Global upstream companies breakdown by decarbonization plans 2021

Published by Statista Research Department, Aug 25, 2023
According to a 2021 survey of oil and gas execs worldwide, only five percent of upstream companies were considered net-zero pioneers. The survey assessed decarbonization targets within the oil and gas exploration and production sector and found that the majority of companies are expected to maintain their hydrocarbon-based portfolio and assume market possibilities for lower carbon production of oil and gas.

Distribution of oil and gas exploration and production companies worldwide by future decarbonization plans as of 2021

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Release date

October 2021

Region

Worldwide

Survey time period

2021

Number of respondents

100 respondents

Special properties

C-level executives and environment, health, and safety leaders of global upstream oil and gas companies

Supplementary notes

Hydrocarbon stalwarts refers to those companies continuing to focus on oil and gas production, particularly for new markets that may not be as heavily regulated and have lower production costs.
Low-carbon producers refers to companies seeing market opportunities for oil and gas production with lower carbon intensity.
Green followers includes those companies looking to include renewable and green tech in their portfolio once it is deemed profitable, while largely concerned with maximizing shareholder returns and paying off debts.
Net-zero pioneers refers to companies looking to divest most if not all of their hydrocarbon business and fully transform into a renewable and green major by commercializing green tech.

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