The role of NOCs in the energy transition is often overlooked
Outlook 2022: NOCs face difficult transition
State-sponsored oil companies will either sink or swim as the energy transition gathers pace
NOCs account for about half of global oil and gas production, but their role in the energy transition is often overlooked. NOCs are complex institutions with different strengths and burdens than private companies. And as the world gradually shifts away from fossil fuels, they will follow different trajectories. Some have the cash and technical skills to increase output, but many are already struggling and will be crippled by the energy transition. It is dangerous to generalise about NOCs. Companies such as Saudi Aramco are among the world’s most sophisticated oil and gas operators, with a combination of industry-leading technology, engineering capacity and strong balance sheets. But other NO
Also in this section
9 January 2026
The Latin American producer’s crude prospects rely on a multi-pronged approach where even the relatively easy wins will take considerable time, effort and cost
9 January 2026
While many forecasters are reasserting the importance of oil and gas, petrostates should be under no illusion things are changing, and faster than they might think
8 January 2026
Indonesia and Malaysia are at the dawn of breathtaking digital capabilities. Their energy infrastructure must keep up with their ambitions
8 January 2026
The next five years will be critical for the North Sea, and it will be policy not geology that will decide the basin’s future
