Despite climate and energy insecurity, oil and gas remain firmly anchored in the global economy. Oil pours not only into fuel tanks, but into products such as plastics, chemicals, textiles, cosmetics, and fertilizers. And gas - an essential transition fuel – may well be needed for the next 20 to 30 years.  

When it comes to short-term profit, fossil fuels produce higher shareholder gains than renewables, and fuel majors are still re-focusing on hydrocarbons, reviewing - or reversing - green investments. If a billion dollars yield 12% returns in oil versus 7% in offshore wind, the choice is obvious and brutal. For example, after 15-20 years, wind farms need replacing or upgrading. The costs are significant and hard to predict. 

Further slowing the move from molecules to electrons is the lingering problem of infrastructure (such as grid capacity). Despite continued efforts, it remains largely configured toward traditional fuels. Existential dilemmas persist, too. For example, electric trucks will offer door-to-door transport in a decade. Should transportation investors really shift to electric trains? 

If you’re seeking a competitive remuneration package, major hydrocarbon players have the edge. But that competitiveness also applies to candidates. These companies can afford to hire the best. They cultivate excellence. They’re R&D‑driven, technically strong, and used to operating under pressure.  

If you’re a high performer seeking security, they also remain relatively safe. Yes, multinationals like BP and Exxon (committed to long-term oil and gas expansion) are cutting jobs. But these cuts are far from the scale announced by Shell in 2024 in its bid to improve shareholder returns, simplify operations and refocus on core hydrocarbons. TotalEnergies is an example of what can happen when hydrocarbons and renewables are skilfully balanced. Instead of layoffs, it is opting for tailored redeployment, reskilling, and external mobility.  

Rising renewables 

And yet. For long‑term, risk‑adjusted ROI, renewables attract far more global capital than fossil fuels.ⁱ They offer more stable long‑term economics and higher net energy returns. Many countries want to strengthen their energy security, rein in import bills, and (still) meet climate action targets.ⁱⁱ Meanwhile, customer demand continues: EVs are taking a growing share of new car sales globally (even if the picture is not unform).ⁱⁱⁱ 

The broader energy and infrastructure ecosystem is thriving. Again, companies who balance fossil and renewables are in the lead. Global infrastructure player VTTI specializes in energy storage and terminal services. It has continued to invest in its fossil‑fuel storage core, while expanding into transitional and low‑carbon fuels. An early investor in wind and solar, Dutch pensions major APG is shifting to grid infrastructure, storage, and flexibility markets.  

If you’re happy to accept lower financials, and intrinsically motivated to make an impact on the firm, society, and the environment, you may find a home here. But there are conditions: employers in this fast-moving environment want drive, teamwork, curiosity, and openness. Grounded leaders who walk the floor, not fat cats.  

Dutch offshore group Heerema is a flourishing example. It serves the global energy industry with heavy‑lift, transport, installation, and decommissioning solutions – installing wind farms and dismantling North Sea Oil platforms. I recently placed a former Shell executive as its head of health and safety. She loves the new environment.  

Meanwhile, Fudura helps companies manage, measure, and optimize their electricity and gas use. In 2022, and as early investments in renewables left many pension funds struggling, PGGM and DIF Capital Partners (now CVC Capital), bought the company from Dutch grid operator Enexis for €1.3 billion. 

I’m working with a leading Dutch construction and infrastructure company. Their fast-growing energy division is now a standalone unit, focusing on installation technologies and renewables, with a stock price reflecting a robust performance. Candidates appreciate it because they can make a social impact – on housing, infrastructure, insulation, grid reinforcement. One of the company’s Board Members became the Dutch Minister of Economic Affairs and Climate Policy. 

Once inside the ecosystem, people can move easily between players like Engie and Bouygues. Differences between companies are large, and mobility is high. Yet they rarely leave. 

Hydrocarbons offer high pay, strong performance cultures, vibrant R&D, and technical excellence. Job security is better than some might suggest, especially when the firm skilfully blends fossil and renewables. Meanwhile, the wider ecosystem - storage, grids, construction, optimisation, and offshore services - is expanding and mobile.  

Both offer rich opportunities for leaders. Before making the transition, be clear about your purpose, how it aligns with that of the firm, and the value you will bring to each other.  

Hydrocarbons offer high pay, strong performance cultures, vibrant R&D, and technical excellence. Job security is better than some might suggest, especially when the firm skilfully blends fossil and renewables. Meanwhile, the wider ecosystem - storage, grids, construction, optimisation, and offshore services - is expanding and mobile.  

Both offer rich opportunities for leaders. Before making the transition, be clear about your purpose, how it aligns with that of the firm, and the value you will bring to each other.  

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[i] International Energy Agency, (IEA), World Energy Investment 2024.

[ii] Dickinson, D., (2026). Renewables rising, Part 2: Seeking stability amid volatile fossil fuel markets. UN News, 26 April, 2026.

[iii] IEA, Global EV Outlook 2025.