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Could renewables be the Majors' next big thing?

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Report summary

Wind and solar are poised to radically reshape energy markets. Though the timing of the energy transition is highly uncertain oil and gas companies need to build expertise balance and optionality to hedge against any future erosion of the upstream value proposition. The Majors are leading the way in shaping strategies as they look to capture a piece of the action in this fast growing market.

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    Could renewables be the Majors' next big thing?

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Table of contents

Tables and charts

This report includes 10 images and tables including:

Images

  • Total primary energy demand growth from 2015 to 2035
  • Renewables power market growth, 2015 to 2035
  • Evolution of real revenues from renewables and global oil and gas (base case and carbon constrained scenario)
  • Production profile for Majors if renewables' market share matches oil and gas by 2035
  • Capex needed for renewables' market share to match oil and gas by 2035
  • Cash flow from scaled-up offshore wind vs large upstream growth projects
  • Cash flow from scaled-up solar PV and onshore wind vs medium-sized upstream growth projects
  • Comparison of wind, solar and upstream IRRs*
  • Cash flow from base-case wind and solar projects

Tables

  • Main assumptions by project

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