Greenhouse gas (GHG) emissions are one of the main causes of rising global warming, and the oil and gas industry contributes to one-third of world emissions. CO2, methane, and NOx gases make up a large portion of greenhouse gases emitted by burning oil, fossil fuels, and other sources. Due to rising GHG emissions from companies, it became important among major contributing sectors to report gas emissions during their operations.
Oil and Natural Gas Corp Ltd (ONGC) is an integrated energy company operating along the hydrocarbon value chain. It discovers, produces, refines, and markets oil and gas. Total GHG emissions reported by the oil & gas company were 11.2 million tonnes CO2 equivalents (MtCO2eq) in 2020, which increased by 5.1% from 2019. The oil and gas company is committed to bringing a significant reduction in its GHG emissions in alignment with the Paris Agreement on Climate Change.
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. Scope 2 (Indirect GHG emissions) accounts for GHG emissions from the purchased or acquired electricity, steam, heat, and cooling by the company. Scope 3 is the other indirect emissions result of the company’s activities, but they come from sources that the company does not own or control.
In 2020, Scope 1 emissions form the major portion of ONGC’s total GHG emissions, accounting for around 95% of total GHG emissions. During the same period, the company’s Scope 1 emissions have reduced by around 5.8% and Scope 2 emissions have decreased by around 5.7% in YoY. ONGC has not disclosed its Scope 3 emissions.
ONGC is working on new energy such as solar, wind, and hydrogen to promote clean energy and reduce GHG emissions. In 2020, the company has a total installed capacity of solar projects recorded at 25 MW, and another 25 MW of solar PV projects are under construction.
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