International Oil Companies' Low-Carbon Strategies: Confronting the Challenges and Opportunities of Global Energy Transition

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Abstract

The traditional petroleum industry has already sensed the rising pressure and challenges from the historical energy transition toward a low-carbon energy future. International Oil Companies as the leading peer group have more options to adapt to the new business climate and response with strategic moves. IOC's Low-Carbon strategies can be summarized into three categories which include a shift towards gas production, and a direct involvement in low-carbon sector as well as collaboration with peers. IOCs have certain strengths in renewables and are confronting with opportunities driven by fast growing new energy electricity market and dramatically falling costs of solar PV and wind. However, IOCs are also confronting with risks and apt to weigh up the returns of renewables against oil and gas developments.

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Peng, Y., Li, J., & Yi, J. X. (2019). International Oil Companies’ Low-Carbon Strategies: Confronting the Challenges and Opportunities of Global Energy Transition. In IOP Conference Series: Earth and Environmental Science (Vol. 237). Institute of Physics Publishing. https://doi.org/10.1088/1755-1315/237/4/042038

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