The oil and gas (O&G) industry is quickly reaching an inflection point. While there is broad consensus on the inherent value in decarbonisation and a pivot to renewable sources, taking such action has moved from an option to a strategic imperative in order to maintain a social licence to operate.

Once facing a one-dimensional path to value creation, O&G companies now manage a broad array of stakeholders calling for action on carbon reduction and long-term conversion.

The oil and gas industry is quickly reaching an inflection point. While there is broad consensus on the inherent value in decarbonisation and a pivot to renewable sources, taking such action has moved from an option to a strategic imperative in order to maintain a social licence to operate. Once facing a one-dimensional path to value creation, O&G companies now manage a broad array of stakeholders calling for action on carbon reduction and long-term conversion.