Energy transition: How should national oil companies respond?

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National oil companies (NOCs) are wrestling with the challenges of energy transition. Some have already rebranded themselves as national energy companies with ambitions to diversify across the energy sector. But for most, the remit remains centred on the development of national oil and gas resources. We think oil and gas will remain core to most NOCs but this does not equate to a “do nothing” approach. We outline four areas where companies can build resilience to changing energy markets.

Table of contents

  • Executive summary
  • The argument for action
    • 1. Embrace transparency
    • 2. Optimise existing oil and gas operations
    • 3. Step up decarbonisation efforts
    • 4. Evaluate new energies investment
    • Conclusions

Tables and charts

This report includes 5 images and tables including:

  • Top 20 companies by oil production in 2020 (thousand b/d)

What's included

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  • Document

    Energy transition: How should national oil companies respond?

    PDF 1.26 MB