The big choices for oil and gas in navigating the energy transition

As oil and gas companies respond to the current economic discontinuities, they must choose how to compete as the world transitions to a low-carbon future

Covid-19 has resulted in a material near-term drop in global energy demand, at one point leading to a 30pc reduction. Yet this is not the biggest threat the oil and gas industry faces. Long before the pandemic, pressure was building to shift the energy system away from one dominated by hydrocarbons towards one in which low-carbon sources play the lead role. It is ever more important for oil and gas companies to make thoughtful choices to improve economic and reputational resilience, and to consider whether and how to reposition themselves to take advantage of accelerating low-carbon priorities. There are three key questions the leaders of oil and gas companies should consider: How can we ma