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Saudi Aramco understated carbon footprint by up to 50pc
24th January, 2021 12:26:27
RIYADH: Before it launched the world’s biggest public listing, Saudi Arabian Oil Co. promised potential investors a small piece of a trillion-dollar company with access to unrivalled oil reserves. Not just in sheer volume but in climate friendliness, too.
Aramco executives emphasised in the run-up to an IPO in 2019 that drilling Saudi oil generates fewer planet-warming emissions than other producers. “Not because our crude is cleaner than other crudes globally. It’s because of our standards,” Chief Executive Officer Amin Nasser said at a roadshow, pledging to do even more to deliver lower-carbon oil. “Even though our numbers are great, climate change is critical for the world.”
Before it launched the world’s biggest public listing, Saudi Arabian Oil Co. promised potential investors a small piece of a trillion-dollar company with access to unrivaled oil reserves. Not just in sheer volume but in climate friendliness, too.
Aramco executives emphasized in the run-up to an IPO in 2019 that drilling Saudi oil generates fewer planet-warming emissions than other producers. “Not because our crude is cleaner than other crudes globally. It’s because of our standards,” Chief Executive Officer Amin Nasser said at a roadshow, pledging to do even more to deliver lower-carbon oil. “Even though our numbers are great, climate change is critical for the world.”
Aramco Omits Carbon Data for Up to Half Its Real Climate Toll
Bloomberg 1/21/2021 Akshat Rathi, Matthew Martin and Anthony Di Paola
(Bloomberg) Before it launched the world’s biggest public listing, Saudi Arabian Oil Co. promised potential investors a small piece of a trillion-dollar company with access to unrivaled oil reserves. Not just in sheer volume but in climate friendliness, too.
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Aramco executives emphasized in the run-up to an IPO in 2019 that drilling Saudi oil generates fewer planet-warming emissions than other producers. “Not because our crude is cleaner than other crudes globally. It’s because of our standards,” Chief Executive Officer Amin Nasser said at a roadshow, pledging to do even more to deliver lower-carbon oil. “Even though our numbers are great, climate change is critical for the world.”