MEG Energy Corp

Common Name
MEG Energy
Country
Canada
Sector
Energy
Industry
Oil & Gas E&P
Employees
473
Ticker
MEG
Exchange
TORONTO STOCK EXCHANGE
Description
Meg Energy Corp. is a Canadian-based oil sands company focused on thermal oil production in the province of Alberta. The company's primary function is the extraction and processing of petroleum resour...

MEG Energy's GHG Emissions Data Preview

In 2022, MEG Energy completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources) and Scope 2 (indirect emissions from purchased energy).

However, MEG Energy has not published a category-level breakdown of its Scope 3 emissions, limiting visibility into specific value chain sources.

Metric (tCO2e)2022202120202019 - 2017
Total Scope 1
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Total Scope 2
Unspecified Calculation Method
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Total Scope 3
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Total Scope 1 Revenue Intensity (tCO2e/$M)
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Verified Sources Behind MEG Energy’s Greenhouse Gas (GHG) Emissions Data

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a. MEG Energy's ESG Report 2023
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Insights into MEG Energy's Operational Emissions

In 2022, the total operational greenhouse gas (GHG) emissions of MEG Energy amounted to 2,368,464 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2). a

Compared to 2021, the total operational greenhouse gas (GHG) emissions of MEG Energy decreased by 2.9%, showing that the company has made progress in taking action to reduce the climate impact of its operations. a

MEG Energy's Scope 1 Emissions Over Time

201820192020202120220650 k1.3 M1.95 M2.6 MtCO2e+8%-8%+15%-3%
  • Total Scope 1
  • Year-over-Year Change

What are MEG Energy's Scope 1 emissions?

In 2022, the total Scope 1 emissions of MEG Energy were 2,368,081 metric tons of CO₂ equivalent (tCO₂e). a

Has MEG Energy reduced its Scope 1 emissions over time?

Since 2018, MEG Energy's Scope 1 emissions have increased by 10.63%, reflecting a rising long-term trend in Scope 1 emissions over time. a

Compared to the previous year (2021), MEG Energy's Scope 1 emissions decreased by 2.91%, highlighting the company's efforts to lower direct emissions from assets it owns or controls. a

What are MEG Energy's Scope 2 emissions?

In 2022, MEG Energy reported Scope 2 greenhouse gas (GHG) emissions of 383 tCO₂e without specifying the calculation method. a

Has MEG Energy reduced its Scope 2 emissions over time?

Since 2018, MEG Energy's Scope 2 greenhouse gas (GHG) emissions (Unspecified Calculation Method) have increased by 1,815%, reflecting a rising long-term trend in Scope 2 emissions over time. a

What methodology does MEG Energy use for Scope 2 reporting?

In 2022, MEG Energy reported its Scope 2 emissions using an unspecified methodology. a

MEG Energy's Scope 2 Emissions Over Time

201820192020202120220100200300400tCO2e
  • Total Scope 2 (Unspecified Calculation Method)

Insights into MEG Energy’s GHG Emissions Intensity Compared to Industry Peers

In 2022, MEG Energy reported Scope 1 greenhouse gas (GHG) emissions of 2,368,081 tCO₂e and total revenues of USD 4,687 millions. This translates into an emissions intensity of 505.3 tCO₂e per millions USD. a

MEG Energy's Scope 1 Emissions Intensity Compared to Peers

1050020,0001,000,000100,000,000Scope 1 Emissions (tCO2e)2001,0005,00020,000200,000Revenues (Millions of USD)OEnergeanYear: 2023Scope 1: 220,579 tCO2eRevenue: $M 1,420Scope 1 Intensity: 155.38 tCO2e/$MOOOriental EnergyYear: 2023Scope 1: 455,919 tCO2eRevenue: $M 3,816Scope 1 Intensity: 119.46 tCO2e/$MParamount ResourcesYear: 2023Scope 1: 460,416 tCO2eRevenue: $M 1,551Scope 1 Intensity: 296.81 tCO2e/$MVar EnergiYear: 2023Scope 1: 195,706 tCO2eRevenue: $M 6,816Scope 1 Intensity: 28.71 tCO2e/$MVital EnergyYear: 2023Scope 1: 663,046 tCO2eRevenue: $M 1,548Scope 1 Intensity: 428.43 tCO2e/$MSM EnergyYear: 2023Scope 1: 484,493 tCO2eRevenue: $M 2,364Scope 1 Intensity: 204.96 tCO2e/$MTourmaline OilYear: 2022Scope 1: 2,933,544 tCO2eRevenue: $M 6,411Scope 1 Intensity: 457.55 tCO2e/$MGulfport EnergyYear: 2023Scope 1: 275,100 tCO2eRevenue: $M 1,051Scope 1 Intensity: 261.66 tCO2e/$MCNX ResourcesYear: 2023Scope 1: 559,769 tCO2eRevenue: $M 1,506Scope 1 Intensity: 371.62 tCO2e/$MMagnolia Oil & GasYear: 2023Scope 1: 479,393 tCO2eRevenue: $M 1,227Scope 1 Intensity: 390.71 tCO2e/$MNorthern Oil and GasYear: 2023Scope 1: 14 tCO2eRevenue: $M 1,917Scope 1 Intensity: 0.01 tCO2e/$MPermian ResourcesYear: 2023Scope 1: 2,150,671 tCO2eRevenue: $M 3,121Scope 1 Intensity: 689.12 tCO2e/$MMurphy OilYear: 2023Scope 1: 1,083,362 tCO2eRevenue: $M 3,449Scope 1 Intensity: 314.12 tCO2e/$MMedco Energi InternasionalYear: 2022Scope 1: 5,710,288 tCO2eRevenue: $M 2,312Scope 1 Intensity: 2,469.60 tCO2e/$MAPA Corp (US)Year: 2023Scope 1: 5,962,000 tCO2eRevenue: $M 8,279Scope 1 Intensity: 720.14 tCO2e/$MCoterra EnergyYear: 2023Scope 1: 1,358,410 tCO2eRevenue: $M 5,914Scope 1 Intensity: 229.69 tCO2e/$MEOG ResourcesYear: 2023Scope 1: 5,700,000 tCO2eRevenue: $M 23,182Scope 1 Intensity: 245.88 tCO2e/$MPTTEPYear: 2023Scope 1: 6,744,227 tCO2eRevenue: $M 8,733Scope 1 Intensity: 772.23 tCO2e/$MConocoPhillipsYear: 2024Scope 1: 15,500,000 tCO2eRevenue: $M 54,745Scope 1 Intensity: 283.13 tCO2e/$MExpand EnergyYear: 2023Scope 1: 799,373 tCO2eRevenue: $M 7,775Scope 1 Intensity: 102.81 tCO2e/$MMEG EnergyYear: 2022Scope 1: 2,368,081 tCO2eRevenue: $M 4,687Scope 1 Intensity: 505.30 tCO2e/$M

How does MEG Energy's GHG emissions intensity compare to its peers?

In 2022, MEG Energy reported a Scope 1 emissions intensity of 505.3 tCO₂e per millions USD. Compared to the peer group median of 289.97, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors. a

Where does MEG Energy rank on GHG emissions intensity within its industry?

In 2022, MEG Energy ranked 17 out of 20 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD). a

This places MEG Energy among the least efficient performers, with one of the highest emissions intensities in its sector. a

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