The modern energy market is characterized by the transformation of oil and gas companies in the direction of world energy decarbonization. The oil and gas industry diversifies its activities by combining traditional and renewable energy technologies in a single organizational structure. Oil and gas companies are investing heavily in renewable energy. The drive of the same equipment both with the help of renewable energy sources and by burning traditional hydrocarbons allows attracting the advantages and minimizing the individual disadvantages of using both directions of energy production. The presence of significant experience, developed infrastructure and skilled labor resources allows the renewable energy equipment use in the oil and gas fields of existing companies. The integration of renewable generation technologies into oil and gas is one way to meet the growing demand for energy while reducing environmental pollution. The modern oil and gas industry is characterized by the use of solar photovoltaic systems, wind turbines, concentrators of solar and geothermal energy, biofuels. The use of renewable energy sources contributes to improving the energy efficiency of well drilling, oil and gas production, methods of intensification of oil and gas production and refining. The Ukrainian oil and gas sector plans to expand its presence in the renewable energy market by producing biogas and hydrogen and attracting the existing gas transmission system for their transportation. Given the global trends of the economy decarbonization, one can predict the gradual transformation of oil and gas companies into energy ones