Oil and Gas Sponsorship of Global Sports Hits $5.6 Billion, Report Finds

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Oil and Gas Sponsorship of Global Sports Hits $5.6 Billion, Report Finds

Oil and gas companies are spending an estimated $5.6 billion on sports sponsorships, seeking to extend their social licence to boost production of fossil fuels even as the climate crisis intensifies, according to a new report. Top sports sponsors include Saudi Aramco, the world’s largest oil company ($1.3 billion); British oil major Shell ($469 million); petrochemicals giant Ineos ($776 million); and French oil company TotalEnergies ($327 millio…