Reducing the upstream carbon intensity of Equinor’s oil operations is a major component of its ambition to reach net zero emissions by 2050. Most offshore oil production is powered by CO₂-emitting gas turbines and on average, about 15 kg of CO2 were generated for each barrel of oil equivalent (boe) produced worldwide in 2021.
Chevron’s renewable approach aims to support the company’s goal of reducing greenhouse gas intensity by integrating lower carbon solutions into upstream and downstream operations. Chevron’s solar power plant in California’s San Joaquin Valley opened in April 2020 and is expected to provide approximately 80% of energy needs for the production and processing facilities and offices supporting Chevron’s operations at the Lost Hills oil field.
The 35MW direct current solar plant, built by SunPower, is among the largest solar electric systems in California’s Net Energy Metering Program. Over the next 20 years, the plant is expected to generate over 1.4 billion kWh of energy while reducing Chevron’s consumption of grid power, lowering carbon dioxide emissions at Lost Hills, and contributing towards meeting California’s Low Carbon Fuel Standard.
Chevron is committed to supporting affordable, reliable, ever-cleaner energy and exploring increased use of renewables in support of their business. The Lost Hills project was designed and constructed by SunPower and operates under a power purchase agreement. The solar plant will generate credits under California’s Low Carbon Fuel Standard program.
Chevron has also announced an agreement to source over 500MW of its electricity from renewable sources over the next four years to power strategic assets across its global portfolio. Initial projects are expected to be sited on Chevron land and will focus on powering operations in the U.S. Permian Basin (TX and NM), Argentina, Kazakhstan and Western Australia.
What OGCI member companies are doing to reduce carbon intensity
Member companies are focusing on flaring reduction, efficiency improvements, electrification and the integration of renewables in their operations.