BP carbon emissions rise amid US oil and gas boom

By Shelby Webb | 03/11/2024 06:36 AM EDT

The petroleum giant reported its first increase in overall emissions since 2019.

Fuel prices are displayed at a BP gasoline station.

Fuel prices are displayed at a BP gasoline station in Elgin, Illinois, in 2022. Nam Y. Huh/AP

BP reported Friday that its overall carbon dioxide emissions rose last year for the first time since 2019, raising questions about the company’s ability to meet its net-zero targets as demand for oil and gas continue to drive its profits.

The emissions caused by the burning of BP’s oil and gas increased by 8 million metric tons in 2023, to 315 million metric tons. Emissions stemming from the company’s operations rose slightly to 32.1 million metric tons, compared to 31.8 million metric tons in 2022.

BP attributed the increases to a boost in oil and gas production, as well as temporary operational changes and project startups. Asked what that means for BP’s net-zero ambitions, spokesperson Rita Brown said those goals remain unchanged.


“Since 2019 our estimated Scope 3 emissions are down 13%, which is around the mid-range of our 2025 target of a 10-15% reduction against our 2019 baseline,” she said.