GLOBAL MONITOR THE BIG PICTURE: Oil and Gas Investments in Clean Energy Oil and gas (O&G) firms have entered the electricity value chain to boost their investments in low-carbon energy resources. Analysis from Capgemini's latest World Energy Markets Observatory report suggests O&G majors are making material moves in " upstream electricity generation " -offshore and onshore wind, solar PV, hydrogen electrolyzers, and hydropower-as well as in emerging technologies, such as battery storage and hydrogen. O&G renewable technology investments nearly tripled between 2017 and 2020 to reach 3.8% of overall investment, the report says. Still, the production capacity O&G historical players in these domains " remain marginal compared to historical players with less than 2%, " it notes. Source: 23rd edition of World Energy Markets Observatory (WEMO)/Capgemini. -Sonal Patel is a POWER senior associate editor. Estimated Clean Energy Investment by Oil and Gas Companies, 2015-2020 Other 10 12 14 16 2 4 6 8 Chevron Indian Oil Eneos CNOOC Suncor Eni Valero Galp Repsol BP SK Innovation Shell Equinor Total Clean Energy Portfolios in Large Oil and Gas Companies* (*in operation in 2021) Segment Total capacity held by O&G companies/Total world capacity) Offshore wind (14 GW / 34 GW) Onshore wind (10 GW / 700 GW) Solar PV Battery Storage (10 GW / 707 GW) (1 GW / 24 GW) Hydrogen electrolyzer (5.8 GW / 180 GW) Hydro (1.1 GW / 1,331 GW) BP ChevronCNOOC Eni Equinor Galp Orsted PetronasRepsol Shell Total Energies 8 www.powermag.com POWER | June 2022 USD Billion 2015 2016 2017 2018 2019 2020http://www.powermag.com