Big Oil faces a new normal yet again in energy market

IT has been merely eight months since the climate change accord was reached in Paris in December, and already, a significant shift has taken place within the energy sector, and also among the broader financial community.

French energy giant Total has taken the lead, buying a majority stake in US solar company SunPower in 2011 for about US$1.4 billion and agreeing in May this year to pay US$1.1 billion for battery company Saft.

Anglo-Dutch group Shell in May also launched a New Energies division to invest in renewables and alternative energy systems.