They do not. The biggest consumer of oil products are in transport and it is car companies who are investing into alternatives there as well as established players in making electric trains. For solar, wind and other forms of clean electricity production it tends to be power plant operators who move to them , rather then oil companies. So that is happening that way. The only one were you see large investment is offshore wind, as oil companies have a good advantage in offshore operations from oil rigs. So a goof bit of knowledge can be transfered. There is investment into hydrogen, but even in that case a lot of it comes from the chemical site of things. However most chemical companies are independent from oil companies.

So big oil just tries to make as much money as they can and pay it out in dividends. The shareholders can invest it into whatever they prefer.