Oil and gas industry carbon reduction path

Companies, industries and localities should set carbon-neutral transition targets based on a holistic consideration of the entire oil and gas value chain. Because of the differences in assets, markets or operational conditions of each link, it is necessary to take different policy paths in different links. If the research and development and reserve of low-carbon technologies, such as a new generation of clean and efficient recyclable production processes, energy saving and carbon dioxide recycling technologies, clean development, transformation and utilization of fossil energy technologies can be supported, enterprises will have the incentive to increase investment in scientific and technological innovation. In appropriate areas, we should vigorously promote the demonstration of pilot projects for carbon dioxide capture, oil displacement and storage, promote green products, green factories and green parks, encourage enterprises to develop high-quality, durable and recyclable green petrochemical products, carry out ecological product design, formulate low carbon standards, increase the proportion of low carbon raw materials, and reduce the carbon footprint of products throughout the life cycle. Drive upstream and downstream value chains to reduce carbon emissions. Supervision and comparative analysis in the industry should be strengthened, and targeted subsidy support should be given to benchmarking enterprises and advanced transformation actions in the industry. At the same time, we should highlight local responsibilities, strengthen performance assessment, improve policies and measures, and explore pilot experience. If the local oil and gas industry and other industries with high carbon emission and difficult emission reduction are relatively developed, CCUS oil displacement large-scale parks can be developed on a pilot basis to expand the scale effect, create a new engine for industrial development while reducing the marginal cost of local enterprises using carbon emission reduction technology, and form a leading demonstration effect in the country.