Oil and natural gas
The world will continue to need oil and gas for many years, but it must be produced with much lower emissions.
Our strategy supports a balanced energy transition by providing the oil and gas people need today, while helping to build the energy system of the future.
Significant investment is required to continue supplying oil and gas while low-carbon alternatives are developed and made commercially available. This growth is needed because the demand for oil and gas is expected to decline more slowly than the natural depletion of global oil and gas reserves.
Significant investment is required to continue supplying oil and gas while low-carbon alternatives are developed and made commercially available. This growth is needed because the demand for oil and gas is expected to decline more slowly than the natural depletion of global oil and gas reserves.
To maintain a secure supply of energy, we are growing our world-leading liquefied natural gas (LNG) business, with some of the lowest carbon intensity in the industry, and keeping oil production stable while cutting emissions from production.
Our oil and natural gas activities below
Liquefied natural gas (LNG)
Oyang has a world-leading liquefied natural gas (LNG) business with a sizeable portfolio, a diverse network of customers around the world, extensive shipping and storage assets, and access to regasification plants.
Deep-water oil and gas
oil and gas production is increasingly from our innovative deep-water business, which produces higher-margin and lower-carbon barrels.
Reducing methane emissions
Reducing methane emissions is widely considered one of the most effective near-term actions to keep the more ambitious 1.5°C goal of the Paris Agreement within reach.