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Oil and gas companies are forging their own energy transition pathways by investing in technology, programs and partnerships to accelerate the shift to green and renewable energy, according to leading data and analytics company GlobalData.
Barbara Monterrubio, Senior Energy Transition and Hydrogen Analyst at GlobalData, commented: “As oil and gas companies reposition themselves as energy companies, and service providers across the value chain look for new revenue streams, major players in this sector Participants understand the potential of a relatively new target market.
Low Carbon Hydrogen Strategy
Several major economies have outlined low-carbon hydrogen strategies, paving the way for a shift to clean energy. As a result, leading international oil companies (IOCs) are restructuring their operations to adopt new energy transition technologies such as low-carbon hydrogen and become integrated energy providers, she said.
Some companies have moved faster and more decisively than others and are now increasing their investments in primary green hydrogen production. This is due to their decarbonization commitments and the potential benefits they will reap from the predicted growth of the hydrogen economy in the future.
On Thursday, December 1, 2022, GlobalData’s energy team will host a webinar on energy transition strategies for oil and gas companies. — trade arab news agency
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