Europe's Top Oil Firms Jointly Call for Carbon Pricing

Reuters

LONDON, June 1 (Reuters) - Europe's top oil and gas companies urged governments around the world to introduce a pricing system for carbon emissions, as governments meet in Bonn, Germany, on Monday to work on a U.N. deal to fight climate change.

Criticised for not doing enough to tackle climate change, the chief executives of BG Group, BP, Eni , Royal Dutch Shell, Statoil and France's Total said carbon pricing "would reduce uncertainty and encourage the most cost-effective ways of reducing carbon emissions widely."

In a joint statement, the companies acknowledged "the current trend" in greenhouse gas emissions is too high to meet the United Nation's target for limiting global warming by no more than 2 degrees.

"Our industry faces a challenge: we need to meet greater energy demand with less CO2. We are ready to meet that challenge and we are prepared to play our part," the leaders of the six companies said.

"We firmly believe that carbon pricing will discourage high carbon options and reduce uncertainty that will help stimulate investments in the right low-carbon technologies and the right resources at the right pace."

Notable Absentees

U.S. oil majors ExxonMobil and Chevron chose not to take part in the initiative, an industry source said.

Exxon said it was aware of the letter. Like Chevron, Exxon said it works with the International Petroleum Industry Environmental Conservation Association (IPIECA), a trade group, to develop a common position for climate change mitigation.

"It's clear that there is a difference of views on each side of the Atlantic," Patrick Pouyanne, Total's Chief Executive, told reporters during a news briefing.


123

View Full Article

Copyright 2017 Thomson Reuters. Click for Restrictions.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Paul | Jun. 1, 2015
I think the UN and the top cronies are trying to create a world wide oligarchy Why on earth would oil companies call for more costs to produce the oil ? Are the oil companies in bed with the UN Agenda 21 socialists too?


Related Companies
 Company: BP plcmore info


 - Big Oil Back On The Acquisition Trail As Outlook Brightens (Jan 19)
 - Canada Rules Out Arctic Oil Drilling Extensions for ExxonMobil, BP (Jan 6)
 - Samsung Wins Mad Dog 2 Fabrication Contract (Jan 5)
 Company: Shellmore info


 - Norway Awards 56 Oil And Gas Licences In Mature Areas (Jan 17)
 - Southern North Sea Special Interest Group Launched (Nov 21)
 - Report: Growing Confidence in North Sea Oil, Gas Industry (Nov 14)
 Company: Statoilmore info


 - Big Oil Back On The Acquisition Trail As Outlook Brightens (Jan 19)
 - Oil, Gas Firms Make Global 100 Most Sustainable Corporations List (Jan 19)
 - Norway Awards 56 Oil And Gas Licences In Mature Areas (Jan 17)
 Company: Total S.A.more info
 - Big Oil Back On The Acquisition Trail As Outlook Brightens (Jan 19)
 - Oil, Gas Firms Make Global 100 Most Sustainable Corporations List (Jan 19)
 - Norway Awards 56 Oil And Gas Licences In Mature Areas (Jan 17)
 Company: BG Groupmore info
 - Despite Cuts, Big Oil to Expand Production into the 2020s (Sep 5)
 - Sound Energy Appoints Ex-BG Exploration Lead (Aug 24)
 - Shell Misses Expectations As Earnings Plunge On Oil, BG Costs (Jul 28)
 Company: ENImore info


 - Oil, Gas Firms Make Global 100 Most Sustainable Corporations List (Jan 19)
 - Norway Awards 56 Oil And Gas Licences In Mature Areas (Jan 17)
 - Eni: Oil, Gas Discovery in Norwegian Sea (Jan 17)
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
Attorney I
Expertise: Contracts Administration|Legal
Location: Houston, 
 
United States Alvarado: Explosive Products Tester
Expertise: Environmental, Safety & Training
Location: Alvarado, TX
 
United States Elmendorf: HSE Engineer
Expertise: HSE Manager / Advisor
Location: Elmendorf, TX
 
search for more jobs

Brent Crude Oil : $53.92/BBL 2.79%
Light Crude Oil : $51.08/BBL 2.66%
Natural Gas : $3.3/MMBtu 3.22%
Updated in last 24 hours