As the impact of COVID-19 pandemic rages all over the world, global oil demand has slumped to a 25-year low. The following production disputes between Saudi Arabia and Russia deepened the supply-side crisis and led to a historically low oil price of $24.88 /barrel in Mar.18th. However, even when all oil companies are cutting costs to improve the financial situation, their renewable energy businesses are mostly spared untouched. In this long report, I’m interested in seeing how those fossil fuel companies have embraced clean energy projects for the last decades and whether they can transit deeper toward carbon-free model in the darkest moment of the oil industry.
[ Contact me to get the pdf if you’re interested!]