OGCI’s new Performance Data hub provides greater accessibility to our emissions and low-carbon investment data, supporting our commitment to reporting and transparency.
The data can be downloaded in full, or as individual tables or charts.
OGCI has been publishing third-party reviewed, aggregated emissions data from our member companies since 2017.
Our Performance Data includes operated oil and gas production, greenhouse gas emissions, upstream carbon intensity, upstream methane emissions and intensity, flaring, and investment and R&D in low-carbon technologies.
Definitions and descriptions of reporting scope and boundaries are provided in the topic tables.
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In 2023, OGCI’s members produced 43.3 million boe/day. This represents 26% of global oil and gas on an operated basis. The group’s aggregate Scope 1 and 2 emissions represented approximately 13% of the global oil and gas industry’s total.
Notes:
1 Provisional estimate of global oil and gas production of roughly 165 Mboe/day in 2023, based on IEA indicators for oil production of 97.8 Mboe/day and global natural gas production of 67.3 Mboe/day. OGCI member companies’ share of total oil and gas production is 26.2% on an operated basis and 24.8% on an equity basis. Source: IEA Oil Market Report (January 2024), IEA Gas Market Report Q1 2024.
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Since 2017, OGCI members’ have decreased their collective Scope 1 greenhouse gas emissions from operated assets by 19%. Over the same period, the group’s members have decreased operated upstream carbon intensity by 21%, making progress towards OGCI’s 2025 collective upstream carbon intensity target of 17 kg/boe.
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This is the second year that OGCI is publishing equity emissions, in line with the group’s commitment to greater transparency. Equity reporting includes emissions from assets owned, even where they are operated by partners.
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Since 2017, OGCI member companies’ have more than halved aggregate methane emissions – upstream and across all sectors. OGCI members’ have also more than halved aggregate methane intensity, which was 54% lower in 2023 compared with 2017.
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OGCI member companies continued to reduce flaring volumes and related greenhouse gas emissions from flaring in 2023, in line with their commitment to end upstream routine flaring and achieve near zero methane emissions by 2030.
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In 2023, OGCI member companies’ cumulative investment since 2017 in low-carbon technologies, including acquisitions and research and development,
totalled $95.8 billion. This includes a record $29.7 billion in 2023.
Our 2024 report sets out OGCI’s 10 years of action to reduce methane emissions, capture and store carbon dioxide and develop low-carbon fuels and solutions to decarbonize transport.
The Oil and Gas Climate Initiative is a CEO-led organization bringing together 12 of the largest oil and gas companies worldwide to lead the industry’s response to climate change.
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In 2023, aggregate operated oil and gas production from the 12 OGCI member companies was 1% lower year-on-year at 43.3 Mboe/day. OGCI member companies operated 26% of global oil and gas production in 2023. 1
Factors including divestments, reclassification of an LNG asset from operated to non-operated and reduced demand and sales, offset an increase in oil and gas production across some companies.
Oil production decreased 1% compared with the previous year, while gas production was 3% lower.
Production trends across the companies was mixed. In 2023, oil production was slightly lower on the year as divestments and lower demand and sales at some companies offset an increase in production at other companies from new wells, fields
and stronger demand.
Gas production was lower mostly due to planned shutdowns for maintenance, repair and upgrades, divestments and the reclassification of an asset to non-operated.
Notes:
1 Provisional estimate of global oil and gas production of roughly 165 Mboe/day in 2023, based on IEA indicators for oil production of 97.8 Mboe/day and global natural gas production of 67.3 Mboe/day. OGCI member companies’ share of total oil and gas production is 26.2% on an operated basis and 24.8% on an equity basis. Source: IEA Oil Market Report (January 2024), IEA Gas Market Report Q1 2024.
| OGCI Indicators | Units | 2017 | 2018 | 2019 | 2020 | 2021i | 2022i | 2023 | 17-23 | 22-23 | |
| Total OGCI oil production (operated) | M boe / day | 29.8 | 29.9 | 29.7 | 28.4 | 27.9 | 28.4 | 28.2 | -5% | -1% | |
| Total OGCI gas production (operated) | M boe / day | 15.2 | 15.7 | 16.1 | 15.1 | 15.6 | 15.5 | 15.1 | -1% | -3% | |
| Total oil and gas production (operated) | M boe / day | 45.0 | 45.6 | 45.8 | 43.5 | 43.5 | 43.9 | 43.3 | -4% | -1% | |
| Share of natural gas in operated portfolio | % | 33.8 | 34.3 | 35.2 | 34.7 | 35.9 | 35.5 | 34.9 | 3% | -1% | |
| Total oil and gas production (equity) | M boe / day | 42.5 | 42.4 | 42.9 | 41.6 | 41.1 | 41.7 | 41.0 | -4% | -2% |
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In 2023, OGCI’s collective upstream carbon intensity fell to 17.9 kg/boe, a 1% decrease compared to the previous year. This brings the total reduction in carbon intensity since 2017 to 21%.
