Imperial Oil to reduce 30% oil sands emission intensity by 2030

Reuters
·1 min read
FILE PHOTO: View of refinery near Enbridge's Line 5 pipeline, in Ontario

(Reuters) - Canada's Imperial Oil Ltd aims to reduce greenhouse gas (GHG) emissions intensity from its oil sands operations by 30% by the end of 2030, compared with 2016 levels, the company said on Wednesday.

It plans to reduce Scope 1 and 2 emissions intensity through implementation of newer technologies at its Cold Lake operation in Alberta, efficiency improvements at its facilities and the use of carbon capture and storage.

The Calgary-based energy company also reaffirmed its goal to achieve net zero Scope 1 and 2 GHG emissions in its oil sands operations by 2050.

Scope 1 refers to emissions from a company's direct operations such as a diesel generator on an offshore platform, while Scope 2 are emissions from the power a company uses, such as gas-powered electricity purchased.

Imperial, which is majority-owned by Exxon Mobil, is part of Canadian oil sands producers alliance formed last year to achieve net-zero greenhouse gas emissions from their operations by 2050, as the cash-rich firms come under pressure to meet the country's goal on energy transition. (https://reut.rs/3GqoBqa)

Exxon on Tuesday also pledged to cut to zero its net carbon emissions from its global operations by 2050, a step in the direction of rivals minimizing their carbon footprints.

(Reporting by Arunima Kumar in Bengaluru; Editing by Shailesh Kuber)

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