Oil and Gas Sector Strategies for Electric Vehicles (EV)
As electric vehicle sales grow, many oil and gas companies are diversifying into the electric transport sector. China and Europe are expected to have the largest battery EV markets in the coming 15 years. Fuel cell electric vehicles are expected to grow as well, but to a much smaller degree in the passenger vehicle segment. Several auto manufacturers have set targets for EV sales and allocated funding toward electrification, in tandem with goals from 18 countries to completely end sales of gasoline and diesel passenger vehicles. Rebounding demand for petroleum products is being dampened by the growing EV market. Oil and gas companies getting involved in the sector have invested in charging infrastructure, battery technologies, or hydrogen vehicle infrastructure.
What are the key EV strategies of O&G companies in Europe?
Some of the major O&G companies in Europe are BP, Shell, Polish IOC Orlen, TotalEnergies, Eni, Repsol. BP is aiming to expand its network of EV charge points by 2030. The company took its first major leap in the EV theme in 2018 with the acquisition of UK-based Chargemaster. Since then, it has been working to expand its network in Europe, the US and Asia.
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What are the key EV strategies of O&G companies in North America?
Some of the major O&G companies in North America are ExxonMobil, Suncor Energy, and Chevron. ExxonMobil’s EV strategy focuses on providing solutions to improve EV performance, such as EV battery thermal management. The company also is developing fluids (integrated E-motor fluids, reduction gearbox lubricants and specialty greases) that would extend EVs’ range and improve efficiency and performance of the vehicle.
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What are the key EV strategies of O&G companies in Asia and Oceania?
Some of the major O&G companies in Asia and Oceania are Mitsui & Co Ltd (Mitsui), Hindustan Petroleum Corp (HPCL), Woodside Petroleum. Mitsui & Co Ltd (Mitsui) is planning to expand its footprint in the EV ride-sharing automotive and public transportation industry and provide a whole value chain of EV business from manufacturing EV equipment and supplying battery packs to servicing ride-sharing public transport solutions.
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Market report scope
| Major O&G companies in Europe | BP, Shell, Polish IOC Orlen, TotalEnergies, Eni, Repsol |
| Major O&G companies in North America | ExxonMobil, Suncor Energy, and Chevron |
| Major O&G companies in Asia & Oceania | Mitsui & Co Ltd (Mitsui), Hindustan Petroleum Corp (HPCL), Woodside Petroleum |
 Scope
- Electric Mobility Outlook
- Causes and Effects of the EV shift
- O&G company Strategies and Involvement
Reasons to Buy
- Learn how oil demand will grow during this decade
- Learn how and where the EV market will grow during the next 15 years
- Understand the driving factors behind the EV push
- Understand the opportunities for O&G companies to enter the automotive value chain
- Learn specific strategies the O&G majors are taking to enter the EV space
Key Players
Table of Contents
List of Tables
List of Figures
Frequently Asked Questions
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