Total, Shell, BP among oil producers making green energy deals in Q1

Evaluate Energy’s popular quarterly M&A report has expanded in Q1 to include a review of green and renewable energy sector deals by companies historically associated with oil and gas production.

“With the energy transition in mind, traditional E&P companies are heavily engaged in deal-making for renewable projects these days in order to diversify portfolios,” said Mark Young, report co-author and senior oil and gas analyst at Evaluate Energy.

“Over the past few years, it has been European producers leading the way in this regard, and Q1 2021 was no different. Total, Shell, BP, Eni and PKN Orlen all feature in our report thanks to deals covering the wind, solar and electric vehicle sectors and more.”

To date, Europe’s largest oil and gas producers have dealt with far greater and more consistent investor pressure than any North American counterpart to address their carbon usage, announce their emissions targets and invest in greener sectors, Young said.

“It has been fascinating to watch these companies and other oil producers respond to this pressure by branching out into every conceivable corner and pocket of the wider energy market over recent months and years. It’s only going to increase, too, as carbon goals are becoming more and more important over time in the eyes of investors and regulatory bodies around the globe.

“By expanding our report, we are making it easier to track all of this movement as greener energy industries really start to take off.”

Included this quarter:

  • Total agrees solar deals in the U.S. and India
  • Shell adds offshore wind assets in two European deals
  • Green energy sector activity review for BP, Eni, PKN Orlen
  • The report also includes the usual rundown of this quarter’s major upstream oil and gas deals

Download the latest M&A report at this link.

Each quarter, we will be selecting several E&P companies with renewable energy deals to highlight, as oil producers look to diversify portfolios to navigate the energy transition.

Evaluate Energy’s M&A data includes all deals in the green energy and renewable power sectors. For more on our power deals, click here.

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