Breakdown of oil supermajors capital expenditure worldwide 2021-2022, by energy type
In 2021 and 2022, the global oil supermajors spent approximately 15 percent of their capital expenditure on renewable energy projects and 86 percent on oil and gas projects. Repsol was the company with the highest capital expenditure on renewables in 2021, at 28 percent. By comparison, the American companies Exxon Mobil, ConocoPhilips, and Chevron did not invest in renewables in 2022. Despite having goals of carbon emission reductions, the capex strategy of these companies does not seem aligned with the energy transition.
