OGCI (Oil and Gas Climate Initiative)

OGCI (Oil and Gas Climate Initiative)’s annual Progress Report is out now!      As we mark 10 years of progress, OGCI and our member companies are reflecting on a decade of collaboration, commitment and impact in addressing the climate challenge.    OGCI Executive Committee Chair Bjørn Otto Sverdrup commented:     “OGCI’s members are making good progress, individually and collectively. Since 2017, they have together reduced upstream methane emissions by 55%, decreased carbon intensity by 21% and invested almost $100 billion in the energy systems of the future – demonstrating what’s achievable for the oil and gas industry.”    In the report, you’ll find our 2023/24 progress and what’s next as we demonstrate the contribution our industry can make to the energy transition.     📊 Download the full report now: https://lnkd.in/ejzbGyhA

OGCI was proud to launch its CCUS Value Tool this year.     The tool helps evaluate the socio-economic impact of CCUS projects, such as job creation and economic growth, in the UK.    Applied to several case studies, the CCUS Value Tool is already quantifying how the transition to net-zero can drive positive change in both the economy and the environment.    #OGCI #CCUS #Innovation 

The Financial Times Energy Transition Summit remains an important event for OGCI (Oil and Gas Climate Initiative), with important insights into the future of energy. This year, discussions emphasized the need for faster progress on CCUS.    As Julien Perez told delegates, while CCUS is progressing, it’s not moving fast enough. The project pipeline grew by 60% in 2024, but we need to scale even faster to meet global climate goals.    The path forward is clear: faster action is essential.    #OGCI #FTEnergy #CCUS #EnergyTransition #NetZero 

We launched a major update to our CO2 Storage Resource Catalogue this year.     In collaboration with Global CCS Institute, IOGP, and Halliburton, we expanded our evaluation to 1,272 CO2 storage sites across 52 countries.    This update can help accelerate CCUS development, offering both a solution to decarbonize industries and a way to maintain and create jobs.    We’re turning ambition into action for a low-carbon future. Find out more. ⬇️    #OGCI #CCUS #CO2Storage #EnergyTransition 

This year we launched our Performance Data Hub, designed to make OGCI (Oil and Gas Climate Initiative)’s emissions and low-carbon investment data more accessible.    This new hub:  ✅ Empowers deeper insights by enabling full dataset downloads  ✅ Saves time with individual charts and tables for quick, targeted information    By simplifying access to critical data, we’re supporting our commitment to transparency and reporting.     🔗 Explore the data for yourself: https://lnkd.in/ejWgAa-9 

2024 marked a decade of impact for OGCI (Oil and Gas Climate Initiative).     In the 10 years since our launch, our members have gained significant momentum in cutting emissions, supporting the wider industry in their transition, and investing in the future of energy.    As OGCI Chair Bjørn Otto Sverdrup noted:, “With 2023 the hottest year on record, it’s clear we must do more. Tackling the climate challenge will require all of us to move further and faster and working together is the way to achieve this.”    Our ambition continues to inspire action. Let’s continue pushing forward.    #OGCI10 

In 2024, we collaborated with a consortium including Global Centre for Maritime Decarbonisation (GCMD) and Stena Bulk on Project REMARCCABLE, focused on how onboard carbon capture and storage could help reduce the shipping sector’s emissions.    The project involved a technical feasibility study of a prototype design for an onboard carbon capture and storage (OCCS) system for a medium-range tanker.     Our research showed that OCCS technology could reduce CO2 emissions by as much as 20%.    You can download the full report on our website.     #OGCI #Shipping #CCS #Decarbonization #Transport

Reducing methane emissions from oil and gas operations is a top priority, and OGCI member companies have demonstrated that industry collaboration can accelerate progress toward climate goals.    That’s why we helped establish The Oil & Gas Decarbonization Charter (OGDC), bringing together over 50 signatories, including national oil companies, to align more of the industry with the ambitious net zero goals embraced by OGCI members.   🎧 Tune in as Chairman of our Executive Committee, Bjørn Otto Sverdrup, joined Henrique Bezerra of Global Methane Hub on Wood Mackenzie Energy Gang podcast hosted by Ed Crooks during #COP29.

One of our standout moments this year was #CERAWeek2024, where our CEOs gathered to discuss key issues like methane emissions, CCUS, and low-carbon technologies. Their collective insights demonstrated the power of collaboration and our shared commitment to accelerating climate action.    Together, we’re achieving more than we ever could alone.    Bob Dudley, bp Murray Auchincloss Chevron Mike Wirth Eni Claudio Descalzi Equinor Anders Opedal ExxonMobil Darren Woods Oxy Vicki Hollub Petrobras TotalEnergies Patrick Pouyanné 

As 2024 draws to a close, OGCI (Oil and Gas Climate Initiative) reflects on a year of progress, innovation and collaboration. From hosting our CEO Roundtable at #CERAWeek2024 to celebrating 10 years of collective action, we’ve made great strides this year.   Over the next few weeks, we’ll share some of this year’s achievements. For now, here’s an overview. ⬇️    In 2025, we’ll continue to build on this momentum, tackling the climate challenge together.    #OGCI #ClimateAction