Oil companies still invest in pollutants, study says

Despite the growing demand for a migration to the green economy, which demands more sustainable power generation practices, oil giants continue to invest in polluting sources. That’s what a report released last September by Oil Change International (ICO), a U.S. oil institute that shows, major oil companies in the U.S. and Europe, are likely to grow oil production and carbon emissions by 2030. The study looked at The American Chevron and ExxonMobil and the European British Petroleum, Equinor, Shell, Repson, Eni and Total.

The report indicates that the presence of oil in the portfolios of these multinationals is growing, with the exception of Eni. ExxonMobil and Shell, for example, are expected to increase oil extraction by 52% and 22% over the next decade.

In Brazil, according to a study by FGV Energia, the projection by 2030 is for growth in oil production by at least 25%. The estimate is based on Petrobras’ business plan, which aims to focus investments in pre-salt oil in the Rio-São Paulo axis.

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