Gulf Keystone Petroleum
Gulf Keystone Petroleum Limited, commonly referred to as Gulf Keystone, is a prominent independent oil and gas exploration and production company headquartered in Bermuda (BM). Established in 2001, the company has made significant strides in the Kurdistan Region of Iraq, where it primarily operates. Gulf Keystone focuses on the exploration, development, and production of oil, with its flagship asset being the Shaikan field, known for its substantial reserves and production capacity. With a commitment to operational excellence and sustainability, Gulf Keystone has positioned itself as a key player in the energy sector. The company has achieved notable milestones, including successful drilling campaigns and strategic partnerships, which have bolstered its market presence. Gulf Keystone's unique approach to resource management and community engagement sets it apart in the competitive landscape of the oil and gas industry.
DitchCarbon Score
How does Gulf Keystone Petroleum's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Petroleum Products industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Gulf Keystone Petroleum's score of 22 is lower than 63% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Gulf Keystone Petroleum's reported carbon emissions
In 2023, Gulf Keystone Petroleum, headquartered in BM, reported a scope 1 emissions intensity of approximately 0.0571 kg CO2e per barrel, reflecting their ongoing commitment to monitoring and managing carbon emissions. The company has set an ambitious target to reduce its scope 1 emissions intensity by over 50% by 2025, using a baseline of 38 kg CO2e established in 2020. This initiative underscores Gulf Keystone's proactive approach to climate commitments, aiming for significant reductions in their operational carbon footprint. In previous years, Gulf Keystone's emissions data indicates a consistent focus on emissions intensity, with a reported scope 1 emissions intensity of about 0.0572 kg CO2e per barrel in 2022 and 0.0505 kg CO2e per barrel in 2021. The company disclosed scope 1 emissions of 407,000,000 kg CO2e and scope 2 emissions of 8,000,000 kg CO2e in 2020, demonstrating their operational impact prior to their current reduction initiatives. Gulf Keystone Petroleum has not disclosed any scope 3 emissions data, which typically encompasses indirect emissions from the value chain. However, their commitment to reducing scope 1 emissions intensity reflects a broader industry trend towards sustainability and carbon neutrality. The company's climate strategy is not linked to any Science Based Targets initiative (SBTi) or other external climate pledges, indicating a focus on internal targets and accountability. Overall, Gulf Keystone Petroleum is actively working towards reducing its carbon emissions, with a clear target set for the near term, aligning with industry standards for climate action and sustainability.
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| 2020 | |
|---|---|
| Scope 1 | 407,000,000 |
| Scope 2 | 8,000,000 |
| Scope 3 | - |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Gulf Keystone Petroleum is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
