Can oil companies go net zero?
Quick Answer
Oil companies can achieve net-zero operational emissions (Scopes 1 and 2). Achieving net-zero including Scope 3 would require either stopping oil production or offsetting billions of tonnes of customer emissions—neither is realistic at scale. Most oil company net-zero pledges focus on operations only, which covers roughly 15% of their total emissions footprint.
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Full Analysis
In-depth exploration with citations and evidence
What "Net Zero" Means#
Net zero means emissions produced equal emissions removed. For an oil company, this could mean:
Scope 1+2 Only (Operations)
- Zero flaring and venting
- Electrify with renewable power
- Offset remaining operational emissions
- Achievable with current technology
Full Value Chain (Including Scope 3)
- Stop selling oil, OR
- Offset 85% of emissions (billions of tonnes), OR
- Transition to different products
- Not achievable at current scale
Current Industry Commitments#
European majors (BP, Shell, TotalEnergies):
- Net zero by 2050 including some Scope 3
- Often use "net carbon intensity" rather than absolute
U.S. majors (ExxonMobil, Chevron):
- Focus on operational emissions
- Invest in carbon capture
- Less ambitious on Scope 3
What's Actually Achievable#
Near-term (by 2030)
- Eliminate routine flaring
- Reduce methane by 75%+
- Electrify operations with renewables
- These are meaningful real reductions
Long-term (by 2050)
- Near-zero operational emissions possible
- Scope 3 requires societal shift away from oil
- Carbon capture could offset some production emissions
Steelmanned Counterarguments
We present the strongest version of opposing viewpoints—not strawmen.
1Net-zero oil companies are greenwashing.
It depends on the scope. Genuine operational emissions reductions are meaningful and achievable. Claims that obscure Scope 3 exclusion or rely on questionable offsets deserve skepticism.