European oil and gas giants are scaling back their clean energy ambitions due to limited growth opportunities and weak market demand. Equinor has scrapped its pledge to invest over 50% of capital in renewables, abandoned Vietnam’s offshore wind sector, and canceled a hydrogen pipeline project to Germany. Similarly, Shell has halted new offshore wind investments and dropped a low-carbon hydrogen plant in Norway, prioritizing profitability over aggressive green energy expansion.
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Source: Oilprice.com
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