Petrochemicals and alternative energy: competition or cooperation?
With the growing popularity of renewable energy sources, the petrochemical industry is adapting to the new realities. Many companies are betting on hybrid strategies:
Development of synthetic fuels that can replace conventional fuels.
Production of hydrogen as an alternative energy carrier.
Development of biofuels and other sustainable petroleum products.
Investing in solar and wind power as part of business diversification.
The future of the energy sector is not likely to be limited to one technology, but will be a combination of hydrocarbon and renewable energy sources.