How & why
Fundamental changes are happening in our industry—and faster than ever before. Geopolitical shifts, industry fundamentals, market dynamics and the need for a low carbon future are posing new challenges. Here we explain the reasoning behind our strategic direction.
In Statoil, we see these changes as opportunities to shape and improve the energy industry of tomorrow. We aim to set an example for how the oil and gas industry must develop, show leadership and point the way to bolder and better solutions.
We will actively shape our portfolio to deliver high value with a low carbon footprint. These principles guide us as we form a Statoil portfolio that remains fit for the future towards 2030 and beyond
We believe a low carbon footprint will make us more competitive in the future. We also believe there are attractive business opportunities in the transition to a low carbon economy.
Statoil wants to be a part of this transformation in order to fulfil our purpose of turning natural resources into energy for people and progress for society.
Our strategy focuses on high value and low carbon. Embedded in the strategy is a set of principles to guide our decision-making. One of these principles is that we should leverage our low carbon advantage.
Our Climate Roadmap explains how we plan to achieve this and how we will develop our business, in support of the ambitions of the Paris Climate Agreement.
By 2020 we expect up to 25% of research funds to be devoted to new energy solutions & energy efficiency
Aiming to achieve annual CO2 emission reductions of 3 million tonnes by 2030 compared to 2017.
By 2030 new energy has the potential to constitute around 15-20% of investments/annual capex