09/12/2024 by OilStoreAdministrator
Oil and gas company and leading lubricant manufacturer, Petronas, recently joined forces with top energy companies in Southeast Asia to release a statement on emissions.
Designed to coincide with the United Nations Climate Change Conference, the statement called for a more inclusive, collaborative and progressive approach to cutting methane emissions in the area’s energy sector.
While Petronas is known globally as a producer of quality lubricants including air compressor oil, the Kuala Lumpur headquartered company is also involved in the region’s energy sector. The reduction in methane emissions would be a key step in an energy transition that places people, nature, livelihoods and lives at the centre of climate action.
Alongside Petronas, other signatories of the statement included Cambodia’s Ministry of Mines, PTT Public Company Limited, Philippine National Oil Company, Myanma Oil and Gas Enterprise, the Singapore LNG Corporation and the ASEAN Centre for Energy.
All recognise that sustainable climate action is urgently needed and believe that substantial accomplishments can be achieved by 2030.
This recent statement is aligned with the “Net Zero Carbon Emissions by 2050 Pathway” established by Petronas – specifically its near and mid-term methane emission reduction targets, but also its commitment to the Methane Guiding Principles, the Oil and Gas Decarbonisation Charter and the UN’s environmental programmes “Methane Leadership” and “Oil and Gas Methane Partnership 2.0”.
Petronas’ value chain for natural gas has already seen a 58 per cent reduction in methane emissions since 2023.
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