Majors making progress on methane emissions

ExxonMobil is the latest to announce progress on tackling upstream emissions of the potent greenhouse gas, and many are strengthening their commitments

ExxonMobil has met the methane emission reduction targets it set in 2016, part of an increasing pivot among the oil and gas majors towards reducing the emissions of their upstream operations. Reaffirmed in 2018, it announced plans to reduce methane emissions by 15pc and flaring by 25pc by 2020 compared with 2016 levels. The US major has established new plans for 2025 that are projected to be consistent with the goals of the Paris Agreement, according to Stephen Littleton, vice president of investor relations. “These plans are expected to reduce absolute upstream greenhouse gas [GHG] emissions by 30pc,” he says. The firm also announced a 40-50pc decrease in methane intensity by 2025 against 2