Defining Major Oil and Gas Companies’ Development Strategies in the Era of Energy Transition
The energy market today is turbulent. Nations follow different energy trends and shape their policies towards Energy Transition and sustainable development. To avoid risks and pursue opportunities, oil and gas companies must adapt their longterm strategies to macro-trends and national regulations.Th...
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| Format: | Article |
| Language: | English |
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MGIMO University Press
2021-11-01
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| Series: | Vestnik MGIMO-Universiteta |
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| Online Access: | https://www.vestnik.mgimo.ru/jour/article/view/2980 |
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| author | V. I. Salygin D. S. Lobov |
| author_facet | V. I. Salygin D. S. Lobov |
| author_sort | V. I. Salygin |
| collection | DOAJ |
| description | The energy market today is turbulent. Nations follow different energy trends and shape their policies towards Energy Transition and sustainable development. To avoid risks and pursue opportunities, oil and gas companies must adapt their longterm strategies to macro-trends and national regulations.The study's objective is to investigate how major oil and gas companies’ development trends correlate with trends and strategies at the national level. The hypothesis is that oil and gas companies’ operations and innovation portfolios are linked to national energy mixes and environmental regulations. To do this, the authors examined the energy markets of 54 countries with the focus on Brazil, Canada, China, EU, Norway, Russia, Saudi Arabia, the UK, the USA, operational indicators, and innovation development trends of 18 major oil and gas companies. The production volumes have been translated into an ordinal scale and analyzed with the use of Spearman correlation.The study confirmed a weak correlation between oil and gas companies' operational indicators and national strategies. Companies operating in countries with strict environmental regulations, primarily in the European Economic Area, have been more likely to adapt their businesses to energy transition while building up oil and gas production; they also have had more diversified innovation portfolios. As more countries moved towards later generations of environmental regulations, the increase in renewable energy investments was found in more oil and gas majors. |
| format | Article |
| id | doaj-art-95b76927fb294dbc801e8e277a251e24 |
| institution | Kabale University |
| issn | 2071-8160 2541-9099 |
| language | English |
| publishDate | 2021-11-01 |
| publisher | MGIMO University Press |
| record_format | Article |
| series | Vestnik MGIMO-Universiteta |
| spelling | doaj-art-95b76927fb294dbc801e8e277a251e242025-01-30T12:16:16ZengMGIMO University PressVestnik MGIMO-Universiteta2071-81602541-90992021-11-0114514916610.24833/2071-8160-2021-5-80-149-1662423Defining Major Oil and Gas Companies’ Development Strategies in the Era of Energy TransitionV. I. Salygin0D. S. Lobov1Moscow State Institute of International Relations (University) of the Russian Ministry of Foreign Affairs, Russian Academy of SciencesMoscow State Institute of International Relations (University) of the Russian Ministry of Foreign AffairsThe energy market today is turbulent. Nations follow different energy trends and shape their policies towards Energy Transition and sustainable development. To avoid risks and pursue opportunities, oil and gas companies must adapt their longterm strategies to macro-trends and national regulations.The study's objective is to investigate how major oil and gas companies’ development trends correlate with trends and strategies at the national level. The hypothesis is that oil and gas companies’ operations and innovation portfolios are linked to national energy mixes and environmental regulations. To do this, the authors examined the energy markets of 54 countries with the focus on Brazil, Canada, China, EU, Norway, Russia, Saudi Arabia, the UK, the USA, operational indicators, and innovation development trends of 18 major oil and gas companies. The production volumes have been translated into an ordinal scale and analyzed with the use of Spearman correlation.The study confirmed a weak correlation between oil and gas companies' operational indicators and national strategies. Companies operating in countries with strict environmental regulations, primarily in the European Economic Area, have been more likely to adapt their businesses to energy transition while building up oil and gas production; they also have had more diversified innovation portfolios. As more countries moved towards later generations of environmental regulations, the increase in renewable energy investments was found in more oil and gas majors.https://www.vestnik.mgimo.ru/jour/article/view/2980energy transitionoil and gas industrygenerations of environmental regulationsrenewable energylong-term development strategygreen protectionismtransition fuel |
| spellingShingle | V. I. Salygin D. S. Lobov Defining Major Oil and Gas Companies’ Development Strategies in the Era of Energy Transition Vestnik MGIMO-Universiteta energy transition oil and gas industry generations of environmental regulations renewable energy long-term development strategy green protectionism transition fuel |
| title | Defining Major Oil and Gas Companies’ Development Strategies in the Era of Energy Transition |
| title_full | Defining Major Oil and Gas Companies’ Development Strategies in the Era of Energy Transition |
| title_fullStr | Defining Major Oil and Gas Companies’ Development Strategies in the Era of Energy Transition |
| title_full_unstemmed | Defining Major Oil and Gas Companies’ Development Strategies in the Era of Energy Transition |
| title_short | Defining Major Oil and Gas Companies’ Development Strategies in the Era of Energy Transition |
| title_sort | defining major oil and gas companies development strategies in the era of energy transition |
| topic | energy transition oil and gas industry generations of environmental regulations renewable energy long-term development strategy green protectionism transition fuel |
| url | https://www.vestnik.mgimo.ru/jour/article/view/2980 |
| work_keys_str_mv | AT visalygin definingmajoroilandgascompaniesdevelopmentstrategiesintheeraofenergytransition AT dslobov definingmajoroilandgascompaniesdevelopmentstrategiesintheeraofenergytransition |