By 2025, the group’s total energy production is set to slip to 2.5% and total sales are set to decline to 7.9% of global energy demand. Within the mix, the share of renewables and low-carbon energy will grow to 5%, partially offsetting a decline in oil and gas production.
JPMorgan analyst Christyan Malek said that while Big Oil firms will continue providing a significant part of the world’s energy, the supply will fall short of the expected growth in demand.

“Over the long term their energy supply is below global demand trends and risks exacerbating a widening global shortfall if they continue to focus on shareholder returns and decarbonisation over investment,” Malek told Reuters.
Source: Reuters (Reporting by Ron Bousso; Editing by Jan Harvey)