Working together has enabled a diverse group of the world’s leading energy companies to accelerate action on methane emissions, CCUS and other low-carbon technologies needed to achieve net zero, CEOs from the group told a recent roundtable in Houston.
CEOs from the 12-member Oil and Gas Climate Initiative (OGCI) provided the insights on the activities and impact of OGCI over the last 10 years and the agenda for the future, at this year’s CERAWeek conference in Houston.
Since 2017, OGCI’s 12 member companies have collectively halved their methane emissions, cut flaring by 45%, invested US$65 billion in low-carbon technologies and helped companies outside the group to decarbonize.
Daniel Yergin, S&P vice chairman and session moderator, said: “It’s quite remarkable what’s been achieved within the boundaries of what should be OGCI – and without it, the industry, the companies and the world would be in a different place.”
OGCI Chairman and former bp CEO Bob Dudley joined CEOs of OGCI member companies – bp’s Murray Auchincloss, Chevron’s Mike Wirth, Eni’s Claudio Descalzi, Equinor’s Anders Opedal, ExxonMobil’s Darren Woods, Oxy’s Vicki Hollub, Petrobras’s Jean-Paul Prates and TotalEnergies’ Patrick Pouyanné – at the roundtable.
Learn more about OGCI’s work in our annual Progress Report
OGCI
- OGCI aims to lead the oil and gas industry’s response to climate change and accelerate action towards a net zero future consistent with the Paris Agreement.
- Over the past decade OGCI members have demonstrated the essential role that oil and gas companies can play in delivering a net zero future.
- Since 2017, OGCI’s members have collectively halved their methane emissions, cut flaring by 45%, invested $65 billion in low-carbon technologies, including renewables, CCUS and direct air capture, biofuels and hydrogen, and shared best practices across the industry and other sectors to accelerate decarbonization.
- OGCI’s members are Aramco, bp, Chevron, CNPC, Eni, Equinor, ExxonMobil, Oxy, Petrobras, Repsol, Shell and TotalEnergies.
