Letter from Amsterdam: Europe’s IOCs first out of the blocks
As investor sentiment shifts, companies that align with the transition have a significant competitive edge
Europe’s biggest oil companies are all making strategic changes to mitigate future climate risks, a move spurred by investor, societal and political pressures that have given the firms a head-start in the energy transition race over competitors from less climate-focused regions. ‘Net zero by 2050’ has been the catchphrase among European IOCs over recent months. All of Europe’s biggest oil companies—BP, Total, Shell, Norway’s Equinor and Italy’s Eni—have committed to getting as close as possible to eliminating their carbon emissions by the middle of this century. Shell, Equinor and Eni have gone as far as including scope three emissions—the carbon released by their customers. North Amer
Also in this section
19 April 2024
Cairo’s currency problems have hindered investment, but Pharos sees considerable potential as Egypt emerges from crisis
18 April 2024
The Norwegian energy company is concentrating its efforts on specific regions and assets that meet strict cost and carbon criteria
17 April 2024
Uzbekistan and Kazakhstan provide opportunities after Europe turns it back, while also offering another gateway to China
16 April 2024
Commentators need to shake off the myths of the past, with rising oil prices a boon for US economy