Big Oil and climate change: the long road

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25 July 2019

Big Oil and climate change: the long road

Report summary

The threat of climate change represents an existential challenge to the oil and gas industry, and to the Majors in particular. If they are to remain investible – five, ten years from now – all will need to transition to business models that are aligned with the goals of the Paris Agreement. What that actually entails is the trillion-dollar question – one which the entire industry is wrestling with right now. The answer is indeterminate and evolving; the timing ambiguous. But some things are clear. This is a journey. Everyone – consumers, policy-makers, corporations, investors – is moving in the same direction. Different routes, different velocities, but one direction. And the Majors have no choice but to make the journey. Staying put is not an option.

Table of contents

Tables and charts

This report includes 7 images and tables including:

  • The Majors liquids production vs. global demand scenarios (million b/d)
  • Climate and sustainability investor motions (selected), 2015-2019
  • The journey for oil companies and investors, from today’s vantage point
  • Oil demand projections (million b/d) and projected rise in global average temperature by 2100
  • Global oil supply cost curve, 2040 production capacity (million b/d)
  • Global oil recoverable resource estimates, BP and Wood Mackenzie

What's included

This report contains:

  • Document

    Big Oil and climate change: the long road

    PDF 1.12 MB

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