To successfully decarbonise in a 'Net Zero' world, the downstream oil sector will need to make big changes to how it has traditionally operated, manufactured and marketed its products.
Much of what could achieve widespread decarbonisation in the sector as well as developing new low-carbon products will require substantial investments of time, personnel, capital and business leadership.
Governments - by setting regulatory standards and setting either a welcoming or hostile business environment - have a critical role in shaping how industry may make those investments and how companies balance their decisions between risk and opportunity in a global marketplace.
Working in partnership, industry and government can identify where changes to the existing policy framework could unlock the potential for decarbonisation across the downstream oil sector.