Preparing for a Future of Low Carbon Energy: Renewable Energy Projects of Oil and Gas Companies

Laman Mammadzada () and Wet Abuse ()
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Laman Mammadzada: The Bucharest University of Economic Studies, Romania
Wet Abuse: The Bucharest University of Economic Studies, Romania

International Conference on Competitiveness of Agro-food and Environmental Economy Proceedings, 2016, vol. 5, 271-275

Abstract: Oil and gas companies are among the largest organizations in the global economy have the possibility to influence important economic and social processes. The future of these companies could look unfavorable since the role of fossil fuels will be much less important than today. Such future is considered a must in order to prevent disastrous impacts of climate change, but also for securing a safe energy supply. In this context, we explored at what extent oil and gas companies are interested in renewable energy projects by searching for this type of activity in their business portfolio, identifying the types of renewable projects and their size. The findings confirm some previous results, especially the focus of oil and companies on biofuels. Other renewables of interest are power plants based on solar, geothermal, and wind energy. The strategy of these companies for a low carbon future might also include investments on the capital market that further needs to be explored for a better understanding of how these important actors are adapting to the requirements of sustainable development.

Keywords: Renewable energy; clean energy; oil and gas companies; investment (search for similar items in EconPapers)
Date: 2016
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