US oil sector champions methane controls
Biden administration hopes to fast-track emission restrictions, a popular measure among many large-cap operators
The US oil patch is getting behind a Democrat effort to reimpose regulations on methane emissions. Operators including ExxonMobil, BP, Shell, Total, US independent Occidental Petroleum and Norway’s Equinor all back reinstating limits. Former president Donald Trump revoked regulations last year, despite disapproval among many major operators. But after a year of poor revenue returns, companies waking up to ESG investor concerns and a new president pledging to reduce greenhouse gas emissions (GHGs) by up to 52pc by 2030, emission controls are again an urgent matter. The shale patch hopes natural gas will serve as an important bridging fuel for the energy transition—especially given forecasts
Also in this section
25 April 2024
Carbon capture rates forecast to rise steadily from end of decade, but policy tools to drive large-scale deployment have yet to take shape, according to DNV
23 April 2024
Europe must unlock cross-border CO₂ trade if it wants to build a viable CCS sector for the long term
16 April 2024
US and European oil majors snap up smaller players and look to accelerate development in a region deemed to possess all the key elements for successful CCUS deployment
15 April 2024
Demand for credits seen rising 20% this year despite issues around integrity and standardisation