Global oil companies are gradually moving towards new energy sources.

According to a report released by Peng She in early September, oil companies have concluded about 70 deals in solar, wind and biofuels since the beginning of this year. "Shareholder pressure, the constant development of new technologies and the rapid change in consumer preferences have prompted oil companies to reassess their long-term strategy and explore new business flows," said David Doherty, an analyst with Peng. Shell leads other oil companies in investing in clean energy. This year, Shell announced the acquisition of Greenlots, the U.S. electric vehicle charging and energy management technology company, Sonnen, the largest energy storage battery manufacturer in Europe, and Limejump, the British energy technology company, and the development of offshore wind energy resources in cooperation with Google's kite power generation project.

BP has established a worldwide sugar cane ethanol enterprise in Brazil, BP Bangji Bioenergy Company, in cooperation with Bangji Company. BP has also intensified its cooperation with Chinese companies in the field of advanced mobile travel. It has joined forces with 66 Fast Charging, Enjoyment Technology, Ulai Capital and Drip Travel to lay out the field of new energy vehicles in China. Total regards LNG business as a key driving factor for future performance. In April, Dodar signed the LNG project cooperation agreement with the Papua New Guinea government. It is expected that by 2035, natural gas will account for 60% of total energy production in Dodar. ExxonMobil and Chevron both have carbon capture layouts. Chevron has become an active investor in carbon capture. In August, Chevron launched one of the world's largest carbon capture and storage projects, injecting captured carbon dioxide into the deep reservoirs beneath an island off the coast of Western Australia.

Saudi Amy established its first hydrogenation station in Saudi Arabia early this year. The company also signed a memorandum of understanding with Hyundai Motors to build more hydrogen stations in Korea and to supply more hydrogen-powered vehicles to Saudi Arabia. Doherty said oil companies might invest more money in hydrogen fuels in the future.