Oil and gas majors have been divesting assets rather than optimising operations as the primary means for reducing their direct emissions footprint so far — a practice analysts described as “shifting emissions” around.

A comparison of company data detailing progress on emissions reduction from European and US oil majors, compiled by consultancy Rystad Energy, shows that most of the companies analysed have posted significant progress in their emission targets through 2030 to date, but raises questions over how this has been achieved.