Petrobras aligns emissions goals with OGCI
Brazilian energy company Petrobras said September 20 it made commitments to cut greenhouse gas emissions in line with the global Oil and Gas Climate Initiative.
The company said it aimed to reach net-zero emissions of direct and indirect emissions in coordination with the global gas group. OGCI said “all” of its member companies aim to reach net-zero emissions by 2050, a time frame set in the Paris climate accord.
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Petrobras said that it managed to improve the efficiency of its upstream oil and gas activity as part of its overall efforts to reduce its environmental footprint over the last decade.
In a separate statement, OGCI said members committed to bringing upstream methane emissions to below 0.20% by 2025 and bring routine flaring of natural gas to an end by 2030.
“As a leadership group, representing around 30% of the world’s oil and gas production, OGCI will work proactively with and encourage the entire industry towards net zero operations and near zero methane emissions,” it said.