International oil companies and the energy transition
The International Renewable Energy Agency's (IRENA) transforming energy scenario identifies the course the world should pursue to create a sustainable future energy system. To achieve this goal, profound changes will be required to convert the present system from dependence on fossil fuels to greater reliance on renewable energy. This technical paper published by the International Renewable Energy Agency (IRENA) analyses the strategies of seven international oil companies (IOCs) in the context of the energy transition – BP PLC, Chevron Corp., Eni SpA, Equinor ASA, ExxonMobil Corp., Royal Dutch Shell PLC and Total SE. It describes how these companies are adapting to the ongoing transformation and assesses the measures they have implemented against the requirements of climate stabilisation.