Core Viewpoint - Acciona Energía has announced a significant asset sale agreement to sell its 49% stake in U.S. solar assets and 100% ownership of two wind farms in Mexico for approximately $1 billion, involving a total installed capacity of about 1.621 gigawatts [1] Group 1: Asset Details - The U.S. solar asset portfolio includes four large photovoltaic plants with a total capacity of 1.3 gigawatts, located in Texas, Illinois, and Ohio [1] - After the transaction, Acciona Energía will retain a 51% controlling interest in the U.S. solar assets and will be responsible for ongoing operations and management [1] - The company will fully divest from the El Cotijo and San Cruz wind farms in Tamaulipas, Mexico, which have a total capacity of 321 megawatts [1] Group 2: Transaction Timeline - The transaction is expected to be completed in the first half of 2026, pending regulatory approvals and the fulfillment of related conditions [1]

Core Viewpoint - The oil industry is undergoing a strategic shift from aggressive production growth to a focus on capital efficiency and shareholder returns, while still pursuing resource extraction behind the scenes [2][5]. Group 1: Strategic Shifts in Oil Companies - Major oil companies like BP and Shell are publicly committing to gradually reduce oil production over the coming decades, while U.S. firms like ExxonMobil and Chevron are emphasizing shareholder returns rather than aggressive expansion [2][3]. - Despite the narrative of "managed decline," companies are actively seeking to maximize the value of existing resources, with ExxonMobil consolidating assets in the Permian Basin and Chevron acquiring Hess to secure low-cost, long-lifecycle oil resources [2][3]. Group 2: Investment in Fossil Fuels vs. Renewables - Oil giants are advancing deepwater projects in Guyana, Brazil, and the Gulf of Mexico, which remain competitive despite stabilizing costs, and are expanding LNG investments, anticipating strong demand through at least 2040 [3]. - While companies are investing in renewable energy projects, these initiatives are often seen as diversification rather than core business, with higher return thresholds compared to oil and gas projects delaying capital reallocation [3][4]. Group 3: Human Resources and Industry Capabilities - The oil industry possesses a vast pool of skilled professionals capable of delivering large-scale projects, which could be leveraged for low-carbon technology development, but current focus remains on extending oil field life and optimizing refinery profits [4][5]. - The industry's cautious approach to transitioning to renewables is understandable from a short-term commercial perspective, but it risks losing competitive advantage if companies wait for clearer market signals before acting [4][5]. Group 4: Future Opportunities and Challenges - Oil companies have unique advantages for leading a pragmatic energy transition, including global reach, project reserves, and experience in managing complex supply chains [5]. - The balance between managing decline and preparing for the future is currently skewed towards maintaining the status quo, which could hinder growth opportunities that lie within the energy transition [5].