To deliver on broader climate pledges, industry must engage national oil companies in its efforts. Joint venture partnerships are a crucial channel for technical and financial support from IOCs.
Methane emissions are a critical challenge for the world’s oil and gas industry, and also a crucial opportunity. Methane, the primary ingredient of natural gas, is a potent greenhouse gas with over 80 times the warming power of carbon dioxide over the first 20 years after its release into the atmosphere, through leaks, vents and flares.
At COP28, 30 national oil companies (NOCs) signed onto the Oil and Gas Decarbonization Charter (OGDC), committing to limit their methane intensity to 0.2% in their upstream operations by 2030. To achieve this goal, many of the NOCs will need technical and financial support from their international oil…
Read the full article originally published at business.edf.org.