NEWS COMMENTARY

Chevron commits to methane emission reduction goals while tying executive bonuses with targets

Published:
February 08, 2019
Coverage:
Owning the Energy Transition More...
Activities:
Policy
by Harshit Sharma
Average importance

In line with its peers BP, Total, Shell, and ExxonMobil, Chevron has annoucned it will reduce methane emissions and flares from its supply chain by 25% to 30% from 2016 levels by 2023. Furthermore, Chevron will link its executive pay with the methane targets, a move similar to Shell's decision in late 2018, albeit the focus for Shell was on carbon reduction. Similar to ExxonMobil, Chevron's goals are highly centered on methane and in strong contrast to its European peers, which are focused on CO2. With that said, Chevron is one of the foremost players to target emission reduction in all assets it has a stake in, even if it is not the primary operator, a move that will require significant collaboration with its partners for implementation. 

For the original news article, click here .


Further Reading

Shell returns to Chinese shale as it begins joint study with Sinopec

News Commentary | April 10, 2019

Shell will work alongside Sinopec as part of a joint study to develop Chinese shale oil. This marks a return for Shell into China's E&P, where it historically observed poor results for natural gas. Although China's gas assets clearly dwarf its oil reserves, the country is on track for a drop in ... Not part of subscription

Methane Detection

Technology | September 18, 2020

The process of detecting methane leaks originating from upstream, midstream, and downstream oil and gas infrastructure. Not part of subscription

Industry Event Recap: Decarbonization of Oil and Gas at the Go Net-Zero Carbon Energy Virtual Summit

Analyst Insight | June 25, 2020

Last month, Lux Research presented at the Go Net‑Zero Carbon Energy Virtual Summit hosted by Globuc. Given the impact from COVID‑19 and the oil price plunge in May, the summit was buzzing, as the oil and gas industry faces not only the challenges of decarbonization but also a sudden shock in ... Not part of subscription