To see what we’ve achieved so far, take a look at our 2023 Progress Report >

OGCI Q3 2023 Newsletter: OGCI Progress Report shows low-carbon investment grows 66%

The title of the article, "OGCI Quarterly Newsletter - OGCI's Progress Report shows low-carbon investment grows 66%", overlaid on a picture of an oil facility looking up towards the sky.

This edition’s top story

OGCI launched its 2023 Progress Report and Performance Data – reporting collective low-carbon investment to $24.3 billion in 2022, taking the total member companies have invested since 2017 to $65 billion.

You can read about OGCI’s progress here » Short on time? Watch our videos on individual chapters here: methane » , CCUS » and net zero solutions »

In case you missed it

A new OGCI study has identified a pathway to reduce over 65% of a refinery’s carbon emissions by 2040, given sufficient availability of low-carbon power. You can read the report here » or watch this video for a summary of our findings »

In August, OGCI set out a four-step pathway to support oil and gas operators cutting their methane emissions. Steps include identifying potential sources of methane and taking inventory, determining how those emissions will be mitigated, prioritizing the biggest opportunities and taking a systematic approach to abatement. Read the guidance »

OGCI, together with IOGP and Ipieca, published a recommended practices for selecting and deploying methane detection and quantification technologies. An online technology filtering tool, detailed data sheets covering around 50 technologies and decision trees to guide technology deployment have also been developed alongside the report. Interested? Click here »

The Aiming for Zero Methane Emissions Initiative continues to expand, with new supporters including the Society of Petroleum Engineers (SPE) and Accenture. The initiative now has around 90 signatories and supporters. Find out more about the initiative »

In other news

As we head into COP28, Bjørn Otto Sverdrup, Chair of OGCI’s Executive Committee outlines three major opportunities for collective action to achieve Paris Agreement goals: aiming for near zero emissions; decarbonizing oil and gas operations; and, reducing emissions from heavy industry and transport.

In a recent Energy Connects interview, Julien Perez, OGCI’s VP for Strategy & Policy, shares his thoughts on prioritizing methane emissions reduction, the technology developments that support this, and why COP28 will be a pivotal moment for the energy transition. Watch the interview »

Coming up

OGCI will soon release a report on opportunities and risks of CCUS deployment in Brazil as part of our ongoing efforts to support global CCUS development. Find out more about OGCI’s involvement in CCUS hubs »

  • Nov 30 – Dec 12: COP 28, Dubai
  • May 15-17, 2024: Future Energy Asia, Bangkok Register »
  • July 1-3, 2024: Global Energy Transition Congress and Exhibition, Milan Register »
See what we're doing

Read our latest progress report