The target is part of the company-wide effort by Exxon Mobil to reduce the intensity of upstream GHG emissions by 40% to 50% by 2030, compared with 2016 levels. (Source: Business Wire)
Oil major Exxon Mobil Corp. said on Dec. 6 it aims to achieve net-zero greenhouse-gas (GHG) emissions from operated assets in the U.S. Permian Basin by 2030, expanding its emission-reduction plans for unconventional operations in New Mexico and Texas.
The target is part of the company-wide effort to reduce the intensity of upstream GHG emissions by 40% to 50% by 2030, compared with 2016 levels.
Exxon Mobil also said it plans to eliminate routine flaring in Permian Basin operations by the end of 2022.
By year-end 2021, Exxon Mobil expects reduced flaring volumes across its Permian operations by more than 75% compared to 2019.
Recommended Reading
IOG Resources Boosts Appalachia Footprint with Acquisition
2023-03-31 - The Dallas-based investment firm is picking up non-operated oil and gas assets in Ohio and Pennsylvania.
Vitol’s VTX Energy Partners Completes Southern Delaware Basin Deal
2023-03-23 - VTX Energy, backed by Swiss oil trader Vitol, purchased 35,000 net leasehold acres with an average production of 40,000 boe/d in the Delaware Basin’s Pecos and Reeves counties, Texas, in a deal Enverus said could be valued at $1.5 billion to $2 billion.
Argentina Plans Ramp Up of Production, Export Oil to Chile
2023-03-23 - Argentina looks to restart oil exports to Chile along the Trasandino Argentina SA (OTASA) oil pipeline over the next three to four months, Aleph Energy Managing Director Daniel Dreizzen told Hart Energy on the sidelines of CERAWeek by S&P Global.
Baytex Energy Stock Takes Hit as Investors Weigh $2.5B Ranger Oil Deal
2023-03-03 - Baytex Energy’s acquisition of Ranger Oil Corp. is financially accretive and adds much-needed inventory, but analysts and investors have questions about the $2.5 billion deal.
Scale Does Matter: Earthstone's Robert Anderson on Shale M&A Growth
2023-03-01 - The OGInterview: Earthstone Energy CEO Robert Anderson spoke to Hart Energy on scaling up when others hunker down.