Oil and gas industry scaling back its energy transition initiatives - Offshore Technology

Ambitions reassessed as oil and gas industry slows pace of energy transition, says GlobalData

The oil and gas industry enters 2026 facing a marked change in momentum regarding the energy transition. Despite recurring climate-related catastrophes—such as record-breaking wildfires, extreme heatwaves—and ongoing calls for emission reductions, the pace of the global energy transition is faltering. Energy-related CO₂ emissions continue to reach new highs, underscoring the persistent dominance of fossil fuels in the world’s energy mix, says Gl…

Oil and gas industry scaling back its energy transition initiatives - Offshore Technology

Leading oil and gas companies continue to work towards the decarbonisation targets they have set, leveraging a combination of existing measures and emerging technologies.