2020 was a turbulent year for the energy sector, which was already on the brink of significant disruption. Oil prices fell to a 17-year low in March as the COVID-19 pandemic crippled global demand for energy amid a market already strained by the ongoing Russia-Saudi Arabia oil price war.
The pandemic served as a catalyst for the shift from fossil fuels to renewables and low carbon energy sources. As a result, 2020 saw a surge in global M&A activity in the renewables sector, with a diverse group of investors including oil majors, private equity, and infrastructure funds all competing for the same assets.
Hogan Lovells activities
Our Energy and Natural Resources industry sector authored articles on a range of topics, including navigating distress and insolvency in the oil and gas industry, sustainable mining, the move to a low carbon energy future, electric vehicles (EV) infrastructure, and the impact of the Biden administration on the sector.
We collaborated with our Mobility and Transportation Industry Sector Group to take part in an EV Infrastructure Summit, focusing on the opportunities and challenges involved in establishing charging infrastructure as part of the transition to zero emission vehicles.