Oil and gas majors stay cautious on renewables despite strong long-term growth

Oil and gas firms remain cautious on renewable investment despite growing clean energy ambitions.Renewables are expected to supply more than 40% of global electricity generation by 2030, according to new analysis from GlobalData, as oil and gas companies continue balancing clean energy ambitions with financial and regulatory pressures.GlobalData’s latest Strategic Intelligence report, “Renewable Energy in Oil and Gas”, forecasts renewable power generation will rise from 7.4PWh