- Market: Possible decline in market demand for oil resulting in stranded assets.
- Price volatility of oil and gas.
- Technology: Widespread adoption of green/disruptive technologies displacing demand for oil.
- Policy and Legal: Tightening government policies on climate rules, implementation of domestic and cross border carbon tax.
- Reputation: Stigmatisation of the oil and gas sector due to perceptions of the sector’s contribution to climate change or detraction from energy transition.
- Climate-related physical risks, both acute and chronic, arising from extreme weather events and shifts in climate pattern may cause disruption to our business and have an impact on our portfolio of hydrocarbon assets.
Hibiscus Petroleum Berhad
Greenhouse gas emissions & sustainability report data
In its 2023-07 to 2024-06 reporting, Hibiscus Petroleum Berhad disclosed greenhouse gas emissions of 6.8M tCO2e/year. By scope: Scope 1: 6.8M tCO2e/year; Scope 2: 2.3K tCO2e/year; Scope 3: 52.0K tCO2e/year. Figures are as stated in the company's own report and may use different boundaries, units or methods (for example market-based vs location-based Scope 2), so compare with care.
GHG Emissions
6.8M tCO2e/year
2023-07 to 2024-06
Water Usage
76.19 Megalitres/year
2023-07 to 2024-06
Waste
73.0K tons/year
2023-07 to 2024-06
Energy Use
23.65 Million GJ/year
2023-07 to 2024-06
📊 Emissions by Scope (2023-07 to 2024-06)
| Scope | What it covers | Reported value |
|---|---|---|
| Scope 1 | Direct emissions from sources the company owns or controls (fuel combustion, company vehicles, process and fugitive emissions). | 6.8M tCO2e/year |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 2.3K tCO2e/year |
| Scope 3 | Other indirect emissions across the value chain (purchased goods, business travel, use of sold products, etc.). | 52.0K tCO2e/year |
New to scopes? Read Scope 1, 2 and 3 emissions explained and market-based vs location-based Scope 2.
✅ Reported Environmental Achievements
- Recorded a total net absolute GHG emissions of 6,703,195 tonnes of CO2e in FY2024, a 20% reduction against FY2020 baseline
- Implemented fuel switching initiative from diesel gensets to a hybrid of solar photovoltaic (PV) panels and/or small wind turbines in unmanned platforms
- Decreased freshwater dependency at Kinabalu Oil PSC by recycling water condensed from air-conditioning units
- Achieved 100% recycling of clothing (e.g., coveralls, towels, sheets) on the Anasuria FPSO
- Completed the Macrobenthos Study in LCOT showing remarkable richness and diversity in species
🎯 Climate & Sustainability Targets
🔜 Short-term
- Reduce water consumption
📅 Medium-term
- Achieve 50% reduction of Scopes 1 and 2 emissions by 2030 against FY2020 baseline
🔭 Long-term
- Achieve Net Zero Emissions Producer by 2050
🌱 ESG Focus Areas
Business EthicsPortfolio ResilienceDecarbonisationSafetyCommunityHealth and SafetyClimate Change and GHG EmissionsEnergy UseEffluents and WasteWater SecurityBiodiversitySupply Chain Management - Economic Value GenerationHuman Capital InitiativesCommunity Investment and EngagementHuman RightsPublic Policy and Government RelationsCybersecurity