Oil majors vow energy transition - at their own pace ...Middle East

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Oil majors vow energy transition - at their own pace
source : Daily Sun ( Middle East ) () 13
PARIS: Oil majors are under growing pressure to stop drilling for crude to help curb climate change, but companies say they will wean themselves off fossil fuels at their own pace.The demand for change is coming from many sides: lawsuits, shareholders and the International Energy Agency have all turned up the heat on firms recently.Last week alone, a Dutch court ordered Shell to slash its greenhouse gas emissions, and investors used shareholder meetings to install activist board members at US oil giant ExxonMobil and demand deeper emissions cuts at rival Chevron.The IEA sent shockwaves through the industry last month when it declared that no fossil fuel exploration or new oil and natural gas

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