Refiners' emissions performance

The refining industry ranks as the third largest contributor to global greenhouse gas (GHG) emissions from stationary sources, placing it at the centre of the energy transition and net zero efforts. The industry has embraced a diversified investment approach to achieve net zero emissions. However, they face ongoing challenges, such as technology readiness, economic feasibility, and policy uncertainty. How have emissions in the refining industry evolved in recent years? What decarbonisation projects are companies pursuing? With Wood Mackenzie’s emissions benchmarking tool (EBT), we evaluate emissions and emissions intensity on the asset and corporate levels for over 500 refineries globally, as well as the value at risk from carbon in different energy transition scenarios.