Oil and gas (O&G) companies, as key players in the contemporary global energy landscape, have evolved within the context of a dynamic interaction between states and markets. However, their role is being transformed radically by two successive “global shifts”: economic globalization—driving energy demand growth patterns—and climate change—driving energy system transformation and decarbonization, both of which require them to reconsider their business strategies. Using an interdisciplinary lens that draws on human geography, strategy and international business, and international political economy, we propose an integrated conceptual framework for two periods—the 1990s–early 2010s and the post-Paris Agreement era—to explore the nature of strategic responses by O&G companies to these global economic and environmental shifts. We illustrate the linkage of O&G companies' two strategies of (re-)globalization and decarbonization by the aspects of production, finance, and knowledge as internal structures. Energy security is one of the priorities in the macro external environment. It is becoming increasingly difficult for O&G companies to deal with current dilemmas: climate goals require a significant reduction in fossil fuel production and consumption, and pressures from governments, nongovernmental organizations, and investors threaten the long-term survival of O&G companies, while fossil fuel demand will remain high in the short to medium term. At the same time, the post-pandemic recovery and Russia's war in Ukraine are resulting in a re-assessment of the benefits of unfettered globalization. Therefore, global O&G companies face dual challenges in the new era of (re-)globalization and decarbonization and need to make changes to ensure their future viability.

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全球化和脱碳：全球石油和天然气公司的战略变化

石油和天然气 (O&G) 公司作为当代全球能源格局的关键参与者，在国家与市场之间动态互动的背景下不断发展。然而，它们的角色正在因两个连续的“全球转变”而发生根本性转变：经济全球化——推动能源需求增长模式——以及气候变化——推动能源系统转型和脱碳，这两者都要求它们重新考虑自己的商业战略。我们利用人文地理学、战略和国际商务以及国际政治经济学的跨学科视角，提出了一个适用于 20 世纪 90 年代至 2010 年代初以及《巴黎协定》时代这两个时期的综合概念框架，以探索战略反应的本质油气公司应对这些全球经济和环境变化。我们通过生产、财务和知识作为内部结构来说明油气公司（再）全球化和脱碳两种战略的联系。能源安全是宏观外部环境的重点之一。油气公司应对当前困境变得越来越困难：气候目标要求大幅减少化石燃料生产和消费，来自政府、非政府组织和投资者的压力威胁着油气公司的长期生存，而化石燃料中短期内需求仍将保持高位。与此同时，疫情后的复苏和俄罗斯在乌克兰的战争正在导致人们重新评估不受约束的全球化的好处。因此，全球油气公司在（再）全球化和脱碳新时代面临着双重挑战，需要做出改变以确保未来的生存能力。