The Oil and Gas Climate Initiative (OGCI) and Brazil’s Petrobras announced that the Brazilian company will join the initiative. This commitment is subject to the approval of the OGCI Climate Investments Members’ Agreement by the Petrobras Board of Directors.
Launched in 2014, OGCI is currently made up of ten oil and gas companies: BP, CNPC, Eni, Pemex, Repsol, Saudi Aramco, Shell, Statoil, Total and Petrobras. It aims to increase the ambition, speed and scale of the initiatives we undertake as individual companies to reduce the greenhouse gas footprint of our core oil and gas business.
Bob Dudley, chair of the OGCI’s CEO Steering Committee and group chief executive of BP, welcomed Petrobras to the initiative, saying that its add will improve OGCI’s work and its coverage into an important new geography: South America.
Petrobras CEO, Pedro Parente, stated: “By joining OGCI, one of the industry’s leading initiatives on climate change response, Petrobras renews its commitment to reducing emissions and to a more efficient energy matrix and reinforces its strategic command to be fully prepared for a low carbon world. We are excited to join other OGCI member companies in their efforts to deliver the organisation’s ambitious goals.”
Taken together, oil and gas production by OGCI member companies represents more than a quarter of the world’s oil and gas production.