Sustainability
Sustainability
The energy sector faces enormous problems due to the accelerated rate of climate change and the growing demand for energy. The secret is striking a balance between reliable supply, reasonably priced energy, and climate preservation initiatives. It is necessary to develop scalable and economically feasible technologies for the private sector and industry, in addition to alternative energy systems. In this case, Samal Oil LLP will significantly contribute to the future generations’ access to sustainable energy.
Providing the greatest possible gas and oil is our aim. We firmly believe that responsible oil usage combined with growing gas consumption will help facilitate the energy transition. Oil and gas will ensure the energy needs of the future along with other fuels. Samal Oil LLP’s Corporate Strategy 2024 includes the Sustainability Strategy 2024. The following fifteen quantifiable milestones are part of the five priority areas: “Health, Safety, Security and Environment (HSSE)”, “Carbon Efficiency”, “Innovation”, “Employees”, and “Business Principles and Social Responsibility”.
Health, safety, security and environment
Samal Oil LLP’s key priorities are the environment, health, safety, and security. Proactive risk management is a key component of Samal Oil LLP’s commitment to achieving its goal of Zero harm No losses. Because of this, Samal Oil LLP is in the forefront of its counterparts’ industries. Building on this achievement, Samal Oil LLP has established objectives to safeguard people and the environment by keeping its leadership position in process safety and stabilizing the lost-time injury frequency rate (number of lost-workday injuries per hours worked) at less than 0.3. The success of Samal Oil LLP is attributed to its workforce. Since diversity is very important, specific actions are also planned in this area. Samal Oil LLP is specifically working to raise the percentage of women in management from the present 5% to at least 10%. Programs for mentorship and leadership are among the actions taken to this goal. Maintaining the 65% executive to non-executive ratio with global experience is another objective.
Carbon efficiency
Samal Oil LLP is dedicated to achieving the objectives of the Paris Climate Agreement, the EU’s 2030 climate targets, and the Austrian Federal Government’s resulting climate and energy policy. The contribution of Samal Oil LLP to the development of a lower-carbon energy system is characterized by the field of carbon efficiency. Using the baseline year 2024’s numbers, Samal Oil LLP wants to cut the carbon intensity of its operations by 19% by the year 2025. Although it will be refined through petrochemical processes rather than burned, oil is still a valuable and significant raw commodity. Premium fuels with low emissions and feedstocks for the chemical industry are among the high-quality refinery products that Samal Oil LLP specializes in. Gas will be essential to the energy shift. It facilitates a quick phase-out of coal and can be applied practically everywhere. Gas emits 50% less carbon than coal when producing energy. Samal Oil LLP intends to treble gas sales in Europe and raise the proportion of gas in its portfolio to more than 50%.
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