In 2025, the reordering of the energy transition became more defined as many oil and gas companies scaled back ambitions beyond their core businesses, reinforced by policy signals from the Trump administration. Solar and onshore wind continued to grow steadily, while green hydrogen and offshore wind faced delays and rising costs that slowed their momentum. CCUS continued to advance, but approvals, FIDs, and project cancellations proved more challenging than expected, as interest increased in geothermal and lithium. This note summarizes the key 2025 developments in oil and gas decarbonization and CCUS and highlights areas to watch in 2026.

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