ADNOC Reports Carbon Emission Reductions in 2022

Abu Dhabi, January 2023 – ADNOC, the Abu Dhabi-based energy company, announced a reduction of 6.2 million tonnes in scope 1 (direct) and scope 2 (indirect) carbon dioxide equivalent (CO2e) emissions last year. This reduction includes 4.8 million tonnes from clean grid energy from solar and nuclear power. The company is aiming for net zero by 2045.

In its 2023 sustainability report, ADNOC highlighted that its greenhouse gas (GHG) emissions from upstream operations totalled 24 million tonnes of CO2e in 2023, a slight decrease from 24.1 million tonnes in 2022. The GHG intensity of its upstream operations was around 7kg of CO2e per barrel of oil equivalent, claimed to be among the lowest in the industry.

To meet its goal of a 25% reduction in GHG intensity by 2030, ADNOC is fast-tracking decarbonization projects, including carbon capture and storage, electrification, methane emissions reduction, and enhancing energy efficiency. The company achieved a 900-kilotonne CO2e reduction from energy efficiency initiatives last year and aims to improve energy efficiency by 5% by 2025 with 2018 as a baseline.

Despite its efforts, flaring volume increased by 8.6% in 2023 due to unexpected outages, although the company is working on reducing this through upgrading vapor recovery systems and operational improvements.

The UAE government approved ADNOC’s plan to reach net-zero emissions by 2045. The plan includes a $3.8 billion project to connect offshore operations to clean grid power, reducing the offshore carbon footprint by up to 50%, and a 1 million tonne-per-annum low-carbon ammonia facility to aid customer decarbonization.

Additionally, ADNOC's board raised its decarbonization budget to $23 billion from the previously allocated $15 billion. At the COP28 climate conference in Dubai, ADNOC signed the Oil and Gas Decarbonization Charter with 49 other companies, aiming for net-zero emissions by 2050.

UK General Election Exit Poll Predicts Labour Victory

London, 2024 – The Conservative Party is on course for one of its worst defeats, with the latest exit poll indicating a loss of around 240 parliamentary seats. The Labour Party, led by Keir Starmer, is expected to gain 410 seats, securing a significant majority.

Labour returns to power for the first time since 2010, and Starmer, knighted in 2014, will be the new Prime Minister. The exit poll, generally reliable in recent elections, predicts 131 seats for the Conservatives. The Liberal Democrats are positioned to gain more than 50 seats, totaling 61.

Reform UK, led by Nigel Farage, is predicted to gain 13 seats, driven by its stance on immigration and channel crossings. The Scottish National Party (SNP) is expected to see a major reduction, dropping to 10 seats, impacting their independence ambitions.

Starmer’s agenda includes a national energy provider, Great British Energy, and a Border and Security Command to manage illegal immigration. He supports Ukraine but will not reverse Brexit.

The Labour victory results from a public vote for climate policies, including a clean power system by 2030 and a National Wealth Fund. The Conservative delay on climate policies was seen as a significant error, contributing to their loss.

Labour's election pledges focus on investment in clean energy, housing, and continued support for Ukraine. Key figures in climate and energy fields, such as Ed Matthew and Juliet Phillips, have emphasized the mandate for ambitious climate action and investment in future industries.

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