The Saudi Arabian Oil Company Aramco has published its first sustainability report, which outlines ways in which the Company plans to further tackle emissions while delivering reliable, affordable energy solutions. The report, which the Company expects to update on an annual basis, provides further information on Aramco’s efforts to support the broader energy transition, with a set of interim targets the Company aims to achieve by 2035. The report’s release follows the Company’s announcement of its ambition to achieve net-zero Scope 1 and Scope 2 greenhouse gas emissions across its wholly-owned operated assets by 2050.By 2035 Aramco aims to reduce its Upstream carbon intensity, already one of the lowest in the industry, by 15% to 8.7kg of CO2 equivalent per barrel of oil equivalent, against a 2018 baseline of 10.2kg CO2e/boe.The Company also aims to reduce or mitigate net Scope 1 and Scope 2 GHG emissions across its wholly-owned operated assets, both in its Upstream and Downstream segments, by more than 50 million tonnes of CO2e annually by 2035, when compared to the business-as-usual forecast.Aramco is harnessing the Circular Carbon Economy framework, which focuses on reducing, reusing, recycling and removing GHG emissions. By 2035, it aims to achieve emissions reduction and mitigation through1. Renewables investment - 14 million tonnes of CO2e reduction annually2. Investing in Carbon Capture, Utilization and Storage- 11 million tonnes of CO2e reduction annually3. Energy efficiency improvements - 11 million tonnes of CO2e reduction annually4. Methane and flaring reduction - 1 million tonnes of CO2e reduction annually5. Offsets- 16 million tonnes of CO2e mitigation annuallyThe report also outlines the Company’s focus on developing its blue ammonia and hydrogen business, with the aim of producing up to 11 million tonnes of blue ammonia per year by 2030, with the potential to support significant emissions reductions in hard-to-decarbonize sectors such as heavy-duty transport, heating, and industrial applications.
The Saudi Arabian Oil Company Aramco has published its first sustainability report, which outlines ways in which the Company plans to further tackle emissions while delivering reliable, affordable energy solutions. The report, which the Company expects to update on an annual basis, provides further information on Aramco’s efforts to support the broader energy transition, with a set of interim targets the Company aims to achieve by 2035. The report’s release follows the Company’s announcement of its ambition to achieve net-zero Scope 1 and Scope 2 greenhouse gas emissions across its wholly-owned operated assets by 2050.By 2035 Aramco aims to reduce its Upstream carbon intensity, already one of the lowest in the industry, by 15% to 8.7kg of CO2 equivalent per barrel of oil equivalent, against a 2018 baseline of 10.2kg CO2e/boe.The Company also aims to reduce or mitigate net Scope 1 and Scope 2 GHG emissions across its wholly-owned operated assets, both in its Upstream and Downstream segments, by more than 50 million tonnes of CO2e annually by 2035, when compared to the business-as-usual forecast.Aramco is harnessing the Circular Carbon Economy framework, which focuses on reducing, reusing, recycling and removing GHG emissions. By 2035, it aims to achieve emissions reduction and mitigation through1. Renewables investment - 14 million tonnes of CO2e reduction annually2. Investing in Carbon Capture, Utilization and Storage- 11 million tonnes of CO2e reduction annually3. Energy efficiency improvements - 11 million tonnes of CO2e reduction annually4. Methane and flaring reduction - 1 million tonnes of CO2e reduction annually5. Offsets- 16 million tonnes of CO2e mitigation annuallyThe report also outlines the Company’s focus on developing its blue ammonia and hydrogen business, with the aim of producing up to 11 million tonnes of blue ammonia per year by 2030, with the potential to support significant emissions reductions in hard-to-decarbonize sectors such as heavy-duty transport, heating, and industrial applications.
