VIDEO: How can minimizing flaring and methane emissions support a lower-carbon future?

How can minimizing flaring and methane emissions support a lower-carbon future?

As part of our ambition to achieve net zero Scope 1 and 2 greenhouse gas (GHG) emissions across wholly-owned operated assets by 2050, we identify and focus on five key pillars.

• Energy efficiency (up to 11 MMtCO₂e)
• Flaring and methane (up to 1 MMtCO₂e)
• Renewables (up to 14 MMtCO₂e)
• Carbon Capture and Storage (up to 11 MMtCO₂e)
• Carbon offsets (up to 16 MMtCO₂e)

(MMtCO₂e = million metric tons CO2 equivalent)

Flaring of waste gas has long been recognized as one of the most significant contributors to GHG emissions in the oil and gas sector.

We are a signatory to the World Bank's "Zero Routine Flaring by 2030" initiative, sharing best practices with industry partners to accelerate global flaring reduction.

During 2022, our flaring intensity fell by 17% due to significant investments, installations, and improved operations of our in-house flare gas recovery system across several facilities.

Addressing methane emissions is one of the fastest, most effective ways to slow the rate of global temperature rise. 

Our upstream methane intensity remains at .05%, already well below the OGCI target to achieve at least .20% by 2025.

Through our Leak Detection and Repair (LDAR) program, we survey hundreds of thousands of points to minimize potential methane leaks.

We aim to help meet the world's growing energy demand while working toward exploring pathways to support a lower-carbon future.