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

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...