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. A substantial amount of greenhouse gases emitted by burning oil, fossil fuels, and other sources include CO2, methane, and NOx. It has become increasingly vital for major contributing industries to record greenhouse gas emissions throughout operations, as corporate GHG emissions have increased.
GHG emissions are generally classified into Scope 1, Scope 2, and Scope 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 refers to the company's other indirect emissions, which arise from sources that the company does not own or control.
PetroChina, Petrobras, and Saudi Aramco are major oil and gas companies with a significant amount of Scope 1 emissions. Oil and gas companies are focusing on reducing their Scope 1 emissions as it occurs due to the direct operational activities of companies such as onsite fuel combustion, flaring, venting, and fugitive emissions.
PetroChina, a subsidiary of China National Petroleum Corporation, is a leading Scope 1 greenhouse gas emitter. In 2021, PetroChina’s Scope 1 emissions accounted for 121.4 million tonnes CO2 equivalents (MtCO2eq) which is 76% of PetroChina’s total GHG emissions. To reduce GHG emissions, the oil and gas company is working on new energy such as geothermal, solar, wind, and hydrogen energy and has installed 57,500 KW capacity of wind and solar power in oil and gas fields in 2021.
Petrobras, a Brazil-based leading oil and gas company, is the second-largest contributor to Scope 1 emissions. In 2021, Petrobras’ direct emissions were around 61.4 MtCO2eq, accounting for 12.3% of Petrobras' total GHG emissions. To promote sustainability, the oil and gas firm has committed around $248 million in decarbonization through its "Neutral Carbon Program."
Saudi Aramco, a state-owned energy company, is one of the largest greenhouse gas emitters. In 2021, Scope 1 emissions form the majority of Aramco's overall GHG emissions, accounting for 76% of its total GHG emissions. Saudi Aramco began developing the Jafurah unconventional gas field in 2021 to support Saudi Arabia's goal of producing half of its power from gas and the remainder from renewables, which will help the country's aim of promoting clean energy.
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