Emirates National Oil Company (ENOC) is a state-owned integrated oil and gas company headquartered in United Arab Emirates. In 2020, it had a reported 9,000 employees*. The company did not report its revenue. ENOC has subsidiaries across the upstream, midstream and downstream sectors. There is no indication it is planning to reduce its fossil fuel reliance and transition to low-carbon activities.
ENOC has only disclosed one target: to reduce scope 1 and 2 emissions by just 1% in 2019. Without forward-looking targets for reducing its scope 1 and 2 and its scope 1, 2 and 3 emissions, the level of ENOC’s climate ambition could not be assessed. To demonstrate commitment to the low-carbon transition, ENOC should endeavour to set intermediate and long-term targets aligned with its 1.5°C pathway.
In 2018, ENOC invested USD 1.6 million in energy and resource management. However, the company does not disclose its total capital expenditure (CapEx), meaning that the proportion of the company’s CapEx designated to low-carbon technologies could not be assessed. The company can improve its disclosure by reporting its forecasted future CapEx for low-carbon and mitigation technologies. Further, the company should strive to direct 77% of its CapEx to low-carbon technologies under the 1.5°C scenario.
ENOC receives a trend score of -. If the company were reassessed in the near future, its score would likely decrease. ENOC only had one emissions reduction target, which was to reduce its scope 1 and 2 emissions intensity by just 1% in 2019. There is no evidence that the company has plans to significantly transition its business model towards low-carbon activities.
ENOC has committed that it will contribute to the UAE Energy Plan 2050, which aims to reduce the country’s emissions by 70%. However, it has set only one concrete emissions reduction target so far, to have reduced scope 1 and 2 emissions intensity by 1% in 2019.
ENOC has started integrating solar energy into its operations and planned to install 44 electric vehicle chargers at its service stations in the UAE in 2020. It is also setting up KPI targets for its upstream subsidiary Dragon Oil. However, there is no evidence that the company plans to reduce dependency on oil and gas.
In 2017, ENOC launched ‘Biodiesel 5’, a fuel containing 95% ordinary diesel and 5% biodiesel made from used cooking oil. However, between 2014 and 2019, the company’s total upstream production increased and there was no evidence that its scope 1, 2 and 3 emissions intensity decreased.
ENOC’s lack of a long-term transition plan suggests that the company will continue to be dependent on fossil fuels in the future. There is no evidence that the company has plans to deploy large-scale low-carbon business activities.