Oil and gas energy storage major

Why is the oil & gas industry important?

The oil and gas industry will be critical for some key capital-intensive clean energy technologies to reach maturity. The resources and skills of the industry can play a central role in helping to tackle emissions from some of the hardest-to-abate sectors.

Are oil and gas companies a leader in the energy transition?

And because the industry currently relies on fossil fuels and has long-standing relationships with suppliers, its representatives also belong at the table when designing the transition pathway. Many oil and gas companies are well positioned to become leaders in the energy transition.

How can the oil and gas industry navigate the changing energy demand landscape?

The oil and gas industry should look to uphold capital discipline and prioritize viable low-carbon projects to help successfully navigate the changing energy demand landscape.

How will energy transitions impact the oil and gas industry?

The oil and gas industry is facing increasing demands to clarify the implications of energy transitions for their operations and business models, and to explain the contributions that they can make to reducing greenhouse gas (GHG) emissions and to achieving the goals of the Paris Agreement.

Can the energy sector be transformed without the oil and gas industry?

The transformation of the energy sector can happen without the oil and gas industry, but it would be more difficult and more expensive. Oil and gas companies need to clarify the implications of energy transitions for their operations and business models, and to explain the contributions that they can make to accelerate the pace of change.

Are oil and gas companies moving into the power industry?

The shift of oil and gas companies into the power industry is not new. In fact, private international oil companies (IOCs) and state-owned national oil companies (NOCs) started investing in cleaner energies decades ago.