article thumbnail

3 Oil Majors That Bet Big On Renewables

Green Car Congress

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.

Oil 418
article thumbnail

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%

Green Car Congress

Emerging economies accounted for all of the net growth, with OECD demand falling for the third time in the last four years, led by a sharp decline in Japan. World natural gas consumption grew by 2.2%, below average in all regions except North America where low prices due to the shale gas “revolution” drove robust growth. Renewables.

Coal 261
article thumbnail

War in Ukraine: We Need to Talk About Fossil Fuels

Cars That Think

All of this helps explain why, though sanctions aimed at prominent Russian individuals are merely symbolic, those targeting major banks are serious—and why there has been only a single direct move against Russia’s energy sector: the cancellation of the Nord Stream 2 gas pipeline. Consumption of E.U.-produced

Ukraine 119