Oil and Gas Sector Strategies for Electric Vehicles (EV)

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Oil and Gas Sector Strategies for Electric Vehicles (EV) Market Overview

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. The Oil and Gas Sector Strategies for EV market research report provides an outlook of EV sales by country/region.

O&G companies in Europe BP, Shell, Polish IOC Orlen, TotalEnergies, Eni, Repsol
O&G companies in North America ExxonMobil, Suncor Energy, and Chevron
E&G companies in Asia & Oceania Mitsui & Co Ltd (Mitsui), Hindustan Petroleum Corp (HPCL), Woodside Petroleum
Petroleum Products Sector Transportation, Petrochemical Feedstocks, International Bunkers, Industrial, and Residential
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EV Strategies of O&G Companies in Europe

The major O&G companies in Europe are BP, Shell, Polish IOC Orlen, TotalEnergies, Eni, and Repsol among others.  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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EV Strategies of O&G Companies in North America

The major O&G companies in North America are ExxonMobil, Suncor Energy, and Chevron among others. 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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EV Strategies of O&G Companies in Asia and Oceania

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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Petroleum Products Demand by Sector

Some of the sectors are transportation, petrochemical feedstocks, international bunkers, industrial, and residential. Transportation represents the largest share of oil demand. A post 2020 rebound in petroleum demand is projected to continue for several years, mainly driven by the transportation sector. Despite the rebound, demand will only return to 2019 levels by 2026, and continue increasing thereafter.

Petroleum Products Demand by Sector (mbd)

Petroleum Products Demand by Sector (mbd)

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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

Fiat Chrysler
Volkswagen Group
PSA Group
BMW Group
Daimler
Volvo
Hyundai Motor Group
Renault Group
Shell
TotalEnergies
BP
Mitsui
Eni
Repsol
Woodside
Chevron
Suncor Energy
ExxonMobil
Hindustan Petroleum
OMV
Orlen

Table of Contents

EV Sales Outlook

EV Sales by Country/Region

Auto Manufacturers’ Targets

Country Policies on EV Integration

EV Sector Signals

Petroleum Products Demand Outlook

Driving Factors of the EV Shift

Ways for O&G Companies to Enter Automotive Value Chain

EV Sector Involvement of O&G Majors

EV Charging Units Developed by O&G Majors

Specific Strategies of O&G Majors by Region

Table

Table 1: Policies, incentives and regulations supporting electric and hydrogen fuel cell vehicles

Table 2: O&G company strategies matrix

Table 3: Electric vehicle charging units operated by O&G companies

Figures

Figure 1: What is CCUS

Figure 1: Projected sales of EVs, PHEVs and FCEVs to 2036

Figure 2: Leading Countries and Regions in Growth of EVs and PHEVs Sales

Figure 3: Leading Countries and Regions in Growth of Hydrogen Fuel Cell Vehicles

Figure 4: Auto manufacturers’ sales targets for EVs, 2020 – 2030

Figure 5: Deals trends

Figure 6: Company filings

Figure 7: Hiring trends

Figure 8: News count

Figure 9: Petroleum Products demand by sector

Figure 10: Factors contributing to a decline in fossil fuel light vehicle sales

Figure 11: Potential for O&G companies to enter automotive value chain

Figure 12: EV Strategies of O&G companies in Europe

Figure 13: EV Strategies of O&G companies in North America

Figure 14: EV Strategies of O&G companies in Asia and Oceania

Frequently asked questions

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