Big Oil’s Foray Into Green Energy Creates Highly Competitive Market ...Middle East

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Big Oil’s Foray Into Green Energy Creates Highly Competitive Market
source : OILPRICE ( Middle East ) () 17
The increased investments of international oil majors in renewable energy projects are diminishing the returns of the pure clean energy firms, especially combined with a surge in raw material prices this year, executives tell Bloomberg. For example, Equinor wants to be a big name in offshore wind, and Norway’s major bid for offshore wind acreage in the major ScotWind leasing round last month. So did BP and Shell. Members of the Big Oil club are now competing among themselves and with the pure renewables players for wind and solar tenders…

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