The greening of the oil industry’s asset portfolio

1 Stages of decarbonization
2 Starting physical carbon intensity (CI): Based on average emissions across the value chain of a barrel of oil equivalent
3 Includes low-carbon intensive biofuels, green or blue hydrogen, and electric vehicle charging among others.
4 American Petroleum Institute gravity is less than 35 of heavy and more than 35 of light in this example.
Source: Oliver Wyman analysis