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.
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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.