Petronas sets net-zero carbon ‘aspiration’

Malaysian NOC is the first major Asian hydrocarbons producer to establish a goal but details remain scanty

Petronas became the first Asian oil and gas producer to announce, in early November, that it was aiming for net-zero carbon emissions by 2050. But analysts say that without further details about these plans it is too early to draw conclusions over how the NOC’s operations will change in the near term. Speaking at a company townhall in late October, Petronas chief executive Tengku Muhammad Taufik said the firm had an “aspiration” to hit net-zero carbon for its Scope 1 and Scope 2 emissions—those coming from its own production, refining and marketing—by 2050. This brings it roughly into line with European majors such as Shell, Total and BP as well as IOCs such as Spain’s Repsol, although some