{"id":133702,"date":"2021-04-23T15:30:24","date_gmt":"2021-04-23T12:30:24","guid":{"rendered":"https:\/\/www.enerjigazetesi.ist\/?p=133702"},"modified":"2021-04-23T15:43:27","modified_gmt":"2021-04-23T12:43:27","slug":"yenilenebilir-enerji-petrol-ve-gaz-harcamalarini-yakalama-yolunda","status":"publish","type":"post","link":"https:\/\/www.enerjigazetesi.ist\/en\/yenilenebilir-enerji-petrol-ve-gaz-harcamalarini-yakalama-yolunda\/","title":{"rendered":"Global Spending on Renewable Energy to Hit $243 Billion in 2021"},"content":{"rendered":"

<\/p>\n

Global Spending on Renewable Energy to Hit $243 Billion in 2021, 22% Lower than Oil and Gas Spending.<\/strong><\/h1>\n

Capital spending<\/strong> on renewable energy<\/strong> is in a period of robust growth<\/strong> and is on track to catch up<\/strong> with oil<\/strong> and gas<\/strong> spending.<\/p>\n

\"\"According to the research data analyzed<\/strong> and published by ComprarAcciones.com<\/a>, spending on renewable energy will rise by 8.5%<\/strong> in 2021<\/strong> to $243 billion<\/strong>. In contrast, spending on oil and gas will grow by a mere 1.6%<\/strong> to $311 billion<\/strong>. Renewable energy spending will thus be only 22%<\/strong> lower than the oil<\/strong> and gas<\/strong> capital expenditure (capex).<\/p>\n

The world\u2019s largest oil company\u00a0Saudi Aramco<\/strong>, projected its total 2021<\/strong> capex at $35 billion<\/strong>, $10 billion<\/strong> lower than previous estimates. According to its earnings report for 2020<\/strong>, the company posted a 44.4%<\/strong> profit decline in 2020.<\/strong><\/p>\n

Exxon Mobil Slashes 2021 Capex by $16 Billion, Chevron by $8 Billion<\/strong><\/h2>\n

The spending gap<\/strong> between renewable energy<\/strong> companies and oil<\/strong> and gas companies<\/strong> has been narrowing in recent years.<\/p>\n

In 2019, oil and gas companies spent a collective $422 billion<\/strong>. Comparatively, renewables<\/strong> only spent $177 billion.<\/strong> Similarly, the former spent $306<\/strong> billion in 2020<\/strong>, while the latter spent $224 billion.<\/strong><\/p>\n

In the period between 2019 and 2021, spending on upstream oil and gas has declined by a 15%<\/strong> compound annual growth rate (CAGR). Risky market conditions amplified the situation in 2020.<\/strong> According to Rystad\u2019s analysis, businesses in oil and gas suffered a 23%<\/strong> year-over-year (YoY) revenue drop. In contrast, those focused on wind<\/strong> and solar energy<\/strong> grew sales by 18%.<\/strong><\/p>\n

For Saudi Aramco, profit declined from $88.2<\/strong> billion in 2019 to $49 billion<\/strong> in 2020. It is, however, optimistic expecting it to return to pre-pandemic levels by the end of 2021. Its capital expenditure for 2020<\/strong> declined by 18%<\/strong> from $32.8 billion<\/strong> to $27 billion<\/strong>. It joins a throng of world oil majors planning to cut costs significantly in 2021.<\/strong><\/p>\n

Exxon Mobil<\/strong> announced plans to keep annual spending at $19 billion<\/strong> or less. Previously, it had estimated $35 billion<\/strong> in annual capex. Chevron also projected its total expenditure at $14 billion<\/strong> to $16 billion<\/strong> through 2025<\/strong>, down from a previous estimate of $22 billion.<\/strong><\/p>","protected":false},"excerpt":{"rendered":"

Global Spending on Renewable Energy to Hit $243 Billion in 2021, 22% Lower than Oil and Gas Spending. Capital spending on renewable energy is in a period of robust growth and is on track to catch up with oil and gas spending. According to the research data analyzed and published by ComprarAcciones.com, spending on renewable […]<\/p>\n","protected":false},"author":17,"featured_media":133714,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[46,51,53,49,44,50],"tags":[89588,89580,51789,77707,79148,23311,3032,10597,53157,77706,69340,89587,1114,42477,89589,53282,18200,42867,44047,89586,89590,78344,105,46567],"views":194,"_links":{"self":[{"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/posts\/133702"}],"collection":[{"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/comments?post=133702"}],"version-history":[{"count":5,"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/posts\/133702\/revisions"}],"predecessor-version":[{"id":133718,"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/posts\/133702\/revisions\/133718"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/media\/133714"}],"wp:attachment":[{"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/media?parent=133702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/categories?post=133702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/tags?post=133702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}