Pressure is mounting on the oil and gas sector to clean up its act and reduce emissions from operations, the so-called Scope 1 and Scope 2 emissions. Many of Europe’s largest oil corporations, including Shell, BP, Eni, Repsol, and Total, have imposed their own targets to cut carbon intensity from their upstream operations as they have pledged to become net-zero emission businesses by 2050 or sooner. The pressure from investors and shareholders is also growing, including on the oil industry to reduce the so-called Scope 3 emissions—those emissions generated by the use of their products. Low-carbon power would be a key to cutting emissions, says Wood Mackenzie, which estimates that around two-thirds of emissions come from power consumption – production, processing, and liquefaction. Between 2021 and 2025, the region with the highest carbon intensity will be Oceania, mostly due to the large emissions from liquefaction, according to the Wood […]