In 2023, OGCI members’ aggregate Scope 1 greenhouse gas (GHG) emissions at operated assets from all sectors (including upstream and downstream) was 575 Mt CO2e. This is a 3% decrease compared to the previous year and a 19% decrease since 2017.
OGCI members aggregate Scope 1 operated GHG emissions of 575 Mt CO2e represents 1% of global greenhouse gas emissions, using latest 2022 data from UNEP’S Emissions Gap Report published in 2023. 1
Scope 1 upstream GHG emissions fell by 2% over the year (and a total of 23% since 2017), due to methane emissions reductions, energy efficiency investments, projects to reduce carbon emissions in exploration and production, and divestments.
Scope 2 upstream operated GHG emissions were up 3% over the year due to factors including the addition of a refinery to 2023 data, an increase in production and acquisitions and an increase in specific emissions factors for electricity. Overall since 2017, Scope 2 upstream operated GHG emissions decreased 9%.
Downstream, which accounts for around half of OGCI member companies’ aggregate Scope 1 greenhouse gas emissions, has shown slower progress than upstream, reflecting the complexity and longer timelines of emissions reduction efforts in refineries.
| OGCI Indicators | Units | 2017 | 2018 | 2019 | 2020 | 2021v | 2022v | 2023 | 17-23 | 22-23 | |
| Upstream Carbon Intensity i | kg CO2e / boe | 22.7 | 22.1 | 21.3 | 20.4 | 19.2 | 18.1 | 17.9 | -21% | -1% | |
| Total operated greenhouse gas emissions – all sectors (Scope 1) ii | MtCO2e | 709 | 687 | 684 | 633 | 621 | 590 | 575 | -19% | -3% | |
| of which upstream GHG emisssions (Scope 1) iii | MtCO2e | 362 | 349 | 343 | 311 | 298 | 282 | 277 | -23% | -2% | |
| Upstream operated greenhouse gas emissions (Scope 2) iv | MtCO2e | 41.40 | 43.5 | 43.7 | 39.4 | 38.2 | 36.7 | 37.7 | -9% | 3% |
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In 2023, total greenhouse gas emissions on an equity basis for Scope 1 and Scope 2 were 575 Mt CO2e and 84 MtCO2e respectively. In 2023, total Scope 1 equity GHG emissions fell by 3% compared to the previous year. Scope 2 equity emissions increased by 1% due to reductions in energy attribute certificates and the rise in emissions factors for certain national electricity mixes.
Total methane emissions on an equity basis were 0.88 Mt of methane in 2023, a 6% decrease compared with the previous year.
| OGCI Indicators | Units | 2021 i | 2022 i | 2023 | 22-23 | |
| Total equity GHG emissions Scope 1 | MtCO2e | 562 (10) | 596 (11) | 575 (11) | -3% | |
| Total equity GHG emissions Scope 2 | MtCO2e | 69 (10) | 83 (11) | 84 (11) | 1% | |
| Total equity CH4 emissions | MtCH4 | 1.13 (10) | 0.94 (10) | 0.88 (10) | -6% | |
| Equity CH4 emissions– Upstream | MtCH4 | 1.09 (10) | 0.90 (11) | 0.83 (11) | -7% |
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OGCI members reported an aggregate upstream operated methane intensity of 0.14% in 2023, a 5% decrease year-on-year and 54% lower compared with 2017. OGCI members had already achieved their collective methane intensity target of well below 0.20% in 2021 – four years early.
In 2023, total operated upstream methane emissions were 0.89 MtCH4. This represents a 7% decrease compared with 2022 and a 55% decrease versus 2017. The year-on-year reduction is mainly a result of continued equipment and system upgrades, improved flaring controls, continued leak detection and repair, and improved calculation methodologies. Divestment of assets also played a role for some companies.
In 2023, the upstream sector accounted for around 90% of OGCI total methane emissions. Venting and fugitive leaks accounted for over almost 70% of total upstream methane emissions.
