ExxonMobil to Cut its Emissions
US supermajor ExxonMobil has announced greenhouse gas reduction measures that are expected to cut its methane emissions by 15% and flaring by 25% in the next two years. It said May 23 it would invest in lower-emission energy solutions such as cogeneration, flare reduction, energy efficiency, biofuels, carbon capture and storage and other technologies and said it had spent more than $9bn on lower-emission energy solutions since 2000.
Its subsidiary XTO Energy has, through leak-detection-and-repair efforts and operational improvements at US production and midstream sites, reduced estimated methane emissions across ExxonMobil operations by 2% in the past year. Combined with additional measures outside the US, focused on the most significant sources of methane, it said it expects to achieve a 15% reduction of methane emissions by 2020 compared with 2016.
Efforts associated with oil and gas production and processing are expected to lower natural gas flaring across ExxonMobil operations by about 25% by 2020 compared with 2016. The most significant reductions are expected to occur in operations in west Africa and include use of third-party infrastructure.
ExxonMobil is a charter member of the Global Gas Flaring Reduction Public-Private Partnership, which is committed to developing commercial opportunities to reduce flaring. The partnership is comprised of oil-producing countries, international and state-owned oil companies and the World Bank.
Further greenhouse-gas emissions reduction efforts will target ExxonMobil’s global refining and chemicals manufacturing network with the goal of improving existing industry-leading energy efficiency performance.