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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Autores principales:	V. I. Salygin, D. S. Lobov
Formato:	article
Lenguaje:	EN RU
Publicado:	MGIMO University Press 2021
Materias:	energy transition oil and gas industry generations of environmental regulations renewable energy long-term development strategy green protectionism transition fuel International relations JZ2-6530
Acceso en línea:	https://doaj.org/article/95b76927fb294dbc801e8e277a251e24
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spelling	oai:doaj.org-article:95b76927fb294dbc801e8e277a251e242021-11-23T14:51:03ZDefining Major Oil and Gas Companies’ Development Strategies in the Era of Energy Transition2071-81602541-909910.24833/2071-8160-2021-5-80-149-166https://doaj.org/article/95b76927fb294dbc801e8e277a251e242021-11-01T00:00:00Zhttps://www.vestnik.mgimo.ru/jour/article/view/2980https://doaj.org/toc/2071-8160https://doaj.org/toc/2541-9099The 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.V. I. SalyginD. S. LobovMGIMO University Pressarticleenergy transitionoil and gas industrygenerations of environmental regulationsrenewable energylong-term development strategygreen protectionismtransition fuelInternational relationsJZ2-6530ENRUVestnik MGIMO-Universiteta, Vol 14, Iss 5, Pp 149-166 (2021)
institution	DOAJ
collection	DOAJ
language	EN RU
topic	energy transition oil and gas industry generations of environmental regulations renewable energy long-term development strategy green protectionism transition fuel International relations JZ2-6530
spellingShingle	energy transition oil and gas industry generations of environmental regulations renewable energy long-term development strategy green protectionism transition fuel International relations JZ2-6530 V. I. Salygin D. S. Lobov Defining Major Oil and Gas Companies’ Development Strategies in the Era of Energy Transition
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
author	V. I. Salygin D. S. Lobov
author_facet	V. I. Salygin D. S. Lobov
author_sort	V. I. Salygin
title	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_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_sort	defining major oil and gas companies’ development strategies in the era of energy transition
publisher	MGIMO University Press
publishDate	2021
url	https://doaj.org/article/95b76927fb294dbc801e8e277a251e24
work_keys_str_mv	AT visalygin definingmajoroilandgascompaniesdevelopmentstrategiesintheeraofenergytransition AT dslobov definingmajoroilandgascompaniesdevelopmentstrategiesintheeraofenergytransition
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Defining Major Oil and Gas Companies’ Development Strategies in the Era of Energy Transition

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