Egyptian General Petroleum Corporation (EGPC)

EGPC has set no targets to reduce the intensity of its greenhouse gas emissions or its absolute emissions. Without targets for reducing its scope 1 and 2 and its scope 1, 2 and 3 emissions intensities, the company’s climate ambition cannot be assessed.
As a national oil company, EGPC will likely have to align with Egypt’s nationally determined contribution (NDC). At present, Egypt’s NDC does not include an economy-wide or oil and gas sector-specific emissions reduction target; it only aims for oil and gas companies to increase their operational efficiency. EGPC should set long-term as well as intermediate emissions reduction targets aligned with its 1.5°C pathway to contribute to combating climate change and to prepare for future iterations of Egypt’s NDCs.

Egypt has abundant solar and wind energy potential, representing an opportunity for capital expenditure (CapEx) in renewable projects. EGPC has not reported CapEx in any capacity. The Ministry of Electricity and Renewable Energy and Electricity Holding Company (EEHC) is responsible for all aspects of electricity generation, transmission and distribution in Egypt, which suggests that electricity production is unlikely to fall under EGPC’s remit. Nevertheless, investing in renewable energy to provide power for its own operations can present EGPC with an opportunity to reduce its scope 2 emissions.

EGPC has not disclosed any decarbonisation commitments. It has no publicly stated emissions reduction targets, which is common among national oil companies.

EGPC does not have a transition plan. As a state-owned national oil company, it is likely to have a level of responsibility in delivering Egypt’s nationally determined contribution (NDC). However, Egypt’s NDC plans for the oil and gas sector are limited to improvements in operational efficiency processes and do not set an economy-wide emissions reduction target.

There is no evidence that EGPC has undertaken CapEx in low-carbon business activities and technologies or research and development investment. The company has continued to produce fossil fuels and has gradually increased its production of refined oil.

EGPC has increased the relative volume of oil and gas it extracts in Iraq and the proportion of oil in its sold product mix, resulting in increasing trends in the company’s scope 1 and 2 and scope 1, 2 and 3 emissions intensities that are not aligned with its 1.5°C pathway.

EGPC has made no public commitments towards decarbonisation. Given the absence of a transition plan and the lack of a commitment to reduce dependence on fossil fuels, there is no indication that the company will align with its 1.5°C pathway.