Gulf Oil and Gas accountACCOUNT

Chevron Sets New Greenhouse Gas Reduction Goals

Source: www.gulfoilandgas.com 10/3/2019, Location: North America

Chevron Corporation (CVX) 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 percent and upstream natural gas net GHG emission intensity by 2 - 5 percent from 2016 to 2023. The timing is aligned with stocktake 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 CEO.

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 $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 about 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,” said Wirth. “We are taking action, while continuing to deliver the affordable, reliable, ever-cleaner energy that enables human progress.”

Emissions Measuring News in United States >>

Australia >>  5/21/2020 - The release of the Technology Investment Roadmap discussion paper recognises the crucial role that natural gas and carbon capture and storage (CCS) wi...
United Kingdom >>  5/19/2020 - Phillips 66, Uniper and VPI Immingham have entered into a memorandum-of-understanding to co-develop Humber Zero, a large scale decarbonisation project...

Sweden >>  5/18/2020 - Alfa Laval – a world leader in heat transfer, centrifugal separation and fluid handling – has joined the ‘1.5°C Business Playbook’, a spin-off from th...
Trinidad and Tobago >>  5/13/2020 - Columbus, the oil and gas producer and explorer focused on onshore Trinidad and Suriname, received Ministry on Energy and Energy Industry approval for...

United Kingdom >>  5/6/2020 - Move will support oil and gas industry to reduce greenhouse gas emissions, encourage progress on carbon capture and storage and hydrogen projects. ...
France >>  5/5/2020 - Total announces its ambition to get to net-zero emissions by 2050 together with society for its global business across its production and energy produ...

Related Categories: Ecological & Environmental  Emissions Measuring  Environment Management, Consultancy  Environmental Services  General  Hazardous Waste Management  Oil Spill & Emergency Response  Safety Services  Waste Disposal 

Related Articles: Ecological & Environmental  Emissions Measuring  Environment Management, Consultancy  Environmental Services  General  Oil Spill & Emergency Response  Safety Services  Waste Disposal 


United States Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.