Emissions cuts Canada oil producers grapple with Trudeau's demand for faster emissions cuts
Some small conventional oil producers are already showing deep emissions cuts are possible, however, using methods that big producers Canadian Natural and Cenovus could widely apply. Both companies produce crude in the oil sands and by conventional methods.
Yangarra Resources, which produces 10,000 barrels of oil equivalent per day, says it will cut total emissions by 47%, or 50,000 tonnes of carbon dioxide equivalent, by the end of 2022. Its plans involve powering 80 pumpjacks with electricity from the Alberta grid, instead of burning natural gas, and replacing older instruments that emit high amounts of methane.
“Cutting carbon in the oil patch is going to be a whole lot easier than anyone thinks,” said Yangarra CEO Jim Evaskevich. “All of the changes we are implementing make incredible economic sense.”
The moves are likely to generate substantial credits next year that Yangarra can sell to bigger emitters, although the monetary value has not yet been determined, Evaskevich said.
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