Tethys Oil
Tethys Oil AB, commonly referred to as Tethys Oil, is a prominent player in the oil and gas industry, headquartered in Sweden (SE). Founded in 2001, the company has established a strong operational presence in the Middle East, particularly in Oman, where it focuses on exploration and production activities. Tethys Oil is renowned for its commitment to sustainable practices and efficient resource management, setting it apart in a competitive market. The company’s core services include the exploration, development, and production of oil, with a notable emphasis on maximising recovery from existing fields. With a solid track record of successful projects and a strategic approach to asset management, Tethys Oil has positioned itself as a reliable and innovative entity within the energy sector, continually striving for excellence in its operations.
DitchCarbon Score
How does Tethys Oil'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 Crude Oil Extraction 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
Tethys Oil's score of 6 is lower than 69% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Tethys Oil's reported carbon emissions
In 2022, Tethys Oil, headquartered in Sweden, reported total carbon emissions of approximately 268,360,000 kg CO2e for Scope 1, 67,000 kg CO2e for Scope 2, and about 260,291,000 kg CO2e for Scope 3 emissions. This represents a significant carbon footprint, with Scope 3 emissions being the largest contributor, primarily from the use of sold products, which accounted for about 211,363,000 kg CO2e. Comparatively, in 2021, Tethys Oil's emissions were approximately 242,621,000 kg CO2e for Scope 1, 49,000 kg CO2e for Scope 2, and around 296,142,000 kg CO2e for Scope 3. This indicates a slight increase in Scope 1 emissions and a notable decrease in Scope 3 emissions year-on-year. Tethys Oil has set ambitious climate commitments, aiming for "Ingen rutinmässig fackling" (no routine flaring) by 2030 for both Scope 1 and Scope 2 emissions, with a target year of 2024 for initial assessments. These commitments reflect a proactive approach to reducing their carbon footprint and aligning with net-zero aspirations. The emissions data is cascaded from Tethys Oil AB (publ), indicating a corporate family relationship that influences their sustainability reporting. The company is actively working towards enhancing its climate strategy, although specific SBTi targets have not been disclosed.
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| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|---|---|
| Scope 1 | 126,846,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 2 | - | - | 00,000 | 00,000 | 00,000 | 00,000 |
| Scope 3 | - | - | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
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.
Tethys Oil 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.
