energy transition

Oil companies and clean energy

Mar, 08/04/2020 - 13:53 -- anegrete

The economic crisis, the collapse of oil prices and the change in the energy matrix pose a danger to the oil industry. Low profitability is putting pressure on the big oil companies to change their energy production, and the environmental cost of the sector is gigantic.

The large global oil companies have begun to look at clean energy as a business alternative, as well as to recognize the need to seek new ways of profitability and to maintain the environment.

However, the evidence that the oil industry's efforts to enter green energy are not enough. The disproportion is still great if one compares the total investment with that invested in clean energy, which is greater than 20%.

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