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.
Petroleo Brasileiro SA (Petrobras) is an integrated company specializing in the oil, natural gas and energy industry. Its major businesses include exploration and production, refining, marketing, trade and transportation of oil and gas. The company also conducts biofuel, natural gas, petrochemical, electricity and chemical businesses, and oil product distribution. It is a major crude oil producer and refiner in Brazil and the South American continent. It also participates in the domestic power market through investments in thermoelectric power plants and renewable energy.
Total GHG emissions reported by Petrobras in 2021 were 497.6 million tonnes CO2 equivalents (MtCO2eq), which increased by 3% from 2020. Petrobras’s GHG emissions have increased by 12.1 MtCO2eq since 2018. The oil and gas company aims to reduce greenhouse gas emissions within a time compatible with the Paris Agreement.
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 form the major portion of total GHG emissions for Petrobras, accounting for 87.6% of total GHG emissions in 2021. According to Petrobras, Scope 3 GHG emissions include the emissions from suppliers and products.
Petrobras has taken several initiatives to reduce GHG emissions such as the “Neutral Carbon Program” to find a way for decarbonization with a budget of $248 million and the “All-Electric” concept for the electrification of equipment and applications in new oil and gas production facility.
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