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Oil companies attending climate talks have minimal green energy transition plans, AP analysis finds
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Capuava oil refinery owned by Petrobras sits in Maui, on the outskirts of Sao Paulo, Brazil, Monday, Nov. 6, 2023. Petrobras specializes in deep water exploration, drilling and extraction. - photo by AP Photo/Andre Penner
In 2022, Brazilian oil and gas company Petrobras had 68 places staked out for oil exploration off the South American coast, searching for new reserves while spending $6.9 billion in oil development projects. About the same time, Algeria-based Sonatrach proclaimed its ambition to ramp up production to become a top five national oil company by 2030. And Abu Dhabi National Oil Co. opened 68 new gas stations in Saudi Arabia and the United Arab Emirates, noting in its 2022 annual report that there were now more than 500 across the UAE.