Orlen starts preparations global energy transformation
17:12
Polish fuel giant Orlen started preparations for the global energy transformation as the four largest European oil companies - BP, Shell, Orsted, and Equinor (formerly Statoil) had already taken actions. In total, they plan to invest in renewable energy sources about $50 billion by 2025.
The global energy transformation means the growing electrification of transport and a decline in the importance of fuels produced from crude oil. According to one of the scenarios prepared by the International Energy Agency, in Europe demand for oil will decrease by 1.8 percent annually and consequently will fall by 35 percent in 2040 compared to 2017.
Orlen's new strategy includes the development of alternative fuels infrastructure, development of the petrochemical sector, and investments in renewable energy sources.
