Oil and gas companies offer support to fight global warming

Ten chief executive officers (CEOs) of major oil and gas companies worldwide have declared their collective support for an effective climate change agreement.

Together the companies are responsible for almost a fifth of all oil and gas production and supply nearly 10% of the world’s energy.

The CEO-led, voluntary, oil and gas industry initiative aims to catalyse practical action on climate change by the way of best practice sharing, as well as partnership.

The CEOs of BG Group, BP, Eni, Pemex, Reliance Industries, Repsol, Saudi Aramco, Shell, Statoil and Total have confirmed that they recognise the general ambition to limit global average temperature rise to 2°C.

Over the past ten years the member companies of the OGCI have taken various key actions to cut down their global greenhouse gas (GHG) footprint.

The CEOs said: "Our shared ambition is for a 2°C future. It is a challenge for the whole of society. We are committed to playing our part.

"Over the coming years we will collectively strengthen our actions and investments to contribute to reducing the GHG intensity of the global energy mix."

In its new collaborative report, ‘More energy, lower emissions’, the OGCI highlighted practical actions taken by member companies to improve GHG emissions management.

The actions include major investments in natural gas, carbon capture and storage, and renewable energy, as well as low-GHG research and development.

Together the declaration and report set out key areas where the OGCI companies will focus their collaboration, including efficiency, natural gas, long-term solutions, energy access, partnerships and multi-stakeholder initiatives.

Established following discussions held during the January 2014 World Economic Forum Annual Meeting, the OGCI was officially launched at the September 2014 UN Climate Summit.

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Image: CEOs pictured: Helge Lund, BG Group; Bob Dudley, BP; Claudio Descalzi, Eni; Emilio Lozoya, Pemex; Josu Jon Imaz, Repsol; Amin Nasser, Saudi Aramco; Eldar Sætre, Statoil; and Patrick Pouyanné, Total. Photo: © OGCI