Suncor makes net-zero pledge
Investor pressure convinces Canadian company to confront emissions, but upstream growth remains focus
The Canadian oil sands sector is starting to get serious about its carbon-intensive emissions. Last year, Calgary-based operator Cenovus and industry peer Husky Energy both announced net-zero pledges, with the companies later agreeing to merge. And now major oil sands producer Suncor has pledged to achieve net-zero emissions from its operations by 2050. The first pillar of Suncor’s net-zero strategy will be to cut emissions by 10mn t annually through to 2030. In 2019, this figure represented a 35pc share of operational emissions. At the same time, the oil sands producer has set itself the goal of lifting upstream production by 14pc over the next five years. “Our upstream production is expect
Also in this section
1 May 2024
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well
30 April 2024
While its regional neighbours reap the rewards of oil and gas success, Iraq’s hydrocarbons sector is lagging behind
29 April 2024
Although recent, firmer gas prices have blunted some price-sensitive demand, the overall growth outlook remains robust
26 April 2024
While the US has been breaking records for its premium grade crude, there are doubts over whether you can have too much of a good thing