The upstream oil & gas emissions data in Lens Upstream is key information for many. Used to benchmark asset and company performance, it is essential to have a standardized approach to modelling it. We cover the Wood Mackenzie upstream emissions modelling approach in this article Upstream emissions methodology.
Within Lens, the emissions data is available to our Lens Upstream Optimisation and Lens Emissions subscribers.
Emissions dashboard
To locate the upstream emissions data, simply use the menu panel on the left to go to the Emissions dashboard. Within this dashboard we will see multiple visualisation components that allow us to benchmark emissions by different dimensions.
Settings
To use the dashboard, we are presented with two Settings:
Upstream scope 1 &2 emissions - allows selection of different emissions category, i.e. Drilling, Flaring, Liquefaction, Methane, Processing, Production, Venting
Upstream scope 3 emissions - allows us to add the scope 3 emissions from refining or end use activities:
Refining - applicable for liquids only, where we estimate emissions resulting from operations required to convert the oil into refined products within
the refinery gate
End Use - an estimate of the end-use emissions from the eventual combustion of liquids and/or gas produced
Whatever we select from these settings will be reflected throughout the dashboard, making it easy to focus on the specific aspect of the emissions data we want to see.
Upstream scope 1 & 2 emissions setting
Upstream scope 3 emissions
Table of Content
Here's a summary of what we will find in the Emissions dashboard:
Four main charts:
Annual absolute emissions chart
Annual emissions intensity chart
Absolute emissions ranking chart by year
Emissions intensity ranking chart by year
Their corresponding emissions data grids:
Field absolute emissions (annual) - contains field-level absolute emissions data (ktCO2e) along with production (kboe/d). These metrics are further split into liquids-gas dimension
Company field net absolute emissions (annual) - contains companies' field-level net emissions and production data, based on their participating interests in the field
Company field gross operated absolute emissions (annual) - contains companies' field-level gross emissions and production data, but only for their operated positions. So if we filter for a field, this grid will only show the field operator's gross emissions, and no one else's.
Expanding each of the chart will allow us to configure it further. For example, for this total absolute emissions annual chart, the default setting displays the data by category. But we can change to view this by country, company, super-region, basin, etc. by simply selecting the color-by option.
The underlying data from each configuration will also be displayed in the grid underneath the chart. Both the chart and table are exportable too.
As for the emissions data grids, we have now enhanced it by adding the liquids-gas split to the emissions (ktCO2e) and production (kboe/d). This allows us to calculate emissions intensity by using these attributes in the same table, while at the same time getting a more granular picture of a field or a company's emissions portfolio.
To complement the emissions data, we also provide Carbon prices data grids that are based on our energy transition outlook scenarios, containing historical and forecast data:
Carbon price: Base - Wood Mackenzie's base case view of all commodity and technology business units – our central, most likely outcome. The base case incorporates the likely evolution of current policies and technology advances playing out in the future
Carbon price: Delayed transition - assumes a five-year delay in global decarbonisation efforts due to geopolitics, trade tensions, and reduced policy support for new technologies. Governments choose protectionism and domestic supply security over global cooperation and sustainability, driving up the cost of new technologies and delaying the transition.
Carbon price: Country Pledge - in this scenario, energy security and technological sovereignty are key assumptions. Announced net zero pledges are implemented, albeit with slightly delayed starts due to near-term challenges amid high energy prices. Incentive-based policies drive competition and the race to technology advancement and innovation are key features of this scenario.
Carbon price: Net Zero - assumes that the energy challenge trinity – sovereignty, security and sustainability – are addressed in time and at the required pace and scale, driven by new technologies and global cooperation.
Emissions data in Lens Direct
The emissions data grids are also available as tables in Lens Direct. Simply search for them by keyword "emissions_category" to locate the latest tables we have.
💡 Note: If you are using the previous emissions tables, you will need to replace them with the latest ones highlighted above. The correct name for the resource tables to use are:
field_annual_emissions_category
field_company_gross_operated_annual_emissions_category
field_company_net_annual_emissions_category
Please also note that there are changes to the columns as well and must be replaced accordingly. Kindly watch this quick video below for the step-by-step instructions on how to replace the table and adjust the columns, to ensure continued data update and support.
What's next?
If you're interested in emissions analysis, you may also be interested in these articles:
📣Additional resources
To help our users analyze emissions at field and company levels easily, we have also provided the following Excel workbook templates containing API connections to our emissions data tables in Lens Direct.
Tip: Please read the User Notes first for helpful instructions on how to use the templates. Given that we're potentially working with annual datasets, it may take a few minutes for the data to load, depending on the filters you've applied.