Mexico Metropolis. Petróleos Mexicanos (Pemex) foresees “vital potential impacts on its revenues” within the path of the vitality transition below any of the eventualities it has envisaged, in keeping with a report launched by the state-owned firm on Thursday.
The oil firm’s “Local weather Danger Report” reveals that the set of measures taken to cut back greenhouse fuel emissions—the primary issue inflicting local weather change—in vitality manufacturing, distribution and consumption fashions signify challenges and alternatives for the oil firm.
“Pemex estimates vital potential impacts on its revenues associated to the vitality transition,” the state-owned firm mentioned within the report.
He recalled that the Inflections state of affairs assumes a discount within the demand for petroleum merchandise, primarily from 2030 onwards, attributable to public insurance policies aimed toward encouraging the electrification of transport fleets and different personal insurance policies of automotive corporations. Underneath this state of affairs, the demand for crude oil is between 1.5 million and 1.6 million digit barrels, reaching its peak in direction of the center of the subsequent decade.
The Inexperienced Guidelines outlook sees demand being affected primarily by vital restrictions on using inner combustion automobiles, in addition to the discount of fossil gasoline subsidies.
Whereas the Multi-Tech Mitigation state of affairs considers that clear applied sciences are carried out in all sectors, with a larger influence on the demand for petroleum merchandise.
Pemex recognized a excessive potential monetary influence from danger components equivalent to elevated demand for low-carbon merchandise; lowered availability of capital for investments within the sector; and excessive volatility in oil and fuel costs, amongst others.
In response to Octavio Romero Oropeza, CEO of the oil firm, in 2022 a 2.3 p.c discount in GHG emissions was achieved in comparison with 2021.
As of the third quarter of 2023, a complete of 47.5 million metric tons of CO2 have been recorded.
In 2022, methane emissions had been lowered by 4.3 p.c in comparison with these reported in 2021, whereas by the third quarter of 2023, a complete of 14.0 million metric tons of CO2 methane emissions had been recorded.
“It’s pressing to investigate and perceive the place Pemex is on the trail to a extra sustainable financial system and what actions are required to maneuver in that course,” Romero Oropeza mentioned.
The oil firm mentioned it seeks to make the most of the primary enterprise alternatives within the brief, medium and long run, which incorporates the diversification of vitality manufacturing, the manufacturing of biofuels, the manufacturing of inexperienced hydrogen, carbon sequestration, amongst others.
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– 2024-07-11 06:24:25
