It is projected that major oil and gas companies will invest over 4.6 billion U.S. dollars in clean energy projects in 2021, with over half of this capital expenditure (2.7 billion U.S. dollars) being in offshore wind power generation. This is a sizable increase from the total investment of 3.7 billion found in 2020. However, to put this into perspective, this value amounted to less than 1.5 percent of total capital expenditure of these companies in 2020, while the projected increase would raise this to just over four percent. Moreover, these two years are the only times since 2015 that these companies have spent more than one percent of their capital expenditure on clean energy.
Amount invested in clean energy by major oil and gas companies worldwide from 2015 to 2021, by type of energy
(in billion U.S. dollars)
* 2021 annual data is estimated based on projects announced by May 9, 2021 and assumes that pace of investment will continue throughout the year.
** CCUS: carbon capture use and storage.
According to the source: "Companies included in this tracking are the Majors and selected others: ADNOC, CNPC (China National Petroleum Corporation), CNOOC, Equinor, Gazprom, Kuwait Petroleum Corporation, Lukoil, Petrobras, Repsol, Rosneft, Saudi Aramco, Sinopec and Sonatrach."
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Statista. (June 30, 2021). Amount invested in clean energy by major oil and gas companies worldwide from 2015 to 2021, by type of energy (in billion U.S. dollars) [Graph]. In Statista. Retrieved November 22, 2024, from https://www.statista.com/statistics/1269798/clean-energy-investments-major-oil-gas-companies/
Statista. "Amount invested in clean energy by major oil and gas companies worldwide from 2015 to 2021, by type of energy (in billion U.S. dollars)." Chart. June 30, 2021. Statista. Accessed November 22, 2024. https://www.statista.com/statistics/1269798/clean-energy-investments-major-oil-gas-companies/
Statista. (2021). Amount invested in clean energy by major oil and gas companies worldwide from 2015 to 2021, by type of energy (in billion U.S. dollars). Statista. Statista Inc.. Accessed: November 22, 2024. https://www.statista.com/statistics/1269798/clean-energy-investments-major-oil-gas-companies/
Statista. "Amount Invested in Clean Energy by Major Oil and Gas Companies Worldwide from 2015 to 2021, by Type of Energy (in Billion U.S. Dollars)." Statista, Statista Inc., 30 Jun 2021, https://www.statista.com/statistics/1269798/clean-energy-investments-major-oil-gas-companies/
Statista, Amount invested in clean energy by major oil and gas companies worldwide from 2015 to 2021, by type of energy (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1269798/clean-energy-investments-major-oil-gas-companies/ (last visited November 22, 2024)
Amount invested in clean energy by major oil and gas companies worldwide from 2015 to 2021, by type of energy (in billion U.S. dollars) [Graph], Statista, June 30, 2021. [Online]. Available: https://www.statista.com/statistics/1269798/clean-energy-investments-major-oil-gas-companies/