Some major oil companies such as Shell and BP that once were touted as leading the way in clean energy investments are now pulling back from those projects to refocus on oil and gas production. Others, such as Exxon Mobil and Chevron, have concentrated on oil and gas but announced recent investments in carbon capture projects, as well as in lithium and graphite production for electric vehicle batteries.
National oil companies have also been investing in renewable energy. For example, Saudi Aramco has invested in clean energy while at the same time asserting that it’s unrealistic to phase out oil and gas entirely.
