Building a methodology for crude carbon intensity
In 2024, Aramco started work on a pilot to demonstrate how improvements in carbon accounting can create a commercial advantage for efficient producers. In absence of a widely adopted industry standard, Aramco developed a custom product based intensity methodology for crude oil. Guidance from international technical standard and approaches and an independent verification of the approach and results were integral to this work.
Putting verified carbon accounting into practice
Using this approach and methodology, Aramco completed its first commercial sale of a verified carbon-offset crude cargo. The shipment of 2 million barrels with an average carbon intensity of 7.48kgCO2e/boe and retirement of carbon credit towards these emissions demonstrated how carbon accounting and verified carbon credits can be integrated into physical energy transactions.
Strengthening confidence in carbon claims
Demonstrating the necessity of robust methodologies, credible verification and transparent claims when applying carbon credits to commercial energy transactions is increasingly relevant. This has more credence as customers, regulators and financial markets seek greater clarity on the carbon intensity of energy products and the credibility of associated environmental claims.
