How will Chinese National Oil Companies support China’s energy transition ambitions?

Investment in gas and low-carbon energies by the Chinese NOCs is accelerating but lags behind their international peers. We think this will change as the NOCs’ low-carbon ambitions increase. All O&G companies will face more challenges as governments, lenders and consumers demand more significant action on reducing emissions, including the Chinese NOCs. How effective the NOCs implement their future energy transition strategies will significantly impact China’s ability to meet its net-zero goal. We expect the NOCs to develop a unique energy transition pathway as not only major energy suppliers in China but also responsible global players.