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
24 June 2025
The country’s latest licensing round attracted bids from IOCs and NOCs in a better showing than its last outreach to bidders
24 June 2025
Africa’s second-largest oil producer is creating the right conditions for the sector to try to boost output, explains Ian Cloke, COO of UK-based Afentra
24 June 2025
The takeover, if it gets the all-clear from regulators and other government authorities, would propel XRG and its parent firm ADNOC into the top tier of global LNG players
23 June 2025
Jet fuel will play crucial role in oil consumption growth even with efficiency gains and environmental curbs, with geopolitical risks highlighting importance of plentiful stocks
