With increasing focus on net-zero targets, including scope 3 emissions, many oil and gas companies are revaluating their portfolio mix. At the same time, returns on cleantech investments have been much higher than oil and gas. And ESG goals are driving investors away from oil and gas investments. Many large IOCs are accelerating low-carbon investments while significantly reducing oil and gas exploration and investments in new projects. Prior attempts to restructure the portfolio have been largely unsuccessful. What is different this time? What would be the ideal portfolio mix for an energy company? With the recent run-up in oil and gas prices, is it a good strategy to reduce oil/gas investments? What skills will oil and gas companies need to transform themselves into energy companies? What role will financial institutions have in accelerating this transition?