ExxonMobil targets 15% reduction of methane emissions by 2020

ExxonMobil has unveiled plans to achieve a 15% reduction in methane emissions from its operations by 2020 in an effort to improve energy efficiency.

The greenhouse gas reduction measures also include a 25% reduction in flaring.

The announcement comes after the company pledged to decrease methane gas emissions from its shale oil and gas operations in the US by deploying new technologies.

The latest commitment made by ExxonMobil also covers plans to improve energy-efficiency in refining and chemical manufacturing facilities.

ExxonMobil chairman and CEO Darren Woods said: “We have a longstanding commitment to improve efficiency and mitigate greenhouse gas emissions.

“Today’s announcement builds on that commitment and will help further drive improvements in our business.”

In the past year, the company’s subsidiary XTO Energy’s leak-detection-and-repair efforts and operational improvements at the US production and midstream sites have resulted in methane emission cuts of 2%.

Since 2000, ExxonMobil has invested more than $9bn on lower-emission energy solutions, including cogeneration, flare reduction, energy efficiency, biofuels, carbon capture and storage and other technologies.

The target reductions in methane emissions and flaring are compared with the levels in 2016.

To achieve reductions in flaring, the company’s efforts will be focused on oil and gas production and processing.

The company expects to achieve most significant reductions in operations in West Africa.

Oil and gas majors Shell and BP also announced their emission targets.

Shell aims to cut its carbon footprint in half by 2050, while BP has set sustainable emissions reductions target of 3.5 million tonnes out to 2025.