How are O&G companies contributing to the energy transition?A novel analytical framework for assessing sustainability strategies

  1. Jaime Menéndez Sánchez 1
  2. Jorge Fernández Gómez 2
  3. Andrés Araujo de la Mata 3
  1. 1 University of Deusto) / University of the Basque Country (UPV/EHU
  2. 2 Universidad de Deusto

    Universidad de Deusto

    Bilbao, España


  3. 3 University of the Basque Country (UPV/EHU), GPAC
Ekonomiaz: Revista vasca de economía

ISSN: 0213-3865

Year of publication: 2021

Issue Title: Retos de la transición energética I · 2021 en el País Vasco para la próxima década

Issue: 99

Pages: 213-241

Type: Article

More publications in: Ekonomiaz: Revista vasca de economía


Oil and gas (O&G) companies are progressively developing and adopting sustainability strategies in response to regulatory and market pressures embedded in the energy transition process. The UN’s Sustainability Development Goals (SDGs) are strongly linked to energy transitions and key to achieving successful sustainability strategies. A novel analytical framework to evaluate sustainability strategies is proposed and applied to the case study of Petronor, a refining company in the Basque Country (Muskiz, Bizkaia). The analysis helps to assess how O&G companies contribute to the energy transition by focusing on the SDGs. This first application of this framework suggests that a comprehensive understanding of an O&G company’s sustainability efforts is needed to fully evaluate its role in the energy transition.

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