Energy Transition – Oil and Gas Supermajors

Who are the Oil & Gas Supermajors?

In this report, we analyze the invention and innovations being made in the critical technologies powering the energy transition. The seven supermajors we examine are:

• BP
• Chevron
• ConocoPhilips
• Eni
• ExxonMobil
• Shell
• Total Energies.

Key messages from our updated report

• The balance of competitive advantage for energy producers is shifting from hydrocarbon resource access to ownership of the underlying technologies that are enabling the energy transition. TotalEnergies’ out-performing pace of innovation sets it apart from its supermajor peers. Its sustainable energy innovation areas of focus are batteries and photovoltaics.
• There is a relatively low level of patenting from supermajors compared to leaders in other industries and compared to the big oilfield service providers. This points to a continued strategy of reliance on third-party innovation that looks set to continue with the development of renewable low-carbon energy resources.
• Supermajors’ innovation has been weighted towards technology areas associated with the categories of Materials, Mechanical and Sensors & Optics. This includes more downstream business-focused innovation in chemicals, polymers, gases, and liquid processing and some upstream-focused innovation weighted to drills.