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PRESENTATION OUTLINE
• Introduction
• Global Energy Transition Trends
• Impacts on Petroleum Industry
• Government Polices and Initiatives
• Future Scenarios and Adaption Strategies
• Case Study
• Summary and Conclusion
INTRODUCTION
• Energy Transition refers to the global shift from fossil-based energy
systems to renewable energy sources, driven by concerns over
climate change and sustainability.
• This transition refers to long-term structural change to energy
systems, aiming to reduce energy-related greenhouse gas emissions
through various forms of decarbonization.
• Historically energy transition has occurred in the past, such as the
transition from using wood to coal in the 19 th century or from coal
to oil in the 20th century. However, the current energy transition is
distinguished by the urgency to combat climate change and the need
to do it as quickly as possible.
• Energy Transition, therefore requires the movement or reduced
dependence on conventional fossil fuel sources of energy to meet
energy requirements. Globally, a large percentage of our energy
demands are met by fossil fuel sources of coal, crude oil and natural
gas.
• Oil and gas companies should embed business sustainability as a
driver toward energy transition.
• To navigate the energy transition, oil and gas companies must also
implement talent management strategies that promote a culture of Fig 1: The Future of Petroleum in a Green World -
innovation and sustainability. Energy transition: The Future of Petroleum in a
GLOBAL ENERGY TRANSITION TRENDS
Fig 2: Progress of current energy transition to renewable energy

IMPACTS ON PETROLEUM
Fig 3: Portfolio of Oil and Gas Companies in Light of Energy Transition

GOVERNMENT POLICIES AND
INITIATIVES
Fig 4: Possible Government Initiatives and Polices Towards Energy Transition

FUTURE SCENARIO AND ADAPTATION
STRATEGIES
Fig 5: The dimensions of sustainability and their interrelationships (Kolagar et al., 2020).
CASE STUDY
BEING THE TEXT OF THE 51ST FOUNDERS’ DAY
LECTURE OF THE UNIVERSITY OF BENIN TITLED:
GLOBAL ENERGY TRANSITION AND THE IMPERATIVES
FOR NIGERIA DELIVERED BY THE MANAGING
DIRECTOR, THE SHELL PETROLEUM DEVELOPMENT
COMPANY OF NIGERIA LIMITED AND COUNTRY CHAIR,
SHELL COMPANIES IN NIGERIA, OSAGIE OKUNBOR, ON
THE 23RD OF NOVEMBER 2021.
CASE STUDY: INTRODUCTION
The First Energy Transition: Biomass to Coal
• Previous energy shifts have unfolded over mankind’s civilisation. According to the World Economic Forum,
“a transition is not an abrupt change from one ‘reality’ to another, but rather a shift that unfolds
generationally over considerable time, and one that may lead to greater diversity in the energy
marketplace”.
• More than 400,000 years ago, humanity began using biomass - primarily wood but also crop remnants and
animal waste for fuel. Wood was an intuitive fuel; it was readily available, and the use of biomass as a
source of energy would eventually retain its dominant role in the energy mix for thousands of years.
The Second Energy Transition: The Demand for Oil and Gas
• In the nineteenth century, specifically 1859, oil was found in Pennsylvania, United States and its virtues
were immediately clear. Kerosene, an oil distillate, became extremely popular in lighting lamps and
providing illumination to many households. In the areas of energy density, adaptability, ease of transport
and flexibility, humans were gradually turning to oil instead of coal. Imagine the sheer labour required to
shovel coal. All of that was not needed with the advent of oil.
• John D. Rockefeller, an American, born in July 1839, founded Standard Oil in 1870 and concentrated his
business on oil refining. His wealth, soared as kerosene and gasoline grew in importance, eventually making
him the richest man in the world as he controlled some 90% of all oil in the United States at its peak.
CASE STUDY
Fig 6: Reducing Absolute Carbon Emission. Source: Shell Energy Transition Strategy 2021
SUMMARY AND CONCLUSION
• The seminar highlighted the importance of energy transition and the need for the
petroleum industry to evolve and adapt. While the industry has traditionally relied
on fossil fuels, it is now imperative for companies to embrace sustainability and
play an active role in the energy transition.
• By diversifying their energy portfolios, investing in cleaner technologies, and
collaborating with other stakeholders, petroleum companies can position
themselves for long-term success in a low-carbon future.
• It is crucial for the industry to prioritize research and development, innovation, and
operational efficiency to reduce environmental impact and remain competitive.
• Overall, the seminar emphasized that the future of the petroleum industry lies in its
ability to adapt, embrace sustainability, and contribute to a cleaner energy system.
By proactively addressing the challenges posed by the energy transition, the
industry can play a significant role in shaping a sustainable and resilient future for
the global energy landscape.

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PRESENTATION OUTLINE

Fig 2: Progress of current energy transition to renewable energy

Fig 3: Portfolio of Oil and Gas Companies in Light of Energy Transition

Fig 4: Possible Government Initiatives and Polices Towards Energy Transition

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