Renewable Energy in Oil and Gas - Thematic Intelligence
Summary
Transitioning to renewable energy seems like a logical path for oil majors due to growing pressures to decarbonize. Renewable power generation and biofuels are among the approaches adopted by oil and gas industry leaders to support the global energy transition. The industry can leverage its decade-long expertise in offshore operations, refining, retailing, and other such operations to strongly position itself in the renewables energy market. Leading oil and gas companies have gradually pivoted their business portfolio with increasing renewable energy investments.
Scope
- This report highlights the growing importance of renewable energy in the global energy mix and reviews involvement of oil and gas players in this space.
- It provides an overview of the competitive positions held by oil and gas players in the renewable energy theme.
- It identifies the various trends influencing the renewable energy theme.
- It alludes to technologies that have evolved to exploit the harvested renewable energy.
- It analyses the solar, wind power, and biopower value chains and identifies top players across different segments of the value chains.
- To understand the purview of renewable energy theme within GlobalData’s Energy Transition Framework.
- Identify the key industry, technology, macroeconomic, and regulatory trends impacting the renewable energy theme.
- Overview of technologies used to harness renewable energy.
- Understand the renewable energy value chain and the key players in it.
- Includes a snapshot of industry signals such as deals, patents, hirings, and company fillings related to renewable energy theme.
- Identify and benchmark key oil and gas companies; and oilfield and services companies based on their competitive positioning in the renewable energy theme.
- Executive Summary
- Players
- Technology Briefing
- Our energy transition framework
- Renewable energy sources
- Solar power
- Wind power
- Hydropower
- Geothermal power
- Tidal power
- Biofuels
- Trends
- Oil and gas trends
- Technology trends
- Macroeconomic trends
- Regulatory trends
- Industry Analysis
- 60% of the global power mix comes from fossil fuels
- Oil companies are strengthening their renewable energy portfolio
- Big oil is expanding into solar power projects
- Oil and gas companies leverage offshore expertise to develop wind power projects
- Government mandates galvanize oil and gas industries’ investments in biofuels
- Technologies beyond renewable sources
- Green hydrogen could be the next step through renewables
- Energy storage is critical for grid-scale renewable projects
- Renewable energy contracting activity among oil majors
- Timeline
- Signals
- M&A trends
- Venture financing trends
- Patent trends
- Company filings trends
- Hiring trends
- Value Chain
- Equipment manufacturers
- Engineering, procurement, and construction companies
- Utilities
- Companies
- Oil and gas companies
- EPC companies
- Sector Scorecards
- Integrated oil and gas sector scorecard
- Who’s who
- Thematic screen
- Valuation screen
- Risk screen
- Glossary
- Further Reading
- GlobalData reports
- Our Thematic Research Methodology
- About GlobalData
- Contact Us
- List of Tables
- Table 1: Oil and gas trends
- Table 2: Technology trends
- Table 3: Macroeconomic trends
- Table 4: Regulatory trends
- Table 5: Key M&A transactions associated with the renewable energy theme in the last four year
- Table 6: Key venture financing deals associated with the renewable energy theme in the last two years
- Table 7: Oil and gas companies
- Table 8: EPC companies
- Table 9: Glossary
- Table 10: GlobalData reports
- List of Figures
- Figure 1: Who are the leading oil and gas players in the energy transition theme?
- Figure 2: GlobalData’s thematic framework for the energy transition
- Figure 3: Solar photovoltaic cell
- Figure 4: Solar thermal power plant operation
- Figure 5: Solar CPV working
- Figure 6: Wind power plant working
- Figure 7: Hydropower plant working
- Figure 8: Geothermal power plant working
- Figure 9: Tidal power plant working
- Figure 10: Power generation from renewable energy sources is expected to grow at a CAGR of 7% until 2030
- Figure 11: The share of fossil fuels in global power generation is waning
- Figure 12: LCOE for offshore wind has the steepest fall from 2015 onwards
- Figure 13: The project cost of solar PV plants fell 51% between 2015 and 2022
- Figure 14: Solar power holds the pole position among active renewable capacities of oil and gas players
- Figure 15: European oil majors lead the renewable push
- Figure 16: Asia Pacific leads in renewable energy capacity by oil and gas players
- Figure 17: NextEra Energy leads the active solar power projects capacity
- Figure 18: TotalEnergies leads in active solar power project capacity among oil and gas companies
- Figure 19: Iberdrola leads the active wind power projects capacity
- Figure 20: BP and Shell lead in wind power capacity pipelines among oil and gas players
- Figure 21: The US has the most active and upcoming renewable refineries
- Figure 22: Oil and gas companies exploring biofuels amid a favorable regulatory environment
- Figure 23: BP leads oil and gas companies in enacting green hydrogen capacity
- Figure 24: TotalEnergies has a significant lead in energy storage capacity among oil majors
- Figure 25: Europe and North America saw the most renewable energy contracting activity between 2019-2022
- Figure 26: BP led the renewable energy contracting activity among oil and gas companies during 2019-2022=
- Figure 27: The renewable energy story
- Figure 28: Renewable energy-related M&A activity has grown in the last three years
- Figure 29: The acceleration of renewable energy-related venture capital financing activity started in 2021
- Figure 30: China leads the patent publication activity in the renewable energy theme
- Figure 31: EPC companies lead the patent filling activity in the renewable energy theme between 2011 and 2022
- Figure 32: Filling mentions for renewable energy theme has seen a nearly three-fold increase from 2016
- Figure 33: Hiring trends by oil and gas companies for renewable energy theme, January 2020-December 2022
- Figure 34: The renewable energy value chain - Solar power, wind power, biopower
- Figure 35: The renewable energy value chain - Equipment manufacturers
- Figure 36: The renewable energy value chain - EPC companies
- Figure 37: The renewable energy value chain - Utility owners
- Figure 38: Who does what in the integrated oil & gas companies’ space?
- Figure 39: Thematic screen
- Figure 40: Valuation screen
- Figure 41: Risk screen
- Figure 42: Our five-step approach for generating a sector scorecard
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