Greenhouse gas (GHG) emissions are one of the major causes of rising global warming and the Oil & Gas industry accounts directly & indirectly for one-third of the global emissions. CO2, Methane & NOx gases form a major part of greenhouse gases which are released by burning Oil, Fossil Fuels, etc. Due to rising GHG emissions from companies, it became important among major contributing sectors to report gas emissions during their operations.
Exxon Mobil Corp (ExxonMobil) is an integrated oil and gas company that discovers, explores, develops and produces crude oil, natural gas and natural gas liquids. It carries out the refining of crude oil; produces, transports, trades and sells petroleum products; and manufactures lube base stocks and finished lubricants. The company also manufactures and markets commodity petrochemicals including olefins, aromatics, polyethylene and polypropylene plastics and a wide variety of specialty products. It operates through a network of manufacturing plants, transportation systems, and distribution centers.
Total GHG emissions (Scope 1 and 2) reported by ExxonMobil in 2020 were 114 million tonnes CO2 equivalents (MtCO2eq). ExxonMobil refineries have focused on energy efficiency and lower emissions. ExxonMobil plans to invest more than $15 billion in the next six years on lower-emission initiatives, including large-scale projects to lower greenhouse gas emissions.
GHG Emissions are generally classified into Scope 1,2 & 3 emissions. Scope 1 emissions are direct GHG emissions that occur from sources that are owned or controlled by the company, for example, emissions from combustion in owned or controlled boilers, furnaces, vehicles, etc. Scope 2 accounts for GHG emissions from the generation of purchased electricity consumed by a company. Scope 3 emissions primarily refer to the indirect emissions resulting from society’s need for and use of the Company’s products. ExxonMobil has recently started providing Scope 3 estimates. For 2020, ExxonMobil’s Scope 3 estimates were 540 MtCO2eq.
Don’t wait - discover a universe of connected data & insights with your next search. Browse over 28M data points across 22 industries.
Access more premium companies when you subscribe to Explorer