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MOSCOW (MRC) -- Saudi oil giant Aramco
has excluded emissions generated from many of its refineries and petrochemical
plants in its overall carbon disclosures to investors, said Hydrocarbonprocessing.
The
world"s biggest oil company"s self-reported carbon footprint might nearly
double, adding as much as 55 million metric tons of carbon dioxide equivalent to
its annual tally, if those facilities are included, according to the
report.
Much of the omissions are because Aramco chooses to report data
from facilities it wholly owns and ones located inside the kingdom, Bloomberg
News said, while many of its refineries are joint ventures or located overseas.
Aramco said in a statement that it uses globally accepted guidelines to
report the data and has "a clear and deliberate path to increase the scope and
details of this disclosure."
The company said it would disclose this year
direct and indirect greenhouse gas emissions for 2020 from wholly-owned
operations in the kingdom and worldwide, subject to verification by a third
party.
Aramco"s 2019 emissions would have been between 75 million tons
and 113 million tons if missing emissions are included, according to Bloomberg
News" calculations based on data from a Nature Climate Change study published
last year.
Oil major Exxon Mobil Corp, under increasing pressure from
investors and climate change campaigners, said in December it planned to reduce
its greenhouse gas emissions over the next five years.
As per MRC, top
oil exporter Saudi Arabia has cut supplies
of February-loading crude for some Asian buyer by up to a quarter while meeting
requirements of at least four others. This comes after Saudi Arabia pledged
additional voluntary output cuts of 1 million barrels per day (bpd) in February
and March under a deal between the Organization of the Petroleum Exporting
Countries and its allies including Russia, a group known as OPEC+.
As MRC
wrote
previously, Formosa Petrochemical Corporation (FPCC) was running its
crackers in Taiwan at 100% capacity utilisation in end-December, 2020. The
company"s crackers have combined ethylene production capacity of 2.935 million
metric tons/year. Meanwhile, FPCC is planning overhaul of the smallest cracker
in mid-2021.
Ethylene and propylene are feedstocks for producing
polyethylene (PE) and polypropylene (PP).
According to MRC"s DataScope report, PE
imports to Russia decreased in January-November 2020 by 17% year on year and
reached 569,900 tonnes. High density polyethylene (HDPE) accounted for the
greatest reduction in imports. At the same time, PP imports into Russia
increased by 21% year on year to about 202,000 tonnes in the first eleven months
of 2020. Propylene homopolymer (homopolymer PP) accounted for the main increase
in imports.
Saudi Aramco, officially the Saudi Arabian Oil Company, is a
Saudi Arabian national oil and natural gas company based in Dhahran, Saudi
Arabia. Saudi Aramco"s value has been estimated at up to USD10 trillion in the
Financial Times, making it the world"s most valuable company. Saudi Aramco has
both the largest proven crude oil reserves, at more than 260 billion barrels,
and largest daily oil production. |
