Developing frameworks for managing low-carbon energy transitions: overcoming barriers to implementation in the oil and gas industry
Independent Researcher, Lagos, Nigeria.
Review Article
Magna Scientia Advanced Research and Reviews, 2021, 01(03), 068-075
Article DOI: 10.30574/msarr.2021.1.3.0020
Publication history:
Received on 27 January 2021; revised on 26 March 2021; accepted on 29 March 2021
Abstract:
The oil and gas industry are critical in the global effort to combat climate change, requiring a strategic shift toward low-carbon energy systems. This paper explores the barriers impeding such transitions, including economic, technological, and regulatory challenges, as well as industry-specific resistance to change. By examining these obstacles, it proposes frameworks grounded in adaptability, transparency, equity, and collaboration. Strategic approaches such as policy integration, stakeholder engagement, and innovation are essential for overcoming these barriers. The paper highlights successful transitions' significant economic, environmental, and social benefits, drawing insights from real-world examples demonstrating scalability and feasibility. Actionable recommendations for stakeholders and future research directions are presented to guide the oil and gas industry's journey toward decarbonization. The industry can contribute meaningfully to a sustainable energy future by addressing these critical challenges while maintaining economic viability and social responsibility.
Keywords:
Low-Carbon Energy Transition; Oil and Gas Decarbonization; Policy Integration; Renewable Energy Innovation; Stakeholder Engagement
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Copyright © 2021 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0