"Irreversible decline": How EVs and renewables could soon kill off a huge chunk of oil demand

Michael Holder
clock • 6 min read

Renewables and EVs on course to replace 40 per cent of demand for oil in next 25 years, according to new BNP Paribas analysis

Oil companies are engaged in a "race against time" to guard against a huge 40 per cent chunk of their business disappearing over the next 25 years, as declining renewables costs and rising demand for electric...

To continue reading this article...

Join BusinessGreen

  • Enjoy exclusive news, insights and analysis from Europe’s leading source of information on the green economy and business.
  • Make smart, responsible business decisions with an eye on the latest regulatory and tech development
  • Tap into our extensive archive of exclusive articles, news, analysis and guide
  • Access to our new BusinessGreen intelligence service, providing you with
  • > Exclusive in-depth case studies
  • > Policy briefings, white papers and reports on market trends that are shaping the direction of the net zero transition
  • Our overnight briefing, expertly curated help you run a competitive and sustainable business
  • Online and interactive meetings with BusinessGreen’s editors to discuss the crucial stories and trends from the past month

Choose from 3 paid membership levels or start a 7-day no strings trial.

Join nowTry 7 day trial

 

Already a BusinessGreen member?

Login

More on Energy

Credit: iStock

IEA boss urges oil and gas industry to 'commit to genuinely helping the world'

Producers must decide whether to commit to green investment and climate goals, or continue a high-risk business as usual strategy, IEA warns

Cecilia Keating
clock 23 November 2023 • 5 min read
'Time for politicians to catch up': Ovo boss calls for more political support for climate goals

'Time for politicians to catch up': Ovo boss calls for more political support for climate goals

Four out of five households want to make their homes more efficient, according to consumer research from the energy giant

Cecilia Keating
clock 22 November 2023 • 2 min read
Credit: West Midlands Gigafactory

'Gigafactory gap' threatens to put brakes on EV industry, MPs warn

Failure to invest in battery manufacturing could stifle UK automotive industry, House of Commons Committee report claims

Stuart Stone
clock 21 November 2023 • 4 min read