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Net zero ideas from many in oil and gas

Net zero ideas from many in oil and gas
September 10, 2020
Net zero ideas from many in oil and gas

In the 10 months since then, both BP (BP.) and Royal Dutch Shell (RDSB) have set similar targets - albeit with some differing definitions and end-points for emissions counting as their own - and other midcaps have jumped on board too. Premier Oil (PMO) has gone one further and said it would offset its carbon production from new, operated projects within a decade. The company has said it was in “good stead” to reach this goal, although the current environment does not lend itself to building new projects.

Premier will have an easier job of it than others being solely an upstream producer and only by offsetting scope 1 and 2 emissions - this is the carbon released from its operations and that from its sources of power. Scope 3 would mean working out an offset to cover all the carbon contained in the oil and gas it sells on as well, which is usually a far greater amount, although Premier has only included its business emissions in this category, relating to its offices and air travel.  

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