OGCI member companies are striving to reach near zero methane emissions from their operated assets by 2030. They are sharing what they are learning about detection, measurement and abatement across the industry.
| OGCI Indicators | Units | 2017 | 2018 | 2019 | 2020 | 2021 iii | 2022 iii | 2023 | 17-23 | 22-23 | |
| Upstream Methane intensity i | % | 0.300 | 0.250 | 0.230 | 0.209 | 0.174 | 0.144 | 0.137 | -54% | -5% | |
| Total operated methane emissions – upstream | MtCH4 | 1.95 | 1.70 | 1.60 | 1.30 | 1.16 | 0.96 | 0.89 | -55% | -7% | |
| Total operated methane emissions – all sectors ii | MtCH4 | 2.1 | 1.90 | 1.70 | 1.40 | 1.25 | 1.02 | 0.97 | -54% | -5% |
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OGCI member companies continued to reduce flaring volumes and related greenhouse gas emissions from flaring in 2023, in line with their ambition to end upstream routine flaring and achieve near zero methane emissions from operated oil and gas assets by 2030.
In 2023, upstream flaring intensity increased by 1% year-on-year as volumes of natural gas flared upstream were little changed on the previous year partly due to non-routine flaring events for safety reasons. Overall, upstream flaring intensity in 2023 is 45% lower than the 2017 baseline.
In 2023, GHG emissions from upstream flaring were 4% lower than in 2022 as non-routine flaring events for safety reasons partially offset flaring reduction projects, a divestment and the start up of an LNG plant in 2022.
In 2023, total routine gas flared volumes in upstream fell 10% compared with the previous year due to flaring reduction projects. Total routine gas flared volumes upstream were 53% lower in 2023 than in 2018 – the first year of published data for this metric. Some of the reduction since 2018 was attributed to improved production practices, such as flaring reductions for targeted assets, flare gas recovery
systems, gas compression and capture projects.
Since 2017, greenhouse gas emissions from upstream flaring have decreased by 47%.
| OGCI Indicators | Units | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 17-23 | 22-23 | |
| Upstream Flaring Intensity | Mm3/ Mtoe | 10.8 | 9.5 | 9.2 | 7.6 | 7.4 | 5.8 | 5.9 | -45% | -1% | |
| Total natural gas flared – Upstream | Mm3 | 24,221 | 21,465 | 20,998 | 16,490 | 15,998 | 12,775 | 12,705 | -48% | -0.6% | |
| Total routine gas flared – Upstream | Mm3 | N/A | 5,636 (10) | 4,871 (10) | 4,250 (11) | 4,165 | 2,926 (11) | 2,627 (11) | N/A | -10% | |
| Flaring greenhouse gas emissions – Upstream | MtCO2e | 62 | 57 | 55 | 44 | 42 | 34 | 33 | -47% | -4% |
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In 2023, aggregate low-carbon investment, including acquisitions and R&D totalled a record $29.7 billion. This represents a 15% increase compared with the previous year. Renewable energy accounted for more than half the investment. Meanwhile, companies reported more organic investment in these types of projects compared to the previous year, which was characterized by large acquisitions.
Investment in CCUS continued to grow with some companies concentrating on the technology as part of their strategies to reduce emissions.
R&D spending on low-carbon technologies increased 17% in 2023 versus the previous year to $2 billion and comprised over a third (35.4%) of total R&D spend.
Since 2017, OGCI member companies’ cumulative investment on low-carbon technologies and projects, including R&D and acquisitions, amounted to $95.8 billion.
| OGCI Indicators | Units | 2017 | 2018 | 2019 | 2020 | 2021 i | 2022 i | 2023 | 17-23 | 22-23 | |
| Total spent in low-carbon projects (including acquisitions)ii | $ billion | 4.7 (10) | 5.5 (10) | 5.6 (10) | 6.8 (12) | 13.3 (10) | 24.2 (11) | 27.7 (11) | 489% | 14% | |
| of which acquisitions | $ billion | 0.3 (5) | 1.0 (5) | 1.1 (9) | 1.6 (19) | 7.7 (9) | 13.2 (10) | 7.1 (9) | 2254% | 2254% | |
| R&D expenditures on low-carbon technologies iii | $ billion | 0.7 (9) | 1.0 (9) | 1.0 (9) | 0.8 (11) | 1.3 (11) | 1.7 (11) | 2.0 (11) | 182% | 182% | |
| Low-carbon R&D as a share of total R&D spend | % | 19 (9) | 15.0 (9) | 15.0 (9) | 11.7 (11) | 17.3 (11) | 30.2 (11) | 35.4 (11) | 86% | 17.3% |
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