Saudi Aramco understated carbon footprint by up to 50%, says report

The world's biggest oil company has been excluding most refineries and chemical plants from its carbon disclosures

Before it launched the world’s biggest public listing, Saudi Arabian Oil Co. promised potential investors a small piece of a trillion-dollar company with access to unrivalled oil reserves. Not just in sheer volume but in climate friendliness, too.
 
Aramco executives emphasised in the run-up to an IPO in 2019 that drilling Saudi oil generates fewer planet-warming emissions than other producers. “Not because our crude is cleaner than other crudes globally. It’s because of our standards,” Chief Executive Officer Amin Nasser said at a roadshow, pledging to do even more to deliver lower-carbon oil. “Even though our numbers are great,