ABSTRACT
This paper deals with the role of renewables in strategies of oil companies from Central and Eastern Europe (CEE) in the process of energy transition. In particular, we analyze whether and to which extent CEE oil companies focus on renewables; if focus, what are the main area of renewable investments; and if focus, is there linkage between their position in oil upstream and investments in renewables. Our research showed that so far activities of CEE oil companies in renewables have been relatively weak, but, under the assumptions that announced projects will be realized, (1) level of investment in renewables of CEE companies in the future will be relatively significant, (2) there are strong differences among CEE oil companies in terms of the significance of renewable productions, (3) those oil companies with relatively weak upstream (crude oil reserves and production) are more interested in renewables and (4) production of electricity from wind and solar dominates the renewable activities of CEE oil companies.
