The Majors' benchmarking 2023

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The Majors have recalibrated their strategies in response to the energy trilemma and the pace of the energy transition. They are leaning into upstream while taking their foot off the accelerator in renewable power. Molecules rather than electrons are becoming more prominent in low-carbon strategies. Strategies are starting to converge. But performance and portfolios still vary greatly. Find out how the seven Major oil companies are performing across our proprietary upstream, downstream, and new energy metrics in our updated Majors’ benchmarking report.

Table of contents

  • The Majors are leaning into upstream in the near/medium-term
  • Equinor, Shell, Chevron and ExxonMobil have ‘fortress’ balance sheets
  • Oil and gas production growth varies dramatically this decade
  • ExxonMobil has much more exposure to downstream than any peer
  • Molecules are becoming more prominent in low-carbon strategies

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This report contains:

  • Document

    Majors Benchmarking 2023.pdf

    PDF 2.03 MB