Parex Resources Inc., a prominent player in the oil and gas industry, is headquartered in Calgary, Canada. Founded in 2009, the company has established a strong operational presence in Colombia, focusing on exploration and production activities. Parex is renowned for its commitment to sustainable practices and efficient resource management, setting it apart in a competitive market.
The company primarily engages in the exploration and development of oil reserves, with a portfolio that includes several high-quality assets. Parex Resources has achieved significant milestones, including consistent production growth and strategic acquisitions that enhance its market position. With a reputation for operational excellence and a focus on maximising shareholder value, Parex continues to be a key contributor to the energy sector in Latin America.
+13 vs industry average
Parex Resources’s score of 32 is higher 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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Industry Intensity
Gas/Diesel Oil has above-average carbon intensity
Industry performance
The Gas/Diesel Oil industry has reduced its overall emissions by 41% since 2019
Emissions trajectory 2020 – 2027
Reported emissions
Scope 3 accounts for ••• of total emissions.
Parex Resources's reported carbon emissions
In 2024, Parex Resources reported total carbon emissions of approximately 4.35 billion kg CO2e. This figure includes Scope 1 emissions of about 227.2 million kg CO2e, Scope 2 emissions of approximately 12.1 million kg CO2e, and Scope 3 emissions amounting to about 4.11 billion kg CO2e. The Scope 3 emissions are primarily driven by the use of sold products, which alone accounts for approximately 3.78 billion kg CO2e. Parex Resources has made significant climate commitments, including signing a Memorandum of Understanding (MOU) with the Colombian government in 2023. This agreement aims to mitigate the impacts of climate change and sets long-term reduction targets for both Scope 1 and Scope 2 emissions, with a target year of 2050. The company has demonstrated a proactive approach to climate action, aligning its strategies with industry standards and engaging in initiatives to reduce its carbon footprint. As part of its sustainability efforts, Parex Resources is focused on achieving net-zero emissions by 2050, reflecting its commitment to addressing climate change and promoting environmental stewardship.
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Parex Resources’s Climate Goals (2030 & 2050)
2 goals2050
In 2023, Parex was one of the first mining and energy compan…
In 2023, Parex was one of the first mining and energy companies to sign a Memorandum of Understanding (MOU) with the Colombian government to…
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
See all 2 climate goals
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Scope 3 top emissions categories
7 of 15 categories disclosedSee all scope 3 categories
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Emissions comparison with industry peers
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Parex Resources
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