Wednesday 9 March 2022

Oil and gas majors pledge zero methane emissions by 2030

A group of the world's major oil companies, including bp, ExxonMobil and Saudi Aramco, has made a commitment for zero methane emissions from oil and gas operations by 2030.

The Oil and Gas Climate Initiative (OGCI), which includes 12 of the largest oil and gas firms, has launched the Aiming for Zero Methane Emissions Initiative, calling for an all-in approach “that treats energy industry methane emissions as seriously as the industry already treats safety”.

The heads of the companies, which include Aramco, Chevron, CNPC, Eni, Equinor, Exxonmobil, Occidental, Petrobras, Repsol, Shell and TotalEnergies, believe eliminating methane emissions from the upstream oil and gas industry represents one of the best short term opportunities for contributing to climate change mitigation and for advancing the Paris climate goals.

They plan to put in place “all reasonable means” to avoid methane venting and flaring and to repair detected leaks as well as introduce new solutions to avoid methane emissions.

The OGCI, which remains committed to its methane intensity target of well below 0.20% by 2025, is also calling on other oil and gas companies to join them in their emissions reduction goals.

OGCI Chair Bob Dudley said: “We recognise that eliminating methane emissions from the upstream oil and gas industry represents one of the best short term opportunities for contributing to climate change mitigation and for advancing the goals of the Paris agreement.

“The time has come for us to go further and we believe that the oil and gas industry can and should lead this effort.”