PetroChina
Expected impact on maritime operations is negligible
PetroChina is committed to achieving a carbon emission peak around 2025 and “near-zero” emissions around 2050. No intermediate targets or Scope quantification have been identified. It is interesting to note that ‘compliant operation’ ranks highest in PetroChina’s materiality assessment.
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Sustainability Report
About Company
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No intermediate targets or Scope quantification have been identified.
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No shore power projects have been identified.
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PetroChina is actively ‘promoting’ the industrialization of CCS, conducted pilot experiments, strengthened the technology research for the whole industry chain, and strived to increase the carbon capture and utilization levels, to assist the achievement of the “dual carbon” goals. One example is the Jilin Oilfield demonstration project.
The Jilin Oilfield was the first CCS and oil recovery enhancement demonstration project in China. The project includes five carbon dioxide flooding and sequestration demonstration areas, covering 11.83 million tons of geological reserves, 88 gas injection well groups, with a cumulative gas injection of more than 2 million tons, an annual production capacity of 100,000 tons, and an annual sequestration capacity of 350,000 tons. It built the first low-cost carbon dioxide recycling injection station in China, with a daily reinjection capacity of 200,000 cubic meters, and all the associated gas produced being reinjected, thus achieving “zero emission” of carbon dioxide.
Furthermore, PetroChina participated in the research on carbon capture, utilization and storage (CCUS), published OGCI China CCUS Commercialization White Pape, and participated in the compilation of the Catalogue of Carbon Dioxide Storage Resources. An information platform for OGCI CCUS industry promotion centre was developed, and CCUS ambition of 12 member companies was re-established.
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Since the 1970s, China has conducted one of the largest reforestation programs known to man, also called the ‘Great Green Wall’. Offsetting, mainly in the form of afforestation, is therefore more common than for Western cultures.
PetroChina supported and actively participated in the construction of China’s carbon sink forest, and continuously conducted afforestation activities in operational areas, staff living area and surrounding communities. In 2021, the Company participated in voluntary afforestation by 403,200 person times, and planted 1,937,900 trees; the total area of existing green field reached 289.4 million square meters; and we built 510 mu of Ma’anshan Carbon Neutral Forest in Daqing Oilfield.
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PetroChina is associated with the following organizations:
Oil and Gas Climate Initiative (OGCI)
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In 2021 PetroChina completed its three-year reform action plan to optimize and modernize corporate governance system and governance capacity. The company’s internal control system was reshaped to fully embrace the inclusion of ESG related risks so as to scale up our capability in risk control and the effectiveness of internal control system.
The Sustainable Development Committee under the Board is responsible for overall planning supervision of ESG issues of the Company. Mr. Huang Yongzhang, the Executive Director and the President of the Company, serves as the chairman of the committee, and Mr. Jiao Fangzheng, the non-executive director, and Ren Lixin, the executive director and senior vice president, serve as members of the committee. Compliance, safety and environmental protection, energy conservation and emission reduction are included in the annual performance assessment of the Company’s management. If the assessment indicators are not completed, the performance score will be deducted and the compensation and salaries will be deducted according to the regulations.
It is interesting to note that 'compliant operation’ ranks highest in PetroChina’s materiality assessment matrix.
Frequently Asked Questions
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