Who are the Oil & Gas Supermajors?
In this report we analyse the invention and innovation 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.
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