Total, BP lead charge in green strategic shift among global oil majors

Total, BP lead charge in green strategic shift among global oil majors

It comes down to whether they are focused on the product, or the customer. If the customer is demanding different kinds of energy, it should make sense to provide it, as long as the economics are there.This would have broader implications for petrochemicals supply and demand. If more oil companies prioritise green energy projects, viewing them as the future growth drivers, there may be less emphasis on building petrochemicals and polymers capacity.And with less transportation fuel demand, refining capacity could be cut, thereby reducing naphtha feedstock supply as well as aromatics and propylene co-product.Already, some traditional refineries are being converted to bio-refineries in Europe as well as in the US. In these cases, it is not just about swapping feedstock. Rather, overall