Dirty to clean energy: Exploring ‘oil and gas majors transitioning'

Abraham-Dukuma, Magnus C.

doi:10.1016/j.exis.2021.100936

Cited by 13 publications

(7 citation statements)

References 63 publications

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“…As noted, the oil and gas complex is one of the largest producers of greenhouse gas emissions [5,19], while currently there are significant achievements in the way towards sustainability [20] and in the sphere of decarbonizing the production chain of hydrocarbons extraction and use [21]. Many major oil and gas companies set a goal of achieving carbon neutrality by 2050 and claim to be transforming themselves into energy companies.…”

Section: Introductionmentioning

confidence: 99%

“…In the works presented above, the structurization of selected options and directions of decarbonization is performed mainly by two criteria: the scope or stage of a technological chain, which leads to multiple mentions of different decarbonization options and makes it impossible to apply a universal terminological apparatus. The second line of the research is aimed at studying strategies for oil and gas companies' decarbonization and the process of their transition to being carbon neutral [21,[41][42][43][44][45]. Thus, Cherepovitsyn and Rutenko [41] analyze the strategy of major oil and gas companies on key decarbonization options and justify the need to change the system of strategic planning to hold key positions in energy markets.…”

Section: Introductionmentioning

confidence: 99%

“…At the final stage of the research the authors investigate correlations between decarbonization strategies and present their prioritization and categorization using the IF-DEMATEL procedure. Magnus C. Abraham-Dukuma [21] illustrates the emissions reduction and decarbonization target of oil and gas majors, explores a case study of the DONG Energy company and proposes an approach to transforming oil and gas companies from unsustainable to environmentally friendly. The author forms the basis for further theoretical and practical research, which may include the study of specific approaches to diversify the economy and individual companies to achieve carbon neutrality.…”

Section: Introductionmentioning

confidence: 99%

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Renewable Energy Sources in Decarbonization: The Case of Foreign and Russian Oil and Gas Companies

Romasheva

Ilinova

2023

Sustainability

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The necessity of implementing the Sustainable Development Goals and solve the problem of climate change, technological progress and the conscious climate policy of many countries has led to the transformation of the world economy and power industry towards low-carbon development, which should be based on renewable energy sources. Oil and gas companies are actively criticized by the international community for contributing significantly to total anthropogenic greenhouse gas emissions, with emissions from hydrocarbon fuel combustion being the largest. In order to meet the tightening environmental requirements and regulations, oil and gas companies implement various initiatives for decarbonization and reducing the carbon footprint, including operating with renewables, whose scale, essence and variety depend on the decarbonization model. This paper attempts to identify, first, how renewable sources of energy have been integrated into the oil and gas companies; second, what decarbonization models are possible; and third, what the major determining factors in the formation of their decarbonization model and the scale of renewable usage are. Based on an extensive literature review, survey, websites and corporate sustainability reports of Russian and foreign oil and gas companies, models of decarbonization and the role of renewables in decarbonization are defined and the classification and interpretation of determining factors are offered, justifying their impact on the decarbonization model and the scale of renewable usage. The authors present an assessment of factors and prove the correlation between the factors under consideration and the scale and diversity of renewable usage by oil and gas companies, confirming the adequacy of the offered approaches.

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Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Renewable Energy Sources in Decarbonization: The Case of Foreign and Russian Oil and Gas Companies

Romasheva

Ilinova

2023

Sustainability

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“…One is because of carbon dependence. With some exceptions (e.g., Sprengel & Busch, 2011; Witte, 2020), the role of carbon dependence has not been explored in great depth, although several studies have purposely focused on carbon‐intensive sectors (Abraham‐Dukuma, 2021; Cadez & Czerny, 2016; Green et al, 2022; Vieira et al, 2022). We reveal how carbon dependence has a major influence by shaping the ‘discretionary space’ for corporate net zero.…”

Section: Discussionmentioning

confidence: 99%

What explains firms' net zero adoption, strategy and response?

Berger‐Schmitz,

George,

Hindal

et al. 2023

Bus Strat Env

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The past few years have witnessed a proliferation of corporate net zero emission targets. Despite their growing prominence, little is known about firms' motives for, strategies towards and response pathways of net zero. This paper seeks to narrow the current gap in understanding through an analysis of 30 interview responses. We find evidence that net zero targets have been propelled by a combination of institutional and competitive pressures. Yet firms' response to these pressures, in terms of the substantivity of their commitments and strategic positioning in relation to net zero, has varied significantly. Whilst identifying a role for firm‐specific factors, we also draw attention to the importance of sectors in understanding variations in corporate responses. A further contribution of the paper is to map out different temporal trajectories of strategic positioning and offer insights into the factors that lead firms to remain static or change their position towards net zero over time. We conclude by discussing the implications of these findings for both future scholarship and the contribution of net zero commitments to public climate goals.

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“…Today, some other European IOCs still have a close affiliation with their “home” state, that is, France and TotalEnergies (a merger of three French companies—Total, Elf, and Aquitaine), and Italy and Eni. Ørsted is now a “green major” and used to be an NOC (DONG Energy) (Abraham‐Dukuma, 2021). Considering that many NOCs operate across the globe, beyond national borders, terms like New Multinational Oil Company (NMOC) and International NOC (INOC) are used in some cases (Bain & Company, 2009; International Energy Agency, 2020a).…”

Section: Diversified Companies Within Different Statesmentioning

confidence: 99%

Globalization and decarbonization: Changing strategies of global oil and gas companies

Guo

Yang

Bradshaw

et al. 2023

WIREs Climate Change

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Oil and gas (O&G) companies, as key players in the contemporary global energy landscape, have evolved within the context of a dynamic interaction between states and markets. However, their role is being transformed radically by two successive “global shifts”: economic globalization—driving energy demand growth patterns—and climate change—driving energy system transformation and decarbonization, both of which require them to reconsider their business strategies. Using an interdisciplinary lens that draws on human geography, strategy and international business, and international political economy, we propose an integrated conceptual framework for two periods—the 1990s–early 2010s and the post‐Paris Agreement era—to explore the nature of strategic responses by O&G companies to these global economic and environmental shifts. We illustrate the linkage of O&G companies' two strategies of (re‐)globalization and decarbonization by the aspects of production, finance, and knowledge as internal structures. Energy security is one of the priorities in the macro external environment. It is becoming increasingly difficult for O&G companies to deal with current dilemmas: climate goals require a significant reduction in fossil fuel production and consumption, and pressures from governments, nongovernmental organizations, and investors threaten the long‐term survival of O&G companies, while fossil fuel demand will remain high in the short to medium term. At the same time, the post‐pandemic recovery and Russia's war in Ukraine are resulting in a re‐assessment of the benefits of unfettered globalization. Therefore, global O&G companies face dual challenges in the new era of (re‐)globalization and decarbonization and need to make changes to ensure their future viability.This article is categorized under: The Carbon Economy and Climate Mitigation > Decarbonizing Energy and/or Reducing Demand

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Dirty to clean energy: Exploring ‘oil and gas majors transitioning'

Cited by 13 publications

References 63 publications

Renewable Energy Sources in Decarbonization: The Case of Foreign and Russian Oil and Gas Companies

Renewable Energy Sources in Decarbonization: The Case of Foreign and Russian Oil and Gas Companies

What explains firms' net zero adoption, strategy and response?

Globalization and decarbonization: Changing strategies of global oil and gas companies

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