WEMO24-Compiled Report-Interactive compressed (002) 4154-7882-8116 v.1 - Flipbook - Page 313
Market Data
Climate Data
ENERGY IN
THE REGIONS
HOME
Investments
FIGURE 12
Clean Energy investments in Oil & Gas Industry
Share of clean Energy investment in total investment & net
income in Oil and Gas Industry
Oil and gas industry investment in clean energy
Share of clean energy investment in total investment and net income
Billion $ (2023, MER)
FIGURE 11
30
6%
25
5%
20
4%
• Clean energy investment by oil and gas
companies grew to $28 billion in 2023 which is
less than 4% of overall capital spending and less
than 1% of net income
• 2023 oil and gas companies' investment into
clean energy is a 30% increase from 2022 levels.
This was well below the 65% jump seen from
2021 to 2022, re昀氀ecting in part the in昀氀ationary
environment and supply chain issues for some
renewable projects in the wake of the energy
crisis, as well as some recalibration of company
strategies.
3%
15
2%
10
1%
5
2016
2017
2018
2019
2020
2021
2022
2023
Solar PV
Wind
CCUS
Bioenergy
Energy storage
Low-emmission hydrogen
Source: IEA
2017
2018
Share of total capital
expenditure
2019
2020
2021
2022
Share of net income
2023
WEMO 2024
2015
2016
313
2015
