The paper studies energy and economic forecasts and scenarios of the post-COVID future that are developed by the leading European and American oil companies. It compares the different perceptions of the climate policy and low-carbon solutions by the EU and US majors. The author reviews specific decarbonisation efforts taken by Total and Equinor during COVID-19 pandemic, i.e. development of renewables, carbon capture and storage, hydrogen production, promotion of electric mobility, etc. Evidently, the new “net zero by 2050” strategy of the European oil companies entails a radical transformation of their business models: they are evolving from vertically-integrated oil companies into broad energy companies. By contrast, ExxonMobil and Chevron continue to focus on traditional oil and gas activities and simply aim at enhancing energy efficiency and reducing carbon intensity of their operations and products.