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Large oil companies sold 198 billion U.S. dollars in assets in 5 years

 Last Update: 2021-08-27
 Source: Internet
 Author: User

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According to a report by Bloomberg New Energy Finance (BNEF) on August 11, the world’s largest international oil company (IOC) sold more than US$198 billion in assets between 2015 and 2020, which is the fourth largest investment in clean energy technology.
Times more
.

Proceeds from the sale of assets are used to invest in new fossil fuel projects, repay debts or pay dividends
.

Earlier, oil prices were weak, falling from a high of nearly 115 U.

European international oil companies are clearly different from their American counterparts
.

Statoil (Equinor) is the only company whose clean energy investment exceeds the proceeds from asset sales

Although ExxonMobil, Chevron and ConocoPhillips have high asset sales, their total investment in clean energy is only US$757 million, accounting for only 1% of the divestment proceeds
.

Most of the assets sold are located in Europe, which indicates that investor and policy pressures may push international oil companies to make a decision to sell assets

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