Shell fuel sales fall drives 16% drop in its 2020 carbon emissions

0
80

By Ron Bousso

LONDON (Reuters) – Royal Dutch Shell said its total greenhouse gas emissions dropped by 16% in 2020 as oil and gas sales dropped sharply due to the coronavirus pandemic.

Shell said in its annual report that total emissions from its oil wells to forecourt gasoline sales fell last year to 1.38 billion tonnes of carbon dioxide, from 1.646 billion in 2019.

Net carbon intensity, the main measure the Anglo-Dutch focuses on in its energy transition strategy, dropped last year to 75 grams of CO2 equivalent per megajoules, a 4% reduction from the 2019, Shell said.

Carbon energy intensity means a company can grow its fossil fuel output while offsetting its carbon emissions.

“One of the major causes of this larger than expected reduction in 2020 was lower demand for energy, especially for oil and gas,” it added.

Shell has begun a major overhaul to shift away from oil and gas to low-carbon energy, power trading and retail in order to reduce its greenhouse gas emissions to net zero by mid-century.

(Reporting by Ron Bousso; Editing by Edmund Blair and Alexander Smith)