China certifies 1st shipment of carbon-neutral oil
Shanghai Environment and Energy Exchange (SEEE) on September 22 issued the first carbon-neutral certificate to Sinopec, Cosco Shipping and China Eastern Airlines at the certification ceremony for China's first shipment of full life cycle carbon-neutral oil, Sinopec said on September 23.
The crude oil of this carbon-neutral project was produced from Sinopec’s share of oil in Angola and was imported by its trading arm Unipec with Cosco Shipping serving as the carrier. The 30,000 metric tons of crude was later transported to the Sinopec Gaoqiao Petrochemical Corporation refinery.
Sinopec said it will officially launch the carbon-neutral gasoline and diesel products to the public at designated gas stations this year. In the meantime, Sinopec will be supplying 5,417 mt of jet fuel to China Eastern Airlines to build carbon-neutral flights as a joint effort.
To offset the carbon emissions produced throughout the life cycle of the shipment of oil, Sinopec, Cosco Shipping and China Eastern Airlines implemented energy saving and emission reduction strategies, purchased Chinese Certified Emission Reduction carbon credits and hired SEEE as the carbon-neutral certification authority.
The project invited the China Classification Society Certification Company (CCSC) as the third-party verification agency to measure the carbon dioxide produced throughout the entire life cycle, from oil exploitation, transportation, storage, refining to product consumption accurately, and then equally offset the emissions to complete China's first carbon-neutral oil shipment.