Major oil companies like Equinor, BP, and Shell are shifting their strategies away from ambitious renewable capacity targets towards a focus on profitability and returns. Equinor has dropped its renewable capacity goals, while BP has increased investments in oil and gas and reduced transition spending. Shell is also scaling back its low-carbon initiatives in favor of liquefied natural gas and upstream production, reflecting a broader trend among oil majors to prioritize financial returns over renewable expansion.
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