Chevron has established new goals to reduce net greenhouse gas (GHG) emission intensity from upstream oil and natural gas. Emission intensity is the emission rate of greenhouse gas per unit of energy produced. The company intends to lower upstream oil net GHG emission intensity by 5–10% and upstream natural gas net GHG emission intensity by 2–5% from 2016 to 2023. The timing is aligned with milestones set in the Paris Agreement on climate change.
The GHG emission intensity reduction metrics apply to all upstream Chevron oil and natural gas, whether Chevron has operational control or not.
“Global demand for energy continues to grow, and we are committed to delivering more energy with less environmental impact,” said Michael Wirth, Chevron’s chairman and chief executive officer.
The new reduction goals build on other actions Chevron is taking to address climate change by lowering the company’s carbon intensity, increasing its use of renewable energy and investing in breakthrough technologies. Earlier this year, the company established reduction goals for methane emission intensity and flaring intensity.
Chevron is a member of the Oil and Gas Climate Initiative and is helping fund a greater-than-$1-billion effort to develop new technologies and businesses to reduce GHG emissions. Chevron also established a Future Energy venture capital fund to invest in technology to reduce GHG emissions and enable a greater diversity of energy sources. The company has also invested more than $1 billion in carbon capture and storage projects in Australia and Canada, which are expected to reduce GHG emissions by approximately 5 million metric tons per year. Chevron is using renewable electricity to power some of its operations in California and Texas.
“Reducing greenhouse gas emissions is a global issue that requires global engagement and action,” Wirth said. “We are taking action while continuing to deliver the affordable, reliable, ever-cleaner energy that enables human progress.”
Don't miss our latest HSE content, delivered to your inbox twice monthly. Sign up for the HSE Now newsletter. If you are not logged in, you will receive a confirmation email that you will need to click on to confirm you want to receive the newsletter.
18 Nov 2019
- Banff, Alberta, Canada
Refine your technical writing skills at this one-day training course
10 Nov 2019
- Abu Dhabi, United Arab Emirates
This course will help you develop a better understanding of factors that could impact your daily economic decisions as well as establish a new set of applicable tools to use in your professional career.
3 Dec 2019
- Cairo, Egypt
Enhance your understanding of process safety techniques by reserving a place at this 1-day training course
9 - 11 Nov 2019
- Abu Dhabi, UAE
The programme combines expert input, case studies, and immersive scenarios from the E&P and other industries to embed your learning and enable you to progress to the next level of your career.
Safety Leadership focuses on the ‘Human Factors’ (HF) which complement technical training to optimize reliability, safety, compliance, efficiency and risks within a team-based environment.
Through this workshop, attendees will go through the different processes involved in strategic planning including the elements of organizational SWOT, business scenario and options development, elaboration of strategic options and communication to stakeholders.
22 Apr 2020
- Bergen, Norway
Share your expertise at this event
HSE Now is a source for news and technical information affecting the health, safety, security, environment, and social responsibility discipline of the upstream oil and gas industry.
©2003-2019 Society of Petroleum Engineers, All Rights Reserved.