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August 3, 2023

Investors should bet on renewables over ‘unstable’ oil and gas, IEEFA says

Offshore gas platform_Statoil
The oil majors are now the poorest performers within the energy subsector, according to the IEEFA (Photo: Kristian Helgesen/Bloomberg)

A new study argues that the surge in oil and gas revenues brought about by the war in Ukraine is proof that investors should stay away from the sector.

Oil and gas ranked as the number one sector in the stock market in 2022, while oil and gas profits surged at the start of this year. But that is not enough to convince the Institute for Energy Economics and Financial Analysis that the sector is worth betting on. 

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