CVX, BP, SHEL: Global Energy Investments to Hit Record $3.3 Trillion in 2025
Global energy investments are forecast to hit a record $3.3 trillion this year, with two-thirds of that money going towards clean technologies, according to a new report by the International Energy Agency (IEA).
Confident Investing Starts Here:
The IEA says that investors appear to be shrugging off economic and geopolitical uncertainty and continuing to put money to work in the energy sector. That said, oil spending is projected to fall this year for the first time since 2020.
The Paris-based IEA said in its annual investment report that the focus of investment dollars remains clean technologies, with $2.2 trillion going to renewable energy projects, nuclear power, grid upgrades, electrification, and low-emission fuels.
'Age of Electricity'
The agency added that 2025 is the year when the world will officially enter what it calls the 'Age of Electricity,' underpinned by rapid uptake of electric vehicles. Meanwhile, investments in oil, natural gas, and coal are likely to reach $1.1 trillion in 2025. The overall $3.3 trillion investment this year marks a 2% increase from 2024 levels.
The record spending is positive for both traditional oil and gas companies such as Chevron (CVX), British Petroleum (BP), and Shell (SHEL), as well as clean energy companies such as NextEra Energy (NEE) and battery maker Quantumscape (QS).
China is expected to be the largest energy investor, accounting for more than a quarter (25%) of total spending. And the solar sector is forecast to be the biggest recipient of the investment dollars, with $450 billion funneled to the industry this year.
Is CVX Stock a Buy?
The stock of Chevron has a consensus Moderate Buy rating among 18 Wall Street analysts. That rating is based on 10 Buy, six Hold, and two Sell recommendations assigned in the past three months. The average CVX price target of $159.50 implies 11.27% upside from current levels.
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