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Carbon emissions reduction requires rigorous compliance to net zero strategies
The carbon-intensive oil and gas industry is undergoing massive disruption with more countries and companies trying to implement net zero emissions by 2050. However, tackling emissions and supporting low-carbon industries will require a combination of well-designed regulation and increased investment in decarbonisation, according to GlobalData, a leading data and analytics company.
Greenhouse gas (GHG) emissions generated by oil and gas operations—also known as Scope 1 & 2 emissions—were reportedly accounted for 15% of the total energy-related emissions worldwide in 2022. A further 40% of the energy-related emissions came from the use of oil and gas for power generation, heating, vehicle fuel, and industrial processes, also known as Scope 3 emissions. Against this backdrop, developed countries are aiming for net zero by 2050 while developing countries like China and India are aiming for 2060 and 2070, respectively.
GlobalData’s thematic report, “Net Zero Strategies in Oil & Gas,” provides an overview of the efforts to mitigate emissions from the oil and gas industry. It benchmarks leading companies, such as BP, Equinor, ExxonMobil, TotalEnergies, and Shell, based on their emissions and net zero commitments.
Ravindra Puranik, Oil and Gas Analyst at GlobalData, comments: “Oil and gas companies are currently working to reduce scope 1 and 2 emissions, generated by their operations. Several leading companies have set themselves the target to reach operational net zero emissions by 2050. To achieve this, companies are focusing on adopting new technologies, such as low-carbon hydrogen, carbon capture and storage; and making other operational changes like building renewable energy and biofuels capacities.”
The 2021 United Nations Climate Change Conference (COP26) conference had called upon the participating countries to develop long- term net zero strategies. The COP27 summit of 2022 encouraged countries to consider nature-based solutions. The upcoming COP28 summits hopes to make grounds to fast-track energy transition and significantly reduce emissions before 2030.
Barbara Monterrubio, Energy Transition Managing Analyst at GlobalData, comments: “To support global commitments towards climate change, countries and regulatory bodies have started introducing emissions trading systems or enhancing existing ones. This is pushing companies to strengthen internal targets and diversify their portfolios into clean and sustainable products and technologies. Even when the mitigation strategies approached by each company are different, they all converge on reducing emissions intensity and cutting operational emissions, reduce and stop flaring and include renewable technologies.”
Most net zero targets set by oil and gas companies cover Scope 1 and 2 emissions. To reduce Scope 3 emissions, oil and gas companies are switching their products to lower-carbon sources of energy including hydrogen, LNG, biofuels, and renewables.
Monterrubio concludes: “Even when a fast progress is being made in tackling upstream and downstream emissions, switching to low carbon products is a long-term process, with many oil and gas majors in the early stages of their energy transition strategy. A combination of well-designed regulations as well as huge investments are needed to tackle emissions and support low-carbon industry.”
Servomex fills three key roles to
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Having joined Servomex in 2009, Satish Vaddi has been based in Saudi Arabia for the past 14 years. He will report directly to VP Global Sales Director SangWon Park, who said: “Satish has shown great dedication and loyalty to Servomex. He’ll be working closely with customers in the region to support them, and to develop the growth opportunities here.”
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With more than 30 years of experience in analytical instrumentation and key technical sales roles, David Ramby is moving from his previous role as Analytical Product Manager for Rawson/Industrial Controls. Based in Houston, Texas, he will report to John McCormick, VP Sales, Americas, who said: “David will be focused on growing Servomex products and services, building direct relationships with key customers, and managing channel partner, Detection and Measurement Systems. “I am confident that David’s extensive experience and technical expertise will allow him to be successful in this role, and I am excited to begin working with him.”
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An experienced analytical chemist, Robbert Steenbergen has worked in a variety of roles, including Applications Technologist, Service Manager, and most recently Business Manager. He previously spent 4½ years at Servomex as Technical Inside Sales. He will report directly to Mark Calvert, Global Head of Service, who said: “Robbert has a passion for Lean Six Sigma, which puts him in a great position to excel in this new role and delight our customers. He will be responsible for the Europe, Africa, and India (EAI) Service Team, with a focus on operational excellence and increased efficiencies to improve our service operations and delivery.”
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61448pr@reply-direct.com nke Group announces the acquisition of Aquaread (UK)
nke Group have announced the acquisition of Aquaread, the globally renowned water quality measurement and monitoring company. This transaction marks an important step in nke group’s growth and development and paves the way for significant new opportunities and synergies. The acquisition of Aquaread fits in perfectly with nke group’s development. The products and services offered by Aquaread are highly complementary to those of nke Instrumentation, creating a synergy that will benefit its customers, partners, and employees. This natural fit will also enable nke Group’s customers to benefit from a broader range of products while maintaining the standards of excellence that characterise our company. This acquisition also strengthens our ability to innovate and provide global solutions to meet our customers’ present and future needs. Aquaread now operates as a subsidiary of nke group, preserving both its brand and identity.
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Mr Alain Boschet, CEO of nke group, said: “We are delighted to complete this acquisition, which will unlock significant synergies, not only by strengthening our product portfolio but also by creating new business opportunities through complementary distribution networks and merged R&D expertise. “
Mr Craig Harrison, CEO of Aquaread said: “This is an exciting time for Aquaread as we join forces with nke group. This transaction opens up new opportunities for our products and our people, and we are confident that it will strengthen our position in the market. We look forward to working closely with the team at nke group.”
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61299pr@reply-direct.com 82.8% OF CHINA’S SOIL IS CONTAMINATED
WHILE CHILDREN MAKE UP 10% OF THE WORLD’S POPULATION, OVER 40% OF DISEASES FALLS ON THEM. MORE THAN 3 MILLION CHILDREN UNDER AGE FIVE DIE ANNUALLY FROM ENVIRONMENTAL FACTORS
strengthen their sales and service teams Servomex has announced three new appointments to key roles in its global sales and service teams. Satish Vaddi has been promoted to General Manager – Middle East LLC, David Ramby joins Servomex as Key Account Manager for the US, and Robbert Steenbergen returns to the company as Service Manager – Europe.
IT TAKES 450 YEARS FOR AVERAGE SIZED PLASTIC WATER BOTTLES TO FULLY DECOMPOSE
61455pr@reply-direct.com THE OCEAN ABSORBS NEARLY 30% OF GLOBAL CARBON EMISSIONS
ACCORDING TO A RECENT REPORT FROM THE INTERGOVERNMENTAL PANEL ON CLIMATE CHANGE (IPCC) ON THE STATE OF OUR CLIMATE, THE PAST DECADE IS LIKELY TO HAVE BEEN THE HOTTEST PERIOD IN THE LAST 125,000 YEARS.
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