Related Articles
Forward article link
Share PDF with colleagues

Frustrated investors push for a greener Big Oil

The supermajors have fallen on hard times - costs have surged, output has fallen. Investors have grown frustrated by low returns and high oil prices have not proven to be the remedy they had hoped. What comes next?

Since the end of the financial crisis, high oil prices have fuelled a spending binge on multi-billion dollar megaprojects, deep-water drilling programmes and Arctic adventures as the supermajors have scrambled to secure new resources. ExxonMobil, Shell, Chevron and BP, the West's four largest oil companies, spent a staggering $686 billion from 2008 to 2013, with annual investment levels rising by about 50% over the same period. Quarter after quarter, executives told investors that the increased spending would unlock new supplies and profits, but total oil and gas production from the four largest companies actually fell more than 3% from 12.6 million barrels of oil equivalent a day (boe/d) i

Also in this section
Morocco's renewables revolution
19 October 2017
The kingdom is expanding its use of solar and wind power rapidly through research and innovation, say Badr Ikken General Director of the Research Institute for Solar Energy and New Energies of Morocco (IRESEN) and Zakaria Naimi, its Director of Photovoltaic and Electric Systems
Solar PV growth outpaces all other fuels — and will continue to grow
11 October 2017
Renewables broke new records in 2016, largely as a result of booming solar photovoltaics (PV) deployed in the People’s Republic of China, according to the International Energy Agency (IEA)
The other damaging glut
2 October 2017
Emissions-trading systems have suffered from an oversupply of permits. Regulators are trying to fix that and show the mechanisms can still work