Oil execs call for climate change agreement
The CEOs of 10 major oil companies signed a declaration calling for "an effective climate change agreement" to be reached at the upcoming COP21 climate talks in Paris.
"We recognize the general ambition to limit global average temperature rise to 2 degrees C, and that the existing trend of the world's net greenhouse gas (GHG) emissions is not consistent with this ambition," the statement said.
The companies, which include both state-run and private firms, collectively account for one-fifth of global oil and gas production and provide nearly 10% of the world's energy, the statement said.
The executives (pictured below) called for global coordination on "clear, stable policy frameworks that are consistent with a 2-degree C future," adding, "We will support the implementation of these frameworks because they will help our companies to take informed decisions and make effective and sustainable contributions to addressing climate change."
The CEOs pledged to collaborate in areas including energy efficiency, natural gas, research and development, and carbon capture and storage.
The 10 companies, which collectively form the Oil and Gas Climate Initiative (OGCI), also released a report – More energy, lower emissions – highlighting the firms' efforts and plans to reduce GHG emissions and improve energy efficiency in their own operations.
The firms will strive to expand the role of natural gas, the cleanest burning fossil fuel, in the global energy mix. OGCI will also work toward "eliminating 'routine' natural gas flaring" and reducing methane emissions at their upstream projects, the statement said.
The OGCI firms comprise BG, BP, Eni, Pemex, Reliance Industries, Repsol, Saudi Aramco, Shell, Statoil and Total.
The declaration follows a similar statement earlier this year in which executives from six major oil companies called for global collaboration on carbon pricing measures.
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
News in: Oil & Gas
Bolivia issues call to advance fuel pipeline reversal project
The duct will transport an initial 15,000b/d of diesel as part of plans to guarantee fuel supply.
Bolivia receives offers for drill rig, seismic work
Sinopec International Petroleum Service Ecuador submitted proposals for both contracts.
Subscribe to Latin America’s most trusted business intelligence platform.
Other projects in: Oil & Gas
Get critical information about thousands of Oil & Gas projects in Latin America: what stages they're in, capex, related companies, contacts and more.
- Project: Bm-s-68
- Current stage:
- Updated:
3 years ago
- Project: SÃO MIGUEL DOS CAMPOS
- Current stage:
- Updated:
5 months ago
- Project: BT-POT-10B
- Current stage:
- Updated:
5 months ago
- Project: It t 516_r11
- Current stage:
- Updated:
3 years ago
- Project: BM-S-3
- Current stage:
- Updated:
5 months ago
- Project: EAST ITAÚNAS RIVER
- Current stage:
- Updated:
5 months ago
- Project: Bm-s-54
- Current stage:
- Updated:
3 years ago
- Project: MOSSORO RIVER
- Current stage:
- Updated:
5 months ago
- Project: BT-SEAL-6
- Current stage:
- Updated:
5 months ago
- Project: High CF West P3
- Current stage:
- Updated:
3 years ago
Other companies in: Oil & Gas
Get critical information about thousands of Oil & Gas companies in Latin America: their projects, contacts, shareholders, related news and more.
- Company: Agencias Universales S.A.  (Agunsa)
-
The description included in this profile was taken directly from an official source and has not been modified or edited by the BNamericas’ researchers. However, it may have been...
- Company: Ecopetrol S.A.  (Ecopetrol)
-
Colombia's Ecopetrol is a mixed-ownership integrated oil and gas company that operates in the exploration and production, logistics and transportation, and refining, petrochemic...
- Company: Transportadora de Gas del Sur S.A.  (Transportadora de Gas del Sur (TGS))
-
Argentine energy company Transportadora de Gas del Sur (TGS) is engaged in the transportation, processing and storage of natural gas, and production and sale of liquid gas. In a...
- Company: YPF Brasil
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Sigdo Koppers S.A.  (Sigdo Koppers)
-
Sigdo Koppers is a Chilean business holding company with operations on five continents and activities in the service, industrial, and commercial and automotive sectors. The serv...
- Company: Enap Sipetrol Argentina S.A.  (Enap Sipetrol Argentina)
-
Enap Sipetrol Argentina is a subsidiary of Enap Sipetrol, a company focused on oil and gas exploration and production which operates as the international arm of Chile's state-ow...
- Company: Tecpetrol S.A.  (Tecpetrol)
-
Tecpetrol S.A. is the Argentine subsidiary of global energy corporation Tecpetrol. The company engages in exploration and exploitation of oil and gas deposits across the country...
- Company: Repsol Sinopec Brasil S.A.  (Repsol Sinopec Brasil)
-
Repsol Sinopec Brasil S.A., a subsidiary of Spanish-Chinese joint venture Repsol-Sinopec, is engaged in the exploration, development, and production of hydrocarbons in the pre-s...
- Company: Técnicas Reunidas Chile Ltda  (TR Chile)
-
Técnicas Reunidas Chile Ltda. (TR Chile), es la unidad local de la firma española de ingeniería y construcción Técnicas Reunidas S.A. Ofrece servicios de ingeniería y construcci...