Europe's IOCs are transitioning to becoming energy companies
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
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
