BP and Shell have different visions of energy's future
BP and Shell prepare for the worst
The UK-headquartered majors are pursuing strategies that assume the future plays out least favourably for hydrocarbons
BP and Shell have presented their new corporate strategies for a lower-carbon world as crafted to be robust and resilient under each of three global energy scenarios they both lay out. But their worst-case scenarios for oil and gas—and hence, best-case scenarios for the planet—appear to be the new strategies’ key drivers, as if the firms’ existential fears should they not radically adapt their traditional business model trumps the potential greater profit should progress be slower. Shell’s Sky 1.5 and BP’s Net Zero were both modelled to meet the Paris Agreement’s more stringent 1.5°C goal. Despite this, these energy worlds of the future are surprisingly different for each scenario —in terms
Also in this section
17 June 2025
Israel’s attack on Iran caught oil firms with low inventories due to their efforts to protect themselves from falling prices, creating a perfect storm
17 June 2025
Sound development planning is essential in this diverse and rapidly evolving region
16 June 2025
The launch of the much-needed yet oft-delayed Africa Energy Bank remains shrouded in questions and funding constraints, but its potential is clear
16 June 2025
BP and partners have reached a $2.9b FID on a new phase at Shah Deniz, but slow progress on other gas projects is attributed to a lack of European support
