Oil and Gas Sector Strategies in Electric Vehicles
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Oil and Gas Sector Strategies in EV Report Overview
As the world races to meet net zero targets, both public and private sectors are having to find alternative solutions and invest in innovative technologies. The transportation sector accounts for a significant portion of the global energy use, leading to a hunt for alternative fuel solutions for sustainable mobility. A type of alternative fuel vehicle that has been growing rapidly is battery electric vehicles (BEVs), also referred to as EVs. The growth of EVs has resulted in the expansion of EV charging infrastructure, creating opportunities for many companies across multiple sectors.
The oil and gas sector strategies in the EV report provide an overview of CO2 emission rates by the transportation industry. It also offers an analysis of EV sales as a measure to decarbonize the transportation industry. In addition, the report also analyses the major oil companies expanding in EV charging technologies.
Leading Players (Operational Charging Stations) | · Shell
· TotalEnergies · BP · Eni |
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Oil and Gas Sector Strategies in EV
Oil and gas companies are facing financial, social, and political pressure to clarify their role in net zero transitions. For this purpose, they are diversifying their assets and investing in renewable energy technologies or low-carbon solutions. This will also help them maintain their revenues, as fuel demand continues to slow down.
Major oil companies have spoken about their intentions to grow their EV charging infrastructure. For instance, Shell and TotalEnergies share first place with over 55,000 operational charging stations, with equally ambitious plans to expand their network in the upcoming years. BP and Eni are close as they have a wide reach and have announced plans to expand their charging network.
Moreover, many companies have started investing in EV charging infrastructure but have a limited market share to date. This includes PKN Orlen, PETRONAS, CHEVRON, and PHILLIPS 66.
Leading players in Operational EV Charging Stations, 2024
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Oil and Gas Sector Scorecard
GlobalData Themes provides a wide overview of how individual companies are performing across multiple sectors (i.e.: themes) and ranks them according to their scores.
Oil and Gas Sector Scorecard
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Scope
- Overview of CO2 emission rates by the transportation industry.
- Growth of EV sales as a measure to decarbonize the transportation industry.
- Growth of EV sales leads to a need to expand EV charging infrastructure.
- Major oil and gas companies invest in EV charging infrastructure to match this need.
- Major oil and gas companies invest in EV charging infrastructure to diversify their assets due to a forecast decrease in fuel demand in the upcoming decade.
- Analysis of which major oil companies are expanding in EV charging technologies and which are not.
- Overview of the role smart grids play in EV charging infrastructure.
- Overview of which major oil companies are investing in smart grids for EV charging infrastructure.
Key Highlights
Global fuel demand is not set to return to pre-COVID-19 levels with growth becoming stagnant between 2025 to 2030.
Shell and TotalEnergies share first place with over 55,000 operational charging stations, with equally ambitious plans to expand their network in the upcoming years.
BP and Eni are just behind them, but still share a wide reach and have announced plans to more than double their charging network.
Not all big oil companies have decided to branch out into the EV charging space, with two companies specifically commenting that they will remain uninvolved with this technology: Exxon Mobile and Valero.
Shell and BP spent a fraction of their capex on clean energy investments and have signaled to the market that they are unlikely to pivot away from oil and gas any time soon. The following data helps gain perspective on how comparatively small the companies’ investments in sustainable technologies are, compared to fossil fuels.
Some of the major oil companies have been investing in EV charging infrastructure, with a total of 15 projects: 4 completed, 8 planned, and 3 under construction.
Reasons to Buy
- Identify the market trends of energy transition technologies within EVs, more specifically EV charging stations, as well as fuel demands in the upcoming decades.
- Develop market insight into current technology adoption rates within the oil and gas industry.
- Identify major oil and gas companies most active with investment and infrastructure expansion in EV charging technologies, as well as companies that are not expanding in this sector.
BP
TotalEnergies
Eni
Repsol
Pkn Orlen
Petronas
Chevron
Phillips 66
Exxon Mobil
Conoco Phillips
Valero
Equinor
Sinopec
Table of Contents
Table
Figures
Frequently asked questions
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Which are the key companies in the oil and gas sector with operational charging stations?
The key companies in the oil and gas sector with operational charging stations are Shell, TotalEnergies BP, and Eni among others.
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Which are the top companies in the oil and gas sector with operational charging stations?
Shell and TotalEnergies share first place with over 55,000 operational charging stations in the oil and gas sector.
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Why companies in the oil and gas sector are under pressure?
Oil and gas companies are under financial, social, and political pressure to clarify what role they intend to play in net zero transitions.
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