Asia’s NOCs chart paths to decarbonisation

But none of the companies are poised to abandon oil and gas anytime soon

Asia’s NOCs remain intent on pumping oil and gas for years to come, but mounting governmental pressure to respond to climate change and trim emissions means most are starting to diversify and invest in the energy transition—albeit with varying levels of speed and enthusiasm. Despite their scale, NOCs had until recently escaped much of the heavy public scrutiny experienced by their IOC counterparts around emissions and decarbonisation credentials. However, the energy transition is forcing all NOCs to consider their diversification strategies, while record revenues and rising intergovernmental pressure to focus on energy security have provided greater incentives to diversify. Asian NOCs are a