Oil and Gas Multinationals Tempt Investors to Stick Around Through the Transition

Published on November 9, 2020

Equinor Strategy Summit, Norway, 2019 – Executives of Equinor (formerly known as Statoil) were holed up in a room drinking hot chocolate after a day of skiing. Strategy staff members presented them with a list of unidentified companies (“Company 1,” “Company 2,” “Company 3”) along with historical and projected returns. One had 10% return ambitions; another roughly the same, etc. The executives were asked: Which companies do you think these are?  Shell? Ørsted? Exxon?

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