Abstract: In order to conform to the trend of global climate governance and energy structure transition, seven major international oil companies (IOCs) have proposed the goal of achieving carbon neutrality by 2050. Although European and American companies have great differences in the details of the goals, they have generally moved forward from strategic wait-and-see to strategic implementation in terms of the low-carbon transformation. Specifically, international oil companies have implemented practical measures such as significantly increasing investment in low-carbon and new energy businesses, rapidly deploying low-carbon and new energy businesses by M&A and direct investment,and developing low-carbon and new energy technology research and development by cooperation. At present, the main low-carbon and new energy development fields of international oil companies include wind power generation, solar power generation, CCUS and hydrogen energy. By considering China’s actual conditions and enterprises’ own characteristics, Chinese oil and gas companies should appropriately increase investment in low-carbon and new energy businesses on the premise of maintaining the core position of oil and gas business, focus on both carbon emission reduction and carbon utilization, rationally layout new energy business, and actively cooperate on technology research and development.