Energy Majors Make Moves Toward Renewables—Again

“Could renewables be the Majors’ next big thing?” That’s the provocative question raised in a white paper by Wood MacKenzie, a research and consultancy group, promoted through its subsidiary, Greentech Media. A few years back, the major oil and gas companies had small but active units dedicated to renewable energy sources. When oil reached $100 a barrel, these exploratory departments went quiet. Now, as the rapid growth of wind and solar power radically reshapes energy markets, Big Oil is getting back into the renewables game. Whether the Majors are “leading the way in shaping strategies to capture a piece of the action” as the paper claims may be a stretch, but there’s clearly some movement away from a sole focus on fossil fuels and towards renewables. Read the details here

John Howell, Editorial Director

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