CORPORATE STRATEGY

ConocoPhillips' Transition Leans on Low-Carbon Barrels

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  • ConocoPhillips does not yet see a clear pathway to decent returns in carbon capture and storage (CCS) and hydrogen, but is positioning itself to understand those areas better.
  • The US independent, which has raised its 2030 emissions reduction target, instead aims to double the size of its global LNG footprint as a key pillar of its low-carbon strategy.
  • As next month's annual general meeting (AGM) draws closer, ConocoPhillips is still reluctant to set a target to reduce Scope 3, or end-use emissions from products.

The Issue

Topics:
CO2 Emissions, Carbon Capture (CCS), Corporate Strategy , Capital Spending, Independent E&Ps, ESG
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