‘Oil and gas majors to divert cash to renewables’: WoodMac

http://bit.ly/2tbDqr1

‘Oil and gas majors to divert cash to renewables’: WoodMac

Major
oil
and
gas
companies
are
increasingly
expected
to
divert
capital
from
their
upstream
operations
to
build
positions
in
wind
and
solar
sectors,
as
players
see
“opportunities”
in
the
renewables
energy
business,
according
to
analysts
at
consultancy
Wood
Mackenzie.

In
its
latest
report,
Could
renewables
be
the
Majors’
next
big
thing?,
WoodMac
said
renewable
energy
sources
pose
“a
threat
to
legacy
oil
and
gas
operations,
but
(are)
also
an
opportunity
to
diversify
and
future-proof
portfolios”.

“We
forecast
average
annual
growth

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