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Policy & Regulation

China’s NOCs leading the way on low-carbon strategy

Climate and environmental initiatives have sent the pendulum swinging towards decarbonisation, forcing state energy players to prepare for a lower-emission future Climate and environmental initiatives have sent the pendulum swinging towards decarbonisation, forcing state energy players to prepare for a lower-emission future.
By Colin Shek 25 June 2019 Asia Pacific / Policy & Regulation 0 34339
Smog in Beijing. Reducing air pollution is a policy priority in China. (Interfax)

China’s state-owned oil and gas giants are leading the charge among NOCs around the world in adapting their business strategies for climate change initiatives and preparing for a global transition to a low-carbon energy mix.

China National Petroleum Corp. (CNPC), Sinopec and China National Offshore Oil Corp. (CNOOC) are all pursuing strategies to cut emissions – mainly by ramping up gas production and upgrading the quality of their refined fuels. The companies’ efforts are being driven largely by commercial considerations and to align themselves with the...