Improving Energy Efficiency
By adopting advanced production technologies and equipment, optimizing oilfield production processes, reducing energy consumption, and lowering carbon emissions.
Category | Risk/Opportunity | Description | Mitigation Measures |
---|---|---|---|
Risk | Physical Risk | Extreme weather events (e.g., storms, floods) may impact oilfield operations and infrastructure. | Strengthen the disaster resilience of infrastructure, develop emergency plans and recovery strategies. |
Energy Transition Risk | The global shift to a low-carbon economy may reduce demand for fossil fuels, affecting market positioning and revenues. | Diversify the energy portfolio, increase investments in renewable energy projects, and reduce reliance on fossil fuels. | |
Regulatory Risk | Changes in climate-related regulations and policies may increase compliance costs. | Actively participate in the policy-making process and adjust business strategies to adapt in advance to policy changes. | |
Opportunity | Market Opportunity | The growing demand for renewable energy provides new business opportunities. | Develop and invest in renewable energy projects, such as wind and solar power. |
Technological Opportunity | The development of Carbon Capture, Utilization, and Storage (CCUS) technology can reduce emissions and provide new revenue streams. | Invest in R&D of CCUS technology and explore commercial application scenarios. | |
Reputational Opportunity | Proactively addressing climate change can enhance brand image and market competitiveness. | Strengthen transparency and communication on climate actions, showcasing the company’s environmental responsibility and innovation. |