In recent times, international oil prices have risen significantly, which has also pushed energy stocks overall higher. Under such circumstances, many people believe that life for international oil companies should be very easy. But in fact, several major international oil companies have recently been collectively “forced into eviction”. What is going on?
1. The international oil and gas giant ExxonMobil was forced to accelerate its transformation due to the civil war
Recently, the international oil and gas giant Exxon The Mobil board of directors encountered a “surprise battle”. Under the pressure of new energy technology applications and environmental protection issues, small and medium-sized shareholders representing the force of change continued to push Exxon Mobil to announce emission targets and demanded separate CEO and chairman proposals.
At the same time, ExxonMobil’s market value has plummeted by US$266 billion in recent years, and it continues to suffer losses. Due to various factors, in the end, “Engine One”, a small shareholder holding 0.02% of Exxon Mobil’s shares, won the support of the majority of shareholders and successfully won three of the twelve board seats, achieving a weak victory. A battle to win against the mighty.
The reason for the victory is mainly that shareholders are dissatisfied with Exxon Mobil’s financial performance and measures to combat climate change. This board reorganization indicates that ExxonMobil’s overall policy direction will be forced to tilt toward new energy sources.
On the same day as Exxon Mobil’s board of directors was reorganized, the District Court of The Hague, Netherlands issued a ruling requiring Shell, the world’s largest oil company, to reduce its carbon emissions by 2030. Controlled at 45% of 2019 levels. This is the first time in the world that a court has ordered oil and gas companies to comply with the Paris Agreement and reduce carbon emissions.
Data show that there are currently about 1,800 climate change-related lawsuits in courts around the world.
Compared with the fierce “forced divorce” between Exxon Mobil and Shell, Chevron, one of the world’s largest energy companies, has easily won the victory for its shareholders who advocate low carbon emissions. victory. The company’s annual shareholder meeting overwhelmingly approved cutting carbon emissions caused by the use of the company’s products.
Han Xiaoping, Chief Information Officer of China Energy Network: Oil companies do not want to get themselves into these legal disputes. If they continue to be sued, they will suffer more blows in the capital market. It would be better to proactively reduce oil production. Of course, oil companies are also optimistic about new energy, which is now experiencing continuous technological breakthroughs and is very competitive.
2. The transformation of European oil companies to “de-petroleumization” has become a trend
In the context of carbon peaking and carbon neutrality, the development strategic direction of oil and gas companies Adjustment has become a choice that needs to be put on the agenda, and the “transformation” of oil and gas giants has become a development trend.
Total, Shell, BP, these names have always been synonymous with European energy companies, and now they are accelerating the pace of transformation.
In order to express its determination to transform into a diversified energy company, the old oil company Total “remodelled” and changed its name to “Total Energy”. At the same time, the logo was released as “Energy Journey”. The red starting point symbolizes Total Energy’s traditional oil business, which has since gradually extended to natural gas, electricity, hydrogen energy, biomass energy, wind energy and solar energy.
Total CEO Patrick Pouyan: We have decided to transform into a multi-energy company and become one of the top five renewable energy producers in 2030 and become a green company. Energy giant.
In fact, many international oil giants are doing the same thing. Moving from traditional oil giants to new “energy giants” has become the unified goal of European oil companies.
BP, also a European oil company, has given a new explanation for its name, changing from “British Petroleum” to “Not only contributes oil”. It is worth mentioning that BP’s concept of “not only contributing to oil” was proposed earlier in 2000.
Guo Haitao, associate professor at the School of Economics and Management at China University of Petroleum (Beijing): These European oil companies are relatively radical in the global oil industry, which is also related to its overall development atmosphere. relation. These countries are not particularly rich in oil and gas resources. After the energy transition from high-carbon to low-carbon, these energy companies have made more designs or deployments.
Unlike European oil companies that are accelerating their transformation, American oil companies are still firmly optimistic about the oil and gas industry. Both ExxonMobil CEO Woodlon and Occidental Petroleum Corp.’s Hollubb stressed that the world still needs oil and natural gas.
American oil companies have never wavered in their confidence in the oil and gas industry. Recently, the American oil giant Chevron announced the acquisition of Noble Energy, an independent oil and gas producer headquartered in Houston, USA. .
Han Xiaoping, Chief Information Officer of China Energy Network: We call the U.S. economy an economy on wheels, and it is more difficult to get rid of oil. The United States does not fail to develop new energy, but it is not as active as European countries. As an energy source, oil may withdraw from the stage of history, but as a resource, it may continue to stay at the center of the stage of history.
3. Change the battery in 3 minutes, Sinopec’s 5,000 battery replacement stations are here
International oil companies have embraced low carbon and in the process of energy transformation Presented different characteristics. European companies are undergoing rapid transformation. Although American companies are conservative, they are also planning for low-carbon technologies. How should Chinese oil and gas companies act?
For China’s oil companies, the energy transition is equally unstoppable. On April 15, Sinopec and NIO signed a strategic cooperation agreement. On the same day, Sinopec Chaoying Station, the world’s first fully intelligent power swap station jointly built by Sinopec and NIO, was officially put into operation.
This newly put into operation fully intelligent power swap station is located in the Southeast Fourth Ring Road of Beijing, covering an area of 60 square meters. Users do not need to get off the car. You can complete the parking battery swap service with just one click.
Zhang Yuzhuo, Chairman of China Petrochemical Corporation: Our plan is to build no less than 5,000 mixing stations during the “14th Five-Year Plan” period.
The entry of Chinese oil companies into new energy is nothing new. CNOOC’s first offshore wind power project was officially launched in Dongtai, Jiangsu. Offshore wind power is a new field for CNOOC. At present, the project has completed the installation of 13 wind turbines and the offshore booster station. It is expected to be put into operation smoothly as planned next year and will provide green energy to the local area.
Wang Dongjin, Chairman of China National Offshore Oil Corporation: Actively promote the leap from traditional oil companies to new energy and develop new energy with marine resources as the main body.
China Petroleum Group, which is also one of the “three barrels of oil”, added a new member on June 28 and established Kunlun Capital Co., Ltd. Kunlun Capital focuses on emerging industries such as new energy, new materials, and high-end intelligent manufacturing to add horsepower to PetroChina’s transformation journey.
Dai Houliang, Chairman of China National Petroleum Corporation: As a fossil energy company, transformation is very difficult, but we must make the transformation.
Moving from an oil giant to an energy giant does not mean the decline of the oil industry, but another opportunity to expand business.
Dong Xiucheng, Executive Director of the China International Low Carbon Economy Research Institute: In 2021, the oil and gas industry will take a series of measures to achieve the “dual carbon” goal. Taking advantage of traditional oil and gas advantages, transformation is actually an opportunity and development for the entire industry. </p
