Preem hands over emission allowances following a reporting error

Preem has now compensated for the incorrect reporting of emissions that the company itself discovered in the fall. In dialogue with the Swedish Environmental Protection Agency, Preem has handed over emission allowances corresponding to the amount that was underreported. The transfer took place on March 8. 

It was during a voluntary internal control at Preem’s refinery in Lysekil that an error was discovered in the carbon dioxide emission calculations that are reported annually to the Swedish Environmental Protection Agency. The inspection showed that Preem on five occasions (2016-2021) reported a lower figure than the company’s actual emissions. 

During the fall, Preem voluntarily contacted the Swedish Environmental Protection Agency to make them aware of the extent of the incorrect reporting. Since then, Preem has worked with the authorities to clarify how the error could have occurred and to ensure that it does not recur. 

The error has now been technically rectified, and Preem has handed over emission allowances corresponding to the amount of emissions that were underreported. The transfer took place on March 8, and amounted to 676,772 emission allowances. 

"We acted as soon as we discovered the error. We have now carried out the necessary checks to assure ourselves and the Swedish Environmental Protection Agency that the error will not occur again. In parallel, we have appointed an internal investigation to review our routines. The final step has been to hand over emission allowances corresponding to the amount we incorrectly reported. We have now done that,” says Malin Hallin, Head of Health, Safety and the Environment. 

The reason for the incorrect reporting was a programming error in a database that measures the carbon content of spent fuel in the refinery process. 

For more information, please contact:
Preem Press Office
press@preem.se
+46 (0)70-450 10 01

PREEM is Sweden’s largest fuel company. Our vision is to lead the transition toward a sustainable society. By 2030, Preem will produce 5 million cubic meters of renewable fuels, and to achieve climate neutrality by 2035. Preem’s two refineries are among the most modern and environmentally friendly in Europe with a refining capacity of over 18 million cubic meters per year. Our business includes production, sales, distribution, as well as trading and the sale of goods. We refine and sell fuel, heating and lubricating oil as well as other products to companies and individuals. Most of our products, almost 80 percent, are exported to the international market, mainly to northwestern Europe. We have a nationwide service network with 520 filling stations for private and commercial traffic. Preem AB has just over 1,400 employees, of which 1,100 work at our refineries. In 2020, Preem’s turnover was SEK 68.2 billion.