GCC upstream carbon emissions could increase 30% by 2030 if steps are not taken

SourceArabian Industry
SectorOil & Gas
CountryGCC

The era in which oil and gas (O&G) companies must demonstrate the carbon-neutral operational capacity of new portfolio assets looms ever-closer, and GCC operators must act now to establish sustainable decarbonization strategies, according to a new report by Boston Consulting Group (BCG).

The report, titled ‘A Decarbonization Roadmap for Upstream Oil and Gas,’ explains how firms can reduce their carbon footprint in response to pressure from stakeholders and regulators, build a stronger brand, and drive evolution across the industry.Data from BCG’s proprietary decarbonization tool show that total upstream value chain emissions from GCC based O&G companies are equivalent to almost a third of the total emission contributions from the GCC. Hydrocarbon combustion for own use-power generation and venting during gas processing stand ...read more...