The world is changing and so is the energy industry. E&P companies, investors, governments and other stakeholders are increasingly becoming more focused on all elements of the energy transition, including emissions/carbon footprint within the oil and gas value chain.
ESG/emissions reporting among oil companies is still limited. The information that does exist is reported in different formats, with different boundary definitions and coverage (e.g. greenhouse gases included or excluded), and with low resolution. This implies that reported emission numbers generally can not be compared directly without analysing and adjusting within a well-defined emission framework.
Powered by its complete, field-by-field databased UCube (Upstream Cube), Rystad Energy has developed a complete and consistent product line called Emissions Solution. This includes data, analytics and advisory services within the upstream (extraction and flaring), midstream (processing and refining of hydrocarbons) and downstream (combustion of petroleum products) segments.
The line’s first product offering, the EmissionsCube, was launched on May 26. Users can benchmark countries, operators and companies (taking ownership interest into account) and perform detailed emission analysis of portfolios – incorporating data from the Rystad Energy database.
“Today we are releasing a unique dataset that will enable stakeholders to compare and contrast a key element to measure upstream companies’ readiness for the Energy Transition: CO2 Emissions. With this tool, we enable our clients to effectively benchmark and drill into any upstream company’s footprint of such emissions,” Rystad Energy CEO Jarand Rystad says.
Data on upstream CO2 emissions, which represent about 5% of total emissions originating from oil and gas combustion, is now easily accessible for clients. This is possible while staying loyal to the Rystad Energy approach: The dataset is built bottom-up, field-by-field and adds up to total emission levels.
EmissionsCube is Rystad Energy’s first database product within the ESG space and complements its advisory services in this domain. Its tools allow users to:
- Compare and benchmark companies in order to understand emission performance and assess risks.
- Understand the relative ranking of countries, operators and companies (taking ownership into account) globally, and the drivers for emission performance.
- Identify the high-emitting parts of the portfolio and develop ESG strategies to both meet increasing demands for disclosure and emission reduction goals.
- Assess the impact of emissions on companies’ competitiveness.