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Big Oil Is Investing Billions to Gain a Foothold in Clean Energy

The world’s biggest oil companies are closing more clean energy deals as pressure to diversify their businesses mounts and growth accelerates among green technologies. Oil majors more than doubled the number of acquisitions, project investments and venture capital stakes, to 44 in 2016 from 21 the year before, according to research published Tuesday by Bloomberg New Energy Finance. In the last 15 years, they’ve completed 428 transactions and spent $6.2 billion building stakes in clean energy companies.

Read more: bloomberg.com