Major oil companies in the world have been directing investments in digital transformation with a focus on measuring and controlling carbon, according to a survey carried out by the consultancy Bip that evaluated the focus of the ten largest oil companies in the world on digital strategy.

The survey was carried out by the consultancy, based on the 2021 results reports, business plans and interviews with executives of large companies and showed that the ten largest oil companies in the world started to reinforce their positioning and investments in digital initiatives focused on low carbon and decarbonization.

Among the companies analyzed, 30% started to communicate the digital strategy for decarbonization as of 2021. Those that were already contemplating these strategies in previous benchmarking carried out by the consultancy represent 60% of those surveyed.

According to the consultancy's analysis, technologies and innovations focused on low carbon and decarbonization are being communicated by the big oil companies as a means to achieve defined strategies and remain competitive in the market. "The gains associated with the energy transition and decarbonization are being communicated with prominence by the big oil companies and the technologies are being presented as important allies to reach the goals", emphasizes Pedro Souza (photo), O&G leader at Bip consultancy. According to him, from 2021 onwards, the benefits of carbon control and measurement started to be communicated by all ten companies analyzed, with the incorporation of this topic in earnings reports and communicated to the market by five other oil giants.

In addition to decarbonization, other focuses of the digital strategy highlighted by the oil companies were the cross strengthening of the businesses and the core business and business innovation.