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| == Industry Overview & Market Opportunity == | | == Industry Overview & Market Opportunity == |
| The energy market plays a crucial role in the global economy, and its dynamics are shaped by a combination of factors, including technological advancements, policy changes, environmental concerns, and geopolitical developments.
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| The global energy outlook for 2023 indicates a significant focus on renewable energy growth, driven by the aim to enhance energy security and reduce carbon emissions. Renewable energy investments have been increasing rapidly compared to investments in fossil fuels, reflecting the shift towards cleaner energy sources.
| | * Analyse the current energy market, including trends, demand-supply dynamics, and regulatory factors. |
| | | * Identify the specific segment that Shell operates in. |
| Investment with clean energy segment has also experienced substantial growth, outpacing investments in fossil fuels. This trend is driven by improved economics, policy support, climate goals, and a focus on energy security. In 2023, it is estimated that over USD 1.7 trillion will be invested in clean energy, covering areas such as renewable power, nuclear energy, grids, storage, low-emission fuels, and efficiency improvements.
| | * Analyse the growth potential of the market segment. |
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| Oil Market: The oil market continues to be influenced by various factors. China's increasing demand for oil, driven by economic rebound and the easing of Covid-19 restrictions, is expected to have a significant impact on global oil prices. Other factors, including geopolitical tensions between Russia and Ukraine, and supply-demand dynamics, will continue to shape the oil market in 2023.
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| Renewable Energy Market: The electricity market is experiencing a notable shift from fossil fuels to renewable energy sources. Investments in solar and wind power are increasing, driven by the need to reduce carbon emissions and the declining costs of renewable technologies. This transition is crucial for achieving climate goals and ensuring a sustainable energy future.
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| Electric Technological Advancements: The growing electrification trend, driven by advancements in electric vehicles, heat pumps, and other technologies, is reshaping energy demand patterns. Energy intensity on the demand side is expected to decrease due to technological advancements and increased energy efficiency measures.
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| It is important to note that the energy market is dynamic and subject to various influences and uncertainties. Ongoing developments in technology, geopolitical events and their corresponding policies, and environmental concerns will continue to influence the future of the energy market, driving the transition towards more sustainable and cleaner energy sources.
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| == Operations == | | == Operations == |