International Oil Companies have developed diverse strategies for the inclusion of renewables, with the approaches of European companies and large oil companies based elsewhere showing the most significant differences. Part of the majors’ decarbonisation movement is focused on maintaining access to investment capital rather than promoting a more sustainable environment. In the case of U.S. companies, the role of rising output from unconventional oil and natural gas fields is of great importance due to the country’s efforts to reposition itself as an oil exporting nation and increase its influence over the geopolitics of energy. U.S.-based Chevron and ExxonMobil are focused on decarbonisation of their own production.
Check out the full report by the Institute of Strategic Studies of Petroleum, Natural Gas and Biofuels (Ineep), a research body created by Brazil’s United Federation of Oil and Gas Workers (FUP or Federação Única dos Petroleiros) to know more about the current state of and future outlook for international oil and natural gas industry geopolitics in order to understand its short and long-term importance to the global energy sector.