Oil and gas companies, positioned at the forefront of the climate issues, are under substantial external pressure to adjust their strategies in response to the low-carbon agenda. The article draws on institutional theory to explore how do O&G companies’ response to external sustainability pressures and change its’ strategic behavior. By examining strategies and portfolios, the study identifies key patterns of strategic responses: O&G-focused, energy-focused, and renewable energy sources (RES)-focused. Each of the pattern characterize specific response that is realized through implementing low-carbon strategies using low-carbon visions, goals, low-carbon products and projects, which result in a specific scenario of low-carbon transformations.