Majors making progress on methane emissions
ExxonMobil is the latest to announce progress on tackling upstream emissions of the potent greenhouse gas, and many are strengthening their commitments
ExxonMobil has met the methane emission reduction targets it set in 2016, part of an increasing pivot among the oil and gas majors towards reducing the emissions of their upstream operations. Reaffirmed in 2018, it announced plans to reduce methane emissions by 15pc and flaring by 25pc by 2020 compared with 2016 levels. The US major has established new plans for 2025 that are projected to be consistent with the goals of the Paris Agreement, according to Stephen Littleton, vice president of investor relations. “These plans are expected to reduce absolute upstream greenhouse gas [GHG] emissions by 30pc,” he says. The firm also announced a 40-50pc decrease in methane intensity by 2025 against 2
Also in this section
5 December 2024
Completion of phase-one construction expected in 2027 as technology providers SLB and Linde take equity stakes in one of world’s largest CCS projects
5 December 2024
The new edition of Outlook, our annual publication about the year ahead for energy, produced in association with White & Case, is available now
27 November 2024
The agreement by the parties to raise at least $300b/yr for developing countries by 2035 was derided as a betrayal by the Global South, but the UN urged pragmatism
26 November 2024
Agreements on how to operationalise both Article 6.2 and 6.4 will mean countries can start to trade emissions reductions as part of their contributions to the Paris Agreement
