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Statoil number one in oil giants' climate battle

Major European oil companies triumph against US counterparts in the transition to a future with fewer CO2 emissions. However investments which are more climate friendly remain on the backburner.

Norway's Statoil has the oil industry's best climate strategy. This is the conclusion at organization Carbon Disclosure Project (CDP) in a new analysis, whereby 11 of the world's largest oil and gas companies have been ranked relative to how prepared they are for a fossil-free future. The ranking is based on five parameters, which range from energy source combinations to investments in climate-friendly technologies.

"Statoil performs strongly across most key areas," concludes the organization, with reference to the Norwegians' strong gas portfolio, the lowest upstream emissions intensity and better management of methane gas and flaring emissions relative to its peers.

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