S&P Global Launches Comprehensive Framework for Assessing Reliability of Estimates of Greenhouse Gas Intensity for Crude Oil - Seite 3

S&P Global assessed the life-cycle stages for 48 distinct crude oil streams which collectively accounted for 90% of volumes processed in the United States in 2019. The year 2019 was chosen as the most recent year of representative operations (2020 being the onset of the COVID-19 pandemic). Various tools and models were used while following The Right Measure method for consistency.

S&P Global estimates the volume-weighted average life-cycle GHG intensity of crude oil processed in the United States in 2019 was 84 gCO₂e/MJ or 457 kgCO₂e/bbl of refined product. On a percentage basis the variation is somewhat contained because most emissions—69-88%–occur from end-use. This is significantly lower than many other studies. While these prior analyses are incomparable for many reasons there was also reason to believe the U.S. average may have declined naturally from improvements in shale extraction to Canadian oil sands which dominate the U.S. slate.

The average life-cycle GHG intensity for each of the 48 distinct crude streams against the volume consumed in 2019 that make up the U.S. average, as well as detailed methodology of the S&P Global The Right Measure method can be found in the complete study, available at: https://ihsmarkit.com/Info/1020/right-measure.html?utm_campaign=PC0219 ...

About the study:

The Right Measure is the product of a comprehensive review of life-cycle methods and was conducted through a series of workshops through late 2020 and 2021. Workshop participants included Barclays, Cenovus Energy, Ecopetrol, Government of Alberta, National Energy Technology, Petrobras, Scotiabank, Saudi Aramco and Suncor Energy. The study was supported by Cenovus Energy, Ecopetrol, Government of Alberta, Petrobras and Suncor Energy.

The U.S. Department of Energy National Energy Technology Laboratories (NETL) provided technical guidance throughout the course of the study.

The study reviews existing practices to identify areas of inconsistency and provides recommendations that could resolve these issues. Although the analysis is focused on crude oil, the finding and recommendations are relevant to a variety of hydrocarbon pathways, such as natural gas.

S&P Global is exclusively responsible for all of the analysis and content of the study.

About S&P Global
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