In 2021 and 2022, the global oil supermajors spent approximately 15 percent of their capital expenditure on renewable energy projects and 86 percent on oil and gas projects. Repsol was the company with the highest capital expenditure on renewables in 2021, at 28 percent. By comparison, the American companies Exxon Mobil, ConocoPhilips, and Chevron did not invest in renewables in 2022. Despite having goals of carbon emission reductions, the capex strategy of these companies does not seem aligned with the energy transition.
Percentage of global oil supermajors' capital expenditure on oil and natural gas versus renewables in 2021 and 2022
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Energy Monitor. (February 21, 2023). Percentage of global oil supermajors' capital expenditure on oil and natural gas versus renewables in 2021 and 2022 [Graph]. In Statista. Retrieved December 31, 2024, from https://www.statista.com/statistics/1368014/global-oil-supermajors-capital-expenditure-on-oil-and-gas-or-renewables/
Energy Monitor. "Percentage of global oil supermajors' capital expenditure on oil and natural gas versus renewables in 2021 and 2022." Chart. February 21, 2023. Statista. Accessed December 31, 2024. https://www.statista.com/statistics/1368014/global-oil-supermajors-capital-expenditure-on-oil-and-gas-or-renewables/
Energy Monitor. (2023). Percentage of global oil supermajors' capital expenditure on oil and natural gas versus renewables in 2021 and 2022. Statista. Statista Inc.. Accessed: December 31, 2024. https://www.statista.com/statistics/1368014/global-oil-supermajors-capital-expenditure-on-oil-and-gas-or-renewables/
Energy Monitor. "Percentage of Global Oil Supermajors' Capital Expenditure on Oil and Natural Gas versus Renewables in 2021 and 2022." Statista, Statista Inc., 21 Feb 2023, https://www.statista.com/statistics/1368014/global-oil-supermajors-capital-expenditure-on-oil-and-gas-or-renewables/
Energy Monitor, Percentage of global oil supermajors' capital expenditure on oil and natural gas versus renewables in 2021 and 2022 Statista, https://www.statista.com/statistics/1368014/global-oil-supermajors-capital-expenditure-on-oil-and-gas-or-renewables/ (last visited December 31, 2024)
Percentage of global oil supermajors' capital expenditure on oil and natural gas versus renewables in 2021 and 2022 [Graph], Energy Monitor, February 21, 2023. [Online]. Available: https://www.statista.com/statistics/1368014/global-oil-supermajors-capital-expenditure-on-oil-and-gas-or-renewables/
