Oil and gas will remain important sources as the energy landscape evolves. Oil and gas will also be an enabler for Europe’s energy transition. The European upstream oil and gas industry is continuing efforts to improve efficiency and lower emissions.
A more efficient energy system
With oil consumption growing in the coming decades, led by rising demand for petrochemicals, trucking and aviation, the greatest focus for reaching climate goals will be on energy efficiency and new technologies, such as carbon capture and storage (CCS).
To learn more about our industry’s efforts towards higher efficiency and the dual challenge, see our climate position.
Energy is at the heart of every home and business in Europe: secure and affordable energy is what keeps our economy going. Meeting the world’s growing demand for energy presents a tremendous challenge that requires a long-term view, significant investment, and continued innovation.