The new Trafigura carbon trading team, to be headed by Hannah Hauman, will be based in Geneva, Houston and Singapore.
The draft document shows utilization of associated petroleum gas, a byproduct of crude extraction, rose to 82.6% in 2020 from 81.5% in the previous year.
Instead of a carbon tax, Vicki Hollub, CEO of U.S. shale producer Occidental Petroleum, says she prefers the use of tax credits incentivizing the development of carbon capture projects.
Chevron has set emissions targets for this decade and laid out plans to keep project spending low but increase oil and gas output.
While a carbon tax may drive certain desired behaviors during the energy transition, there is no one solution to the world’s emissions woes, oil industry executives say.
Canadian Natural Resources and Cenovus Energy, two of Canada’s biggest oil producers, plan to set new goals to reduce greenhouse gas emissions but will not pivot entirely away from their core businesses.
“A carbon tax would be bad for a lot of the industry, a carbon tax would be bad for the consumers and especially for those consumers who are more disadvantaged from an economic standpoint,” says Occidental Petroleum CEO Vicki Hollub.
Driven by natural gas customer demand and broader ESG trends, Project Canary is working with nearly 100 partners across the energy sector, including investors, oil and gas producers, pipeline operators, utilities and LNG providers.
Project Canary CEO Chris Romer recently spoke with Hart Energy to discuss responsibly sourced natural gas, ESG and how RSG fits into the drive by many across the oil and gas industry to meet aggressive climate goals and sustain a social license to operate.
As federal and state regulations continue to address energy industry emissions amid growing ESG pressure from investors, here are three ways oil and gas companies can minimize the release of fugitive emissions.