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Oil & Gas Climate Initiative Commits to Cutting Emissions (Int'l)
Oil and Gas Climate Initiative
Date: 2019-10-28
In London, the thirteen-member Oil and Gas Climate Initiative (OGCI) is reporting a $1 billion commitment to support the goals of the Paris Climate Accord -- including investments in carbon capture, use and storage (CCUS) and supporting carbon taxes and economic incentives aimed at reducing emissions.

Initially, OGCI will help decarbonize multiple industrial hubs in the United States, United Kingdom, Norway, the Netherlands and China. The OGCI also aims to build on the industry's reduction in methane emissions (9 pct in 2018) and to include carbon emissions in hope that future temperature increases will not exceed 2 degrees Celsius. To complement its methane emissions-intensity target, OGCI seeks to reduce collective average carbon intensity by 2025.

The OGCI member companies -- BP, Chevron, CNPC, Eni, Equinor, ExxonMobil, Occidental, Pemex, Petrobras, Repsol, Saudi Aramco, Shell and Total -- account for 32 pct of global operated oil and gas production, according to the OGCI website. (Source: OGCI, Alex Mills, Tims Record News, 28 Oct., 2019) Contact: Oil and Gas Climate Initiative, +44 (0)203 922 0853, contact@climateinvestments.energy, www.oilandgasclimateinitiative.com

More Low-Carbon Energy News Oil and Gas Climate Initiative ,  


Wood Plc Leads Major Carbon-Capture Engineering Project (Int'l)
Wood plc
Date: 2019-03-27
Aberdeen, Scotland-based global engineering giant Wood plc is reporting receipt of a multi-million-dollar contract from the Oil and Gas Climate Initiative Climate Investments (OGCI CI) for conceptual engineering for its gas power and industrial carbon capture (CCS) project. The project was first announced in 2016.

Wood will lead this first-of-a-kind project which aims to reduce CO2 emissions. The industrial carbon capture design will initially cover five of the principal industrial emitters of CO2: the production of hydrogen, fertilizer, petrochemicals, cement and steel.

Climate Investments is a $1 billion plus fund investing in technologies and business models to lower the carbon footprint of the energy and industrial sectors and their value chains. The fund was created by the CEOs of the Oil and Gas Climate Initiative to take practical action on climate change. They invest in innovative companies that are ready to be commercialized and collaborate with global co-investors and industrials to achieve speed and scale. (Source: Wood Plc, Chemical Engineering, 26 Mar., 2019) Contact: Wood Plc, Bob MacDonald, CEO, Technical Solutions, www.woodplc.com; OGCI CI, https://oilandgasclimateinitiative.com/climate-investments

More Low-Carbon Energy News Carbon Capture,  CO2,  CCS,  


Oil, Gas Players Pledge to Slash Methane Emissions (Ind. Report)
Oil and Gas Climate Initiative
Date: 2018-09-26
The 13-member Oil and Gas Climate Initiative (OGCI) -- which includes Exxon Mobil, Chevron and others -- reports it is committed to cutting methane emissions to an intensity of 0.25 pct of all fossil fuel the group's member companies produces by 2025. The pledge could be cut further to 0.2 pct intensity, which would echo targets set individually by group members BP, Royal Dutch Shell and XOM to reduce methane emissions.

The OGCI, which also counts France's Total as well as national oil companies of China, Mexico, Brazil and Saudi Arabia among its members, represents nearly a third of global oil and gas production. (Source: OGCI Website, Seeking Alpha, 24 Sept., 2018) Contact: Oil and Gas Climate Initiative, www.oilandgasclimateinitiative.com

More Low-Carbon Energy News Oil and Gas Climate Initiative,  


Petrobras Joining Oil and Gas Climate Initiative (Int'l)
Petrobras,Oil and Gas Climate Initiative
Date: 2018-01-31
In Brazil, Rio de Janeiro-headquartered Petrobras to is reporting it is joining the Oil and Gas Climate Initiative (OGCI), a CEO-led group of oil and gas companies that intends to lead the industry's response to climate change and reduce greenhouse emissions. OGCI existing members include BP, CNPC, Eni, Pemex, Repsol, Saudi Aramco, Shell, Statoil and Total.

The OGIC's billion-dollar investment arm -- OGCI Climate Investments -- supports the development, deployment and scale-up of low emissions technology. Taken together, oil and gas production by OGCI member companies represents more than a quarter of the world’s oil and gas production.

Petrobras, headquartered in Brazil, is a publicly-held company active in exploration and production, refining, marketing, transportation, petrochemicals, oil product distribution, natural gas, electricity, chemical-gas and biofuel segments. It has a presence in 19 countries and employees around 70,000 people. (Source: Petrobras, MarEx, Others, 28 Jan., 2018) Contact: Petrobras , Pedro Parente, CEO, sac@petrobras.com.br, www.petrobras.com; Oil and Gas Climate Initiative, www.oilandgasclimateinitiative.com

More Low-Carbon Energy News GHGs,  Climate Change,  Carbon Emissions,  Petrobras,  Oil and Gas Climate Initiative ,  


Oil and Gas Climate Initiative Report Launched (Ind. Report)
Oil and Gas Climate Initiative
Date: 2017-10-30
In London, the Oil and Gas Climate Initiative (OGCI), a voluntary, CEO-led initiative comprised of ten oil and gas companies that pool expert knowledge and collaborate on action to reduce greenhouse gas emissions, has announced the release of its third Oil and Gas Climate Initiative Report and its first three investments to advance its commitments to spur the growth of low carbon technologies.

The billion-dollar OGCI Climate Investments fund was established in 2016 to invest in technologies and business models with the potential to significantly reduce greenhouse gas emissions.

OGCI is partnering with United Nations Environment and the Environmental Defense Fund to provide financial and technical backing for the world's first global methane study to fill gaps in the identification and quantification of global methane emissions. OGCI is also working with Imperial College London on research provide a more accurate picture of total greenhouse gas emissions across the natural gas value chain and to identify emission "hot spots."

Download the full OGCI A Catalyst for Change report HERE. (Source: Oil & Gas Climate Initiative, 27 Oct., 2017) Contact: OGCI, Pratima Rangarajan, CEO, www.oilandgasclimateinitiative.com

More Low-Carbon Energy News Oil and Gas Climate Initiative ,  


Shell Launches Methane Detection Pilot (Ind. Report)
Shell Oil
Date: 2017-08-11
In Houston, oil giant Shell reports it has launched a methane detector pilot at one of its shale gas sites near Rocky Mountain House in Alberta, Canada.

The Methane Detectors Challenge pilot test is part of a multi-stakeholder partnership that includes the Environmental Defense Fund (EDF), oil and gas companies, US government agencies and technology developers. The initiative aims to enable better early detection and repair of methane leaks, and ultimately reduce emissions.

In addition to the Methane Detectors Challenge, Shell is involved in other partnerships, including the Oil and Gas Climate Initiative (OGCI) to understand the gaps in methane data and detection technology. (Source: Shell Oil, Aug., 2017)Contact: Shell US, (713 )241-6161, www.shell.us

More Low-Carbon Energy News Methane,  Shell Oil,  

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