Below you can find all the winners from the 2022 Excellence Awards which celebrate the greatest achievements and innovations in the industry. The programme provides a platform to recognise the people and companies that are driving change.

Our programme is designed to highlight excellence within the sector by looking at a range of corporate activities including deals, business projects and company initiatives, both internal and in the community.

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You will also soon be able to download our full Awards & Rankings Report which includes all of this year’s rankings, as well as the awards winners, shortlists and company profiles.

Business Expansion

Business Expansion is one of our largest categories and looks at the core functions of business operations within the sector.

This consists of any projects that have expanded the company’s footprint in the sector, including: contract wins; launching in new territories; launching new product lines; the acquisition and expansion of facilities and real estate; acquisition of new machinery or other assets; improved logistics; partnerships; and significant staff increases.

Chevron Corporation wins the Business Expansion category award due to its efforts in exploring ways to produce sustainable fuels without increasing capital investment on refinery upgrades. This includes exploring ways to make renewable diesel, sustainable aviation fuel (SAF) and renewable gasoline.

The process, which is expected to avoid lengthy time delays for environmental approvals, would include the use of bio-based feedstocks such as partially processed biofuels with petroleum distillates and vegetable oils.


  • A.P. Moller – Maersk
  • Aker Holding
  • Blue Ocean Seismic Services
  • Chevron Corporation
  • Eni
  • Frontera
  • Hempel
  • Neptune Energy
  • PetroChina
  • Schlumberger


The Environmental category aims to highlight companies that are undertaking projects that reduce their impact on the natural environment or contribute to its general health. With the effects of climate change becoming ever more obvious, corporations have a responsibility to update and change their practices to prevent further damage being caused.

This category includes any projects that have led or will lead to a significant reduction in a company’s environmental impact and carbon footprint. This can include changes to materials and manufacturing, supply chain reviews; reduction in energy use or switches to renewables; recycling initiatives; and carbon offsetting. The category also includes projects that contribute to the environment such as tree planting schemes and river cleaning.

Baker Hughes wins the Environmental category award due to its development of a gas recovery project in Iraq. The project will be equipped to capture 200 million cubic feet per day (MMcf/d) of gas from the Nasiriyah and al-Gharraf fields for power generation.

The project forms part of the Iraqi ministry’s plan ‘to stop gas flaring in the coming years and increase clean energy production’.


  • Baker Hughes
  • GHGSat
  • Lundin Energy
  • McDermott
  • Neptune Energy
  • Phillips 66


Financing recognises companies and institutions that have raised significant capital during the research period whether it be through corporate finance, the capital markets or fund raising.

This includes any significant raising of finance by a company within the sector, this can include corporate lending, funding rounds and equity and debt capital markets issues including share offers and bond issues. We will be specifically looking at high value deals; novel structures; and companies using (for them) new forms of financing such as high-yield bonds.

Woodside Energy wins the Financing category award after raising significant funding for alternative and carbon-neutral fuels. Woodside has pledged $5bn worth of funding for decarbonisation technologies– including hydrogen and CCS – by 2030.

The series of investments will seek to progress clients’ decarbonisation efforts, with a focus on supporting emerging clean energy technologies.


  • Abu Dhabi National Oil Company
  • QatarEnergy
  • Woodside Energy


The Investments category looks at any significant financial investments into a company or its assets, specifically those investments that facilitate expansion of a company’s operations. This can be an investment by the company itself into its operations or by an outside investor be that another company, financial institution, private equity or venture capital firm.

Neste wins the Investments category award after it committed to investing $2bn in a Dutch renewable products refinery. The move comes as the Finnish biofuel producer intends to meet the increasing demand for renewable products as concerns intensify over climate change,

With the expansion project, the renewable products production capacity at the refinery is expected to increase to 2.7 million tons per annum (Mtpa), from the current 1.4Mtpa.


  • Atlantic, Gulf & Pacific Company
  • Neste
  • TotalEnergies
  • Woodside Energy


This category includes organisations that have expanded their business operations by entering into significant mergers and acquisitions deals within the sector.

The category specifically looks at the acquisitions of whole businesses or stakes rather than asset transactions and deals must have been closed during the research period.

Chevron wins the M&A award this year following its acquisition of Renewable Energy Group (REG). The deal allows the company to significantly expand its renewable fuels production. REG operates 11 biorefineries across the US and Europe.


  • Chesapeake Energy Corp
  • Chevron
  • Enterprise Products Partners
  • HF Sinclair Corp
  • JERA Co
  • Petroliam Nasional
  • Targa Resources Corp

Research and Development

This category includes organisations that have demonstrated a commitment to the research and development of new products and/or new processes. This can include discovering or creating a unique material, transferring a research or technology development to practice, improving the performance of an existing product or creating a new simulation or design tools.

The category also includes companies that have made significant investments into their R&D processes.

Technip Energies wins the Research and Development category award due to its partnership with carbon capture and storage (CCS) developer DeepC Store (dCS), and Mitsui OSK Lines in developing a CO₂ floating storage and injection (FSI) hub facility for the proposed CStore1 offshore project in Australia.

Said to be the first large-scale, offshore, multi-user hub, the dCS’ CStore1 Project will have a CO₂ injection capacity between 1.5Mtpa and 7.5Mtpa. Technip Energies will be responsible for exclusively providing front-end engineering and design (FEED) and EPC services for the FSI Hub while Mitsui will provide operation and maintenance services for the FSI Hub.


  • Neptune Energy
  • Talos Energy
  • Technip Energies