Imperial College London
Alternate

DrRaphaelSlade

Faculty of Natural Sciences, Centre for Environmental Policy

Snr Research Fellow (IPCC Working Group III Head of TSU Sci)
 
 
 
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Contact

 

+44 (0)20 7594 7306r.slade

 
 
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Location

 

405Weeks BuildingSouth Kensington Campus

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Summary

 

Publications

Citation

BibTex format

@article{Bricout:2022:10.1016/j.erss.2022.102634,
author = {Bricout, A and Slade, R and Staffell, I and Halttunen, K},
doi = {10.1016/j.erss.2022.102634},
journal = {Energy Research and Social Science},
title = {From the geopolitics of oil and gas to the geopolitics of the energy transition: Is there a role for European supermajors?},
url = {http://dx.doi.org/10.1016/j.erss.2022.102634},
volume = {88},
year = {2022}
}
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RIS format (EndNote, RefMan)

TY  - JOUR
AB  - The energy transition is changing the corporate positioning of European international oil companies (IOCs). Developments such as Russia's invasion of Ukraine in 2022 and the gas market volatility of 2021 have brought energy geopolitics to the fore and further complicated the landscape in which these companies operate. By combining data from literature and semi-structured interviews with key experts, this work explores how the influence of the European IOCs on the geopolitics of oil, gas, and renewable energy sources might evolve in the transition. We find that European IOCs continue to have geopolitical influence, but it has been diminished by the rise of national oil companies. If fossil fuels are phased down globally, the reduction in oil activities of these companies is likely to further reduce their geopolitical power. While European IOCs may continue to be active in the gas market, this is unlikely to render them significant geopolitical influence given that they may become common rather than dominant market players. The same is true for the IOCs' role in renewable energy markets, although here European IOCs may seek to gain more influence by becoming significant intermediaries and global experts. As the energy transition progresses, many experts expect the political and market landscape around energy to become more fragmented, reducing the overall geopolitical influence of IOCs. Recent events such as the war in Ukraine do not change the overall conclusions, although it remains to be seen whether they will slow down or speed up the IOCs' involvement in the energy transition.
AU  - Bricout,A
AU  - Slade,R
AU  - Staffell,I
AU  - Halttunen,K
DO  - 10.1016/j.erss.2022.102634
PY  - 2022///
SN  - 2214-6296
TI  - From the geopolitics of oil and gas to the geopolitics of the energy transition: Is there a role for European supermajors?
T2  - Energy Research and Social Science
UR  - http://dx.doi.org/10.1016/j.erss.2022.102634
UR  - https://www.sciencedirect.com/science/article/pii/S2214629622001384?via%3Dihub
UR  - http://hdl.handle.net/10044/1/96936
VL  - 88
ER  -
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