The oil and gas sector invested $33.4 billion in the energy transition last year. Yet while this figure suggests that decarbonization is a serious consideration for some fossil-fuel majors, just seven companies accounted for 85% of the sector’s low-carbon spend in 2024, and only 13 of 41 companies assessed raised low-carbon investment as a share of capex. So what are the different strategies oil and gas companies are pursuing when it comes to the energy transition? And why would a fossil-fuel company invest in clean tech in the first place? On today’s show, Tom Rowlands-Rees is joined by Claudio Lubis, an associate from BNEF’s downstream oil and chemicals team, to discuss findings from his note “Oil and Gas Energy Transition 2024: Clean Capex Jumps.”

Complementary BNEF research on the trends driving the transitions to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com

Links to research notes from this episode:

Oil and Gas Energy Transition 2024: Clean Capex Jumps - https://www.bnef.com/insights/36589

The oil and gas sector invested $33.4 billion in the energy transition last year. Yet while this figure suggests that decarbonization is a serious consideration for some fossil-fuel majors, just seven companies accounted for 85% of the sector&rsquo;s low-carbon spend in 2024, and only 13 of 41 companies assessed raised low-carbon investment as a share of capex. So what are the different strategies oil and gas companies are pursuing when it comes to the energy transition? And why would a fossil-fuel company invest in clean tech in the first place? On today&rsquo;s show, Tom Rowlands-Rees is joined by Claudio Lubis, an associate from BNEF&rsquo;s downstream oil and chemicals team, to discuss findings from his note &ldquo;Oil and Gas Energy Transition 2024: Clean Capex Jumps.&rdquo;
Complementary BNEF research on the trends driving the transitions to a lower-carbon economy can be found at BNEF&lt;GO&gt; on the Bloomberg Terminal or on&nbsp;<a href="https://www.bnef.com/">bnef.com</a>
Links to research notes from this episode:
Oil and Gas Energy Transition 2024: Clean Capex Jumps - <a href="https://www.bnef.com/insights/36589">https://www.bnef.com/insights/36589</a>

The future of energy, transport, sustainability and more, as told by BNEF analysts. Each week, Dana Perkins and Tom Rowlands-Rees sit down with BloombergNEF (BNEF) analysts to uncover the key findings and stories behind their latest research.

The future of energy, transport, sustainability and more, as told by BNEF analysts. Each week, Dana Perkins and Tom Rowlands-Rees sit down with BloombergNEF (BNEF) analysts to uncover the key findings and stories behind their latest research.

The future of energy, transport, sustainability and more from Bloomberg analysts

Switched On

How Big Oil Is Investing in the Energy Transition

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/dd44f38d-e2da-467d-936b-b2f90063e804/transcript

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