Eliminating carbon emissions at any corporation would be a difficult task, but it will be especially difficult at a company that relies on the production and sale of fossil fuels. And unlike other major oil and gas companies that have set narrow emissions targets, Repsol is counting the emissions from the automobiles and power plants that use Repsol products — what environmentalists call “Scope 3” emissions. Earlier this year, Vicki Hollub, chief executive of Occidental Petroleum, said she wanted the fifth-biggest U.S. oil and gas company to be carbon neutral, but she has not established a timetable. While the company wrote down the value of its oil and gas reserves, it did not label them stranded or abandon oil and gas exploration. ADADCompany spokesman Kristian Rix said that Repsol’s oil and gas reserves would be used up in eight years without further exploration.

Source: Washington Post December 03, 2019 23:48 UTC