Fossil fuels to low-carbon: Time to diversify?



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Report summary

In recent weeks, we have seen a series of material low-carbon investments from some of the world’s largest fossil fuel companies. ExxonMobil is investing in carbon-capture fuel cells, Statoil continues its push into offshore wind and Total has bought a battery company to “accelerate its development in renewable energy and electricity”. But fossil fuel companies have tried moving into low-carbon energy before, only to be disappointed. Take for instance, BP’s attempt to progress “beyond petroleum” over 10 years ago. Why is this time any different? Wood Mackenzie looks at why oil, gas and coal companies are diversifying into clean energy – and how their low-carbon strategies are beginning to diverge.

What's included

This report contains

  • Document

    DiversifyIntoRenewables 15June.pdf

    PDF 2.82 MB

Table of contents

Tables and charts

This report includes 4 images and tables including:


  • Diverging corporate investment strategies
  • Global energy demand growth: 1995-2015 versus 2015-2035
  • Global power supply: zero-carbon versus fossil fuels
  • Year-on-Year Growth: zero-carbon fuels versus coal, oil and natural gas

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