BP leads peers on its ambition for low-carbon EBITDA - can it deliver?

Shell’s first quarterly result after the release of its 2024 Energy transition Strategy reflects a more conservative approach to capital allocation.

Shell’s new transition strategy is better connected to its corporate strategy, but delivers a narrower focus on low-carbon.

TotalEnergies 1Q24 results showed strong results for its Integrated Power segment, with earnings up 65% and capex accounting for 47% of group net investments.

Equinor 1Q24 result demonstrated strong growth in renewable power production, but more work is needed if it is going to meet its target of > 4000GWh by the end of the year

Eni’s 1Q24 results introduced a new low-carbon segment, with the company now reporting performance by its Plenitude and Enilive business under a unified segment.

Woodside released its 1Q24 results last week with no disclosure provided for its New-Energy segment.

Accela’s annual pre-AGM in-depth on Global Oil and Gas Majors, assesses the achievability of and the investment needed to meet net carbon intensity targets and launches Accela’s Transition League Table.

Santos’ 1Q24 results provided more clarity into Santos’ spend in Energy Solutions for the quarter.

Equinor held its 2024 ESG day on Monday, largely reiterating what we saw during its FY23 results and capital markets day, but with a few major takeaways.

In this insight, we take a closer look at Woodside's transition strategy, evaluating its climate performance and low carbon ambition compared to European Majors.

Eni's Capital Markets Day 2024 delivered an upgrade to oil and gas, pushing its peak production year from FY26 to FY30.

Shell released its Energy Transition update today. This is the first update on its energy transition plan after the appointment of CEO Wael Sawan.

Despite the company's promotion of its “abatement target” in its climate update, Woodside's significant investment ($1000 invested per tCO2e abated) may not lead to any material reduction in its own scope 3.

Santos released its FY23 results and Sustainability and Climate Change report this week. While there was more disclosure on Santos Energy Solutions, its emission targets and its transition strategy remain unchanged

Eni's Capital Markets Day on March 14th will provide updates on its strategic progress and future targets, with 4Q results highlighting concerns that capex could be at risk after falling short of FY23 guidance.

Mergers & acquisitions (M&A) can be an important tool for climate and transition and most companies are staking out their position in the endgame.

Equinor provided several updates for low carbon, but ultimately remains heavily entrenched in oil and gas.

TotalEnergies is in a balancing act, expanding into electricity to adapt to electrification while simultaneously refining its oil and gas operations to stay competitive in a declining industry.

4Q23 results provided a first look at Murray Auchincloss’ vision as BP’s new CEO. Auchincloss’ emphasised a ‘simplified’ strategy after a period of ‘generating options’ under previous leadership.