Abstract: The Lowcarbon economy is a new economy development model with characteristics of low energy consumption，low pollution and low emission，which puts forward three requirements to the economy development of our country.These requirements are both opportunities and challenges to oil corporations.We cannot ignore the impact of the development and utilization of lowcarbon energy on highcarbon energy market，such as，oil and natural gas market，the impact of the determination of national carbon emissions reduction targets on the petroleum and petrochemical production processes，or the impact of carbon tariffs policies in the developed countries.However，the lowcarbon economy can not only prompt the industrial structure adjustment of the oil industry and the development of new energy sources but also prompt changes in the international competition.Based on the reality of oil corporations，the authors think oil corporations should timely convert the use of oil，improve oil production technology，actively participate in new energy industry，establish carbon exchange mechanism and make full use of CDM mechanism so as to maintain longterm sustainable development.

Key words: oil industry, low carbon economy, new energy, carbon emission, new economic model