OGCI Net-Zero Goal: What's the Real Significance?

Copyright © 2021 Energy Intelligence Group

For the first time, the Oil and Gas Climate Initiative (OGCI) has declared a shared goal to achieve net-zero emissions from operations under their control and also leverage their influence to achieve the same in nonoperated assets. It does not however set a firm date, but says it aims to do this “within the framework set by the Paris Agreement” which specifies “the second half of this century.” The goal was part of a wider strategy update this week. The 12-member group, which comprises Saudi Aramco, BP, Chevron, China National Petroleum Corp. (CNPC), Eni, Equinor, Exxon Mobil, Occidental, Petrobras, Repsol, Royal Dutch Shell and TotalEnergies, accounts for around 30% of the world’s oil and gas production.

As European consumers face a winter of presumably high energy prices, Brussels is discussing ways to cushion the blow.
Wed, Oct 13, 2021
As he looks to protect his right flank ahead of April's presidential election, French President Emmanuel Macron is dialing up support for new nuclear.
Fri, Oct 15, 2021
Neste's marketing push anticipates a 1.5 million ton increase in its SAF capacity in 2023.
Fri, Oct 15, 2021