IHS also cautioned that the weighted average emissions intensity of 70 kilograms per barrel “may do a poor job of representing any one operation” because the variability among oil-sands projects is wide. Imperial Oil has set a goal to reduce its oil sands GHG intensity by 10 per cent in 2023 compared to 2016, and Canadian Natural Resources has set a long-term aspirational goal of net-zero emissions in its oil sands operations. You can unsubscribe at any time and we'll never share your details to third parties. Cenovus Energy has also set a target to reduce its GHG intensity by 30 per cent by 2030, although Cenovus uses 2019 as the baseline year. However, averages do not capture the entire picture, with some facilities already at or near the US average today,” IHS Markit said. The oil sands sector accounts for roughly one-quarter of Alberta’s annual emissions. or. This document is subject to copyright. Canadian cannabis sector still growing despite supply glut two years after legalization, Aphria shares tumble after disappointing Q1 results, Aphria expected to report strong recreational cannabis sales growth in Q1, Alberta, Ottawa sign deal that reduces oil sands environmental monitoring, Total 'virtue signalling' by writing off oil sands assets: CAPP CEO. The information you requested is not available at this time, please check back again soon. The information you enter will appear in your e-mail message and is not retained by Phys.org in any form. The cap limits the greenhouse gas emissions "for all oil sands sites combined" to 100 megatonnes (Mt) in any year. The announcement to divest from Canada comes as production at the massive new Johan Sverdrup project operated by Norway’s state-owned oil company Equinor is expected to reach 470,000 barrels per day ahead of schedule. Suncor Energy, for example, says it considers climate risk to be one of its principal risks. GHG spotlight on electricity. The trend has continued to improve. Fact: Oil sands producers have set GHG reduction targets. Left out of the study, notably, are emissions from all oilsands operations that use in-situ extraction, pumping steam into the ground to get the petroleum out. It also throws a wrench in the government's climate strategy. Only about 66 megatons of the industry’s current emissions are subject to the cap, IHS Markit estimates, meaning the oil sands have ample room to boost them. Oil sands emissions intensity (in kgCo2e per barrel) has decreased from 123 kgCO2e per barrel in 2000 to 79 kgCO2e per barrel in 2018. Together, Canadian Natural Resources, Suncor, Imperial and Cenovus are responsible for more than 75 per cent of current oil sands production and, as such, the vast majority of Canadian oil production.
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