NEWS COMMENTARY

Chevron revises emission reduction targets to incorporate total greenhouse emissions from production

Published:
October 08, 2019
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Owning the Energy Transition More...
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by Holly Havel
Average importance

Earlier this year, Chevron announced its commitment to reducing methane emissions and flares from its supply chain by 25% to 30% from 2016 levels by 2023. In response to increasing pressure from investors, however, the U.S. oil major has revised its initial targets to reduce net greenhouse gas emission intensity from upstream production by 2% to 5% from 2016 to 2023, signaling the industry's emphasis on reducing both carbon and methane emissions throughout the production supply chain. The move is also in line with long-term carbon capture initiatives recently launched by the OGCI, though clients can expect an initial focus on existing technologies, such as COEOR and gas sensing, to meet near-term reduction goals.

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