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ExxonMobil aims to reach net-zero emission in the Permian Basin by 2030

ExxonMobil plans to reach net-zero emission in the Permian Basin by 2030 as part of of it’s corporate plant or reduce upstream greenhouse gas emissions. This is part of the company-wide plan where  40-50% reduction in CO2 equivalent emission achieved by 2030 compared to the 2016 level.

Even if the Permian Basin plan gives hope for a climate consciousness oil production, it is important to note that this is only one geographic location where the company produces oil. The global operation includes Guyana, Indonesia, Papua New Guinea, and Qatar.

As far as the greenhouse emission is concerned, only the Scope 1 and the Scope 2 emission reduction are targeted while Scope 3 is monitored. According to Carbon Trust, the Scope 1 emission includes fuel combustion, company vehicles, and fugitive emissions. Scope 2 is purchased electricity, heat, and steam. While Scope 3 is among others purchased goods & services, waste disposal, use of sold products, transportation, and distribution. This means that the more than 2 million barrels/day of oil production does not count toward the calculated emission.

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One Comment

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