Tethys Oil Sustainability Profile
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 41 is higher than 72% 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 2024, Tethys Oil, headquartered in Sweden (SE), reported total carbon emissions of approximately 503,229,000 kg CO2e. This figure includes Scope 1 emissions of about 2,888,000 kg CO2e, primarily from stationary combustion, and Scope 2 emissions of approximately 79,000 kg CO2e. The company’s Scope 3 emissions were significantly higher, totalling around 1,281,240,000 kg CO2e, with major contributions from the use of sold products (about 190,664,000 kg CO2e) and fuel and energy-related activities (approximately 8,006,000 kg CO2e). In 2023, Tethys Oil's total emissions were slightly lower at about 508,967,000 kg CO2e, with Scope 1 emissions at approximately 440,000 kg CO2e and Scope 2 emissions at around 70,000 kg CO2e. The Scope 3 emissions for that year were about 1,290,569,000 kg CO2e. Tethys Oil has set ambitious climate commitments, aiming for no routine flaring by 2030 across both Scope 1 and Scope 2 emissions. This initiative is part of their near-term net-zero strategy, which commenced in 2023 and is expected to be fully realised by 2030. The emissions data is cascaded from Tethys Oil AB (publ), reflecting the company's performance as a current subsidiary. The data highlights the significant challenges and commitments Tethys Oil faces in reducing its carbon footprint while maintaining operational efficiency in the oil and gas sector.
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| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|
| Scope 1 | 126,846,000 | 000,000,000 | 000,000,000 | 00,000 | 0,000,000 | 0,000,000 | 000,000 | 0,000,000 |
| Scope 2 | - | - | 00,000 | 00,000 | 00,000 | 00,000 | 00,000 | 00,000 |
| Scope 3 | - | - | 000,000,000 | 000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
How Carbon Intensive is Tethys Oil's Industry?
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Tethys Oil's Scope 3 Categories Breakdown
Tethys Oil's Scope 3 emissions, which decreased by 1% last year and increased by approximately 251% since 2019, demonstrating supply chain emissions tracking. Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with "Use of Sold Products" being the largest emissions source at 15% of Scope 3 emissions.
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Tethys Oil's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Tethys Oil has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
