Petronas

Petronas, a Malaysian-headquartered Gas/Diesel Oil company, reported approximately 376.1 billion kg CO2e in total emissions for 2024. This includes Scope 1 emissions of around 51.0 billion kg CO2e, Scope 2 emissions of approximately 510 million kg CO2e, and Scope 3 emissions of about 322.0 billion kg CO2e, with approximately 298.2 billion kg CO2e attributed to the use of sold products and around 23.9 billion kg CO2e from purchased goods and services.

Looking back, their 2023 total emissions were about 360.3 billion kg CO2e, comprising Scope 1 emissions of roughly 49.1 billion kg CO2e, Scope 2 emissions of approximately 690 million kg CO2e, and Scope 3 emissions of around 343.2 billion kg CO2e (including about 312.1 billion kg CO2e from use of sold products and approximately 31.1 billion kg CO2e from purchased goods and services). In 2022, total emissions were about 372.9 billion kg CO2e, with Scope 1 at roughly 48.9 billion kg CO2e, Scope 2 at approximately 690 million kg CO2e, and Scope 3 at about 322.4 billion kg CO2e (including approximately 292.1 billion kg CO2e from use of sold products and about 30.3 billion kg CO2e from purchased goods and services).

Petronas has set significant climate commitments, aspiring to achieve net zero carbon emissions by 2050. This makes them the first oil and gas company in Southeast Asia to announce such a target. For the near term, Petronas aims for a 25 per cent reduction in group-wide emissions against a 2019 baseline by 2030. This target includes a 70 per cent reduction in methane emissions from their group-wide natural gas value chain and a 50 per cent reduction in methane emissions from Malaysia's natural gas value chain. Additionally, Petronas has pledged to avoid routine flaring in new field developments and eliminate routine flaring at existing oil production sites by 2030, impacting both Scope 1 and Scope 2 emissions.