The "Emissions Reduction Strategies Adopted by the Oil and Gas Sector - Analyzing Current Emissions by Oil and Gas Sector and Companies, Future Targets, Reduction Strategies and Carbon Pricing" report has been added to ResearchAndMarkets.com's offering
DUBLIN--(BUSINESS WIRE)--Sep 21, 2022--
A review of announced targets from 28 major oil and gas companies showed that nearly all have some kind of target for direct, scope 1 & 2 emissions. Meanwhile, less than half have any kind of target covering scope 3 emissions and less than a third aim to be net zero across all emission types by 2050.
The nine most active O&G companies in the energy transition have reported reductions in absolute emissions and emissions intensity in recent years. On the national level, carbon pricing is used in Europe and Canada, but in the US only certain states are covered, and the Middle East and Russia have no such schemes. Companies have started implementing internal carbon pricing schemes in regions where it is less commonplace.
The oil and gas sector is responsible for about 50% of energy-related emissions, with the vast majority arising from Scope 3 emissions. Of Scope 1 and 2 emissions, the largest proportion comes from upstream and downstream operations. Emissions reduction strategies of the 9 most active oil and gas companies were compiled and analysed. Aside from developing low carbon technologies, companies have also started to endorse carbon pricing as an effective emissions reduction measure.
Global oil and gas sector CO2 emissions in 2019
Future CO2 emissions from global oil and gas remaining lifetime of reserves
Emissions reduction targets and strategies of 9 selected oil and gas majors
Global emissions reduction strategies
Obtain the most up to date information on emissions reduction strategies in major oil and gas producing nations and companies
Understand the origins of different emissions throughout the oil and gas value chain
Assess your competitors' emissions reduction strategies and develop the most effective plan of action based on the trends in their absolute emissions and emissions intensities
Develop an understanding of the global carbon pricing scene
Executive Summary
Sector Emissions Overview
How much does the sector emit?
Emissions sources across the O&G value chain
Defining Emissions Categories
Benchmarking Company Targets
Where are emissions taking place?
Emissions breakdown by gas
Strategies and Carbon Pricing
The methane emissions opportunity
Common emissions reduction strategies
National plans
Carbon pricing worldwide
Internal carbon pricing
Company Analysis
Main emissions targets among selected O&G majors
Evaluating emissions targets
ExxonMobil
BP
ConocoPhillips
Chevron
Eni
Equinor
Repsol
Shell
TotalEnergies
Conclusions
Equinor
Repsol
Shell
ExxonMobil
TotalEnergies
BP
Chevron
ConocoPhillips
Eni
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SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 09/21/2022 10:08 AM/DISC: 09/21/2022 10:08 AM
http://www.businesswire.com/news/home/20220921005722/en