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
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
