The Effects and Driving Factors of Low-Carbon Transition of International Oil Companies: Evidence from a Super-SBM Model

Xuwei Tang (), Qi Zhang, Chunxin Li, Haitao Zhang and Haiyun Xu
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Xuwei Tang: School of Economics and Management, China University of Petroleum-Beijing, Beijing 102249, China
Qi Zhang: School of Economics and Management, China University of Petroleum-Beijing, Beijing 102249, China
Chunxin Li: CNPC Economics and Technology Research Institute, Beijing 100120, China
Haitao Zhang: CNPC Managers Training Institute, Beijing 100096, China
Haiyun Xu: Petrochina Natural Gas Marketing Company, Beijing 100007, China

Energies, 2023, vol. 17, issue 1, 1-19

Abstract: As the main source of energy supply and carbon emissions, the oil and gas industry has entered the comprehensive low-carbon transition stage driven by various factors. Since different oil companies possess distinct understandings of transition paths, the effect of low carbon transition varies greatly. Obviously, it is necessary to evaluate the performance of low-carbon transitions within the oil and gas industry. Therefore, in this paper, 10 major international oil companies are taken as examples, and a super-efficiency slack-based measurement (super-SBM) model is applied in the present study to analyze the efficiency of low-carbon transitions. Furthermore, the logarithmic mean Divisia index (LMDI) is used to decompose the driving factors of carbon emissions and analyze their impact on the low-carbon transition of international oil companies. The obtained results reveal that although major oil companies have taken different measures in low-carbon transition and achieved a year-on-year reduction in carbon emissions, from the perspective of the efficiency of the entire production and operation process, these oil companies are inefficient in carbon emissions and need to adopt more effective low-carbon transition strategies; Moreover, after the further decomposition of the carbon emission driving factors of the 10 companies, it is found that improving the energy consumption intensity and development level of oil companies can effectively improve the effect of low-carbon transition of international oil companies. Drawing on the above findings, this paper puts forward suggestions for the low-carbon transition of energy companies, thus providing theoretical support and guidance for energy companies in different countries to implement low-carbon transition and green development strategies.

Keywords: international oil companies; super-SBM model; low-carbon transition; driving factors (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2023
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