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National Oil Companies: strategies for the energy transition in 2022
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Report summary
National Oil Companies (NOCs) have avoided the same level of scrutiny on decarbonisation plans and emission targets as their International Oil Company (IOC) peers in recent years. National obligations and a different set of stakeholders provide for differing strategic priorities. But given their scale and financial resources, NOCs will have an increasingly crucial role in the energy transition. Matching the Majors in their low carbon capital allocation would result in a four-fold increase in investment in new energies and decarbonisation. As intergovernmental and investor pressures rise, are we about to witness a similar tipping point for NOC energy transition strategies?
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