Japanese oil companies are scaling back decarbonisation initiatives, including hydrogen and ammonia projects, amid a global shift towards more stable and cost-effective fossil fuels.
The move reflects mounting concerns over energy security, U.S. policy risks, and rising material costs driven by inflation, all of which undermine project profitability and predictability.
Across the global energy sector, companies that had reoriented their portfolios to address climate change are increasingly refocusing on oil and gas, where returns have become more attractive following a rebound in fossil fuel prices from pandemic-era lows.
Full story Japan's oil refiners scale back decarbonisation efforts, refocus on fossil fuels | Reuters
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