Climate Strategies of "Big Oil" Companies Under the Global Energy Transition

The objective of this thesis is to explore how the big oil and gas companies, supermajors are addressing energy transition since it is a disruption of the market that threaten and change the way the sector is doing business. Study the strategies and direction supermajors are taking toward this transformation, considering the challenges it is facing, either long or short term. By analyzing strategic documents communicated by the supermajors, able to compare their approach to it and identified three layers to their strategies: investment, action and collaboration, and business development. Each of these approaches has two main goals, targeting one challenge or the other. From the document analysis, it is possible to evaluate which challenge is prioritizing, the reason for such choice, and thus which position supermajority has on energy transition. It is found that all supermajors consider energy transition, and even if they seem to implement some long-term action, some more than other (Total, BP), they are all agreeing on large investment in short term strategies.