ExxonMobil invests in lower-emission energy solutions such as cogeneration, flare reduction, energy efficiency, biofuels, carbon capture and storage and other technologies and has spent more than $9 billion on lower-emission energy solutions since 2000.
- The company has achieved a 10% improvement in energy efficiency across its global refining operations since 2000. Its chemical business has reduced net GHG emissions intensity by nearly 7% since 2013.
- Combined with additional measures outside the US focused on the most significant sources of methane, ExxonMobil expects to achieve a 15% reduction of methane emissions by 2020 compared with 2016.
- Efforts associated with oil and gas production and processing are expected to lower natural gas flaring across its operations by about 25% by 2020 compared with 2016. The most significant reductions are expected to occur in operations in West Africa and include use of third-party infrastructure.
ExxonMobil is one of global energy companies that supports guiding principles on methane reduction. The principles focus on continually reducing methane emissions, advancing strong performance across gas value chains, improving accuracy of methane emissions data and advocating sound policies and regulations on methane emissions.
Current signatories to the Guiding Principles are also BP, Eni, Gazprom, Repsol, Shell, Statoil, Total and Wintershall.
Today’s announcement builds on steps we’ve implemented over the past year to reduce methane emissions, including leak-detection-and-repair efforts and operational improvements throughout the US These have already accounted for a 2% reduction in emissions in just a short time, so we know we’re on the right track.
Further greenhouse-gas emissions reduction efforts will target ExxonMobil’s global refining and chemicals manufacturing network with the goal of improving existing industry-leading energy efficiency performance, the company added.