will improve air quality. Earlier post.)

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