Welcome to Francis Academic Press

Academic Journal of Environment & Earth Science, 2024, 6(1); doi: 10.25236/AJEE.2024.060112.

The Process of Foreign Oil Companies Developing New Energy and Its Enlightenment for China

Author(s)

Wu Minghui

Corresponding Author:
Wu Minghui
Affiliation(s)

SINOPEC Star Petroleum Co.,Ltd., Beijing, 100083, China

Abstract

Due to the fundamental, complex and special nature of the petroleum and petrochemical industry, it plays an important role in the macro-evolution of global carbon peaking and carbon neutrality. Many petroleum companies around the world have been involved in the development of new energy in the energy transition to a greater or lesser extent, and their attitudes and strengths towards the development of new energy have varied at different stages. By sorting out the history of the development of new energy by famous petroleum companies, we can form a reference for the development of new energy by petroleum enterprises in China at present. By sorting out the changes of oil and petrochemical companies' planning and investment in new energy development, they are divided into three categories, one is the active and aggressive companies represented by BP and Shell, which saw the trend of new energy development earlier and actively invested in it; the second is the passive and conservative companies represented by ExxonMobil and Chevron, which chose a more conservative attitude towards new energy development by virtue of their dominant position in oil and gas resources; The third is the dual-track and prudent type of companies represented by Total and Eni, which have developed petroleum business and new energy business in a more balanced way. In recent years, domestic petroleum enterprises, represented by the three major oil companies, have gradually increased their investment in new energy, and the experience of foreign counterparts in developing new energy has become a referenced "stone" in the process of developing new energy for Chinese enterprises, which is of reference to the choice of carbon peak and carbon neutral development path for China's petroleum industry.

Keywords

petroleum companies, new energy,carbon neutrality, insights

Cite This Paper

Wu Minghui. The Process of Foreign Oil Companies Developing New Energy and Its Enlightenment for China. Academic Journal of Environment & Earth Science (2024), Vol. 6, Issue 1: 84-91. https://doi.org/10.25236/AJEE.2024.060112.

References

[1] Zhao Zhe, Dou Lirong, Gao Feng, et al. Strategies of IOCs to cope with the challenge of “dual carbon” goal and enlightenment[J]. International Petroleum Economics, 2022, 30(6):8-22. 

[2] Liu Yueyang, Yu Ling, Shi Hongyu, et al. The practice and enlightenments in developing new energy business of major international oil companies[J]. International Petroleum Economics. 2018, 26(7):7-11,30. 

[3] Yu Benshan, He Yanqing, Yang Jinhua, et al. New Energy Business Distributed and Adjusted by International Oil Majors[J].Petroleum science and technology forum. 2016, 35(5):51-55.

[4] Xu Haifeng. Major changes droved by energy transition in the global refining industry[J]. International Petroleum Economics, 2021, 29(5): 26-32, 64.

[5] bp. bp Statistical Review of World Energy 2022[R/OL].2022.https://www.bp.com/content /dam/bp/business-sites/en/global/corporate/pdfs/energy-economics/statistical-review/bp-stats-review-2022-full-report.pdf

[6] Zhang Mengli,Yue Xiaowen.Enlightenments of new energy business development in the international oil companies[J] International Petroleum Economics. 2019, 27(4):66-70.

[7]shell.strategic-report-shell-ar21.https://reports.shell.com/annual-report/2021/_assets/ downloads/strategic-report-shell-ar21.pdf

[8] ExxonMobil. 2021 Energy and Carbon Summary[R/OL].http://sahratex.com/-/media/Global/ Files/energy-and-carbon-summary/EM-EnergyCarbon-Exec-Summary.pdf

[9] ExxonMobil.Advancing Climate Solutions-2022 Progress Report[R/OL]. https://corporate. exxonmobil.com/-/media/global/files/advancing-climate-solutions-progress-report/2022/2022-advancing-climate-solutions-progress-report.pdf

[10] Chevron. energy in progress 2022 annual report[R/OL]. https://www.chevron.com/-/media/ chevron/annual-report/2022/documents/2022-Annual-Report.pdf

[11] TotalEnergy.Sustainability and Climate2022 Progress Report[R/OL].https:// totalenergies.com.ar/es/system/files/atoms/files/sustainability_climate_2022_progress_report_accessible_version_en.pdf

[12] Lan Mengtong, Yu Ling. China Petroleum Daily. Exploration of the "dual track" path for Eni's low-carbon transformation. [EB/OL].[2022-12-30]http://news.cnpc.com.cn/epaper/sysb/ 20210901/0150859004.htm

[13] Eni.nnual-Report-2021. [R/OL]. https://report.eni.com/annual-report-2021/en/.

[14] Deloitte,Sinopec research institute of petroleum processing. White Paper on Low Carbon Development in the Petrochemical Industry: Towards 2060 Carbon Neutrality. [M].2022.4

[15] Liu Hongguang, He Zheng, Liu Xiaoxiao, et al. Research on the Path to Achieve Carbon Peak and Carbon Neutrality in China's Petrochemical Industry[J].Petroleum & Petrochemical Today. 2022, 30(2):1-4.

[16] Jia Zhao. Study on carbon emissions and carbon emission reduction curve of China’s refining industry[J]. Petroleum processing and petrochemicals,2022, 53 (5):6.109-114.

[17] Cao Xianghong. Technical route of carbon dioxide emissions peak and carbon neutrality in oil refining industry[J].Petroleum refinery engineering, 2022.52:1-10.

[18] SINOPEC. Responsibility Report2021 http://www.sinopecgroup.com/group/social/shzrbg/ 20220811 /news_20220811_502830533748.shtml

[19] China Petroleum News Center. China Petroleum Green and Low Carbon Development Action Plan 3.0. [2022-12-30].http://news.cnpc.com.cn/system/2022/06/06/030069761.shtml

[20] China National Offshore Oil Corporation. China National Offshore Oil Corporation 2021 Performance Release Conference [EB/OL].(2022-3-30).[2022-12-30].http://live.gensee. net/live/watch/general/mnb3y85m