Oil Majors Rethink Their Renewable Energy Ambitions

Oil Majors Downscale Their Renewable Ambition - One of the key trends in oil major strategies this year has been the notable divestment of renewable projects, at times even reversing climate commitments amidst shaky non-fossil energy economics.      - UK major BP which previously had committed to a 20-fold growth in renewable power buildout to 50GW, spun out its offshore wind projects into a JV with Japan’s JERA whilst Shell stopped new investments into wind.  - The return of Donald Trump to the Oval Office in January…