Oil and gas sector keeps faith in low-carbon energy: Survey

More than 70% of oil and gas executives expect to maintain or increase investment in low-carbon energy this year, a survey by an adviser to the industry showed on Tuesday.

Against the backdrop of uncertainty over oil prices and the global economy, less than half of respondents to DNV GL’s survey expect more large, capital-intensive projects to be approved this year, down from about two thirds last year.

However, the annual survey of more than 1,000 senior oil and gas professionals and executives also showed a jump in expectations for higher investment in areas that will give companies a long-term position in the transition to low-carbon energy.

Some 71% expect to increase or maintain investment in renewable energy, decarbonising oil and gas production and new low-carbon technologies, compared with 54% a year ago.

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