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Peer Stratgey

Chinese NOCs' Transition Plans Shift, Diminish

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  • Beijing's shifting economic priorities are being reflected in a reduced focus on the energy transition by the country's three national oil companies (NOCs).
  • The three state firms' recent full-year results and presentations made little or no mention of earlier low-carbon ambitions and revised some targets.
  • While some are still working on carbon capture projects, raising gas output is seen as an easier way to cut emissions.

The Issue

Topics:
Company/Financials, Gas Supply, Electric Vehicles, Corporate Strategy, Hydrogen, Carbon Capture (CCS), Gas Pipelines, Chemicals, Oil Demand, Gasoline, Diesel/Gasoil
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Thu, May 1, 2025