Oil and Gas CEOs Reaffirm Climate Action Focus

Oil and Gas CEOs Reaffirm Climate Action Focus
The CEOs stressed they continue to "focus on what matters".

Chief executive officers of leading global oil and gas companies on Tuesday issued an open letter reiterating their commitment to addressing climate change and facilitating actions that lower the energy industry’s carbon intensity.

Under the auspices of a group called the Oil and Gas Climate Initiative (OGCI), the CEOs stressed that they maintain a “focus on what matters” amid efforts to revive the pandemic-ravaged economy.

“We have heard concerns that this crisis may push oil and gas companies – and governments around the world – to delay climate action,” the CEOs’ open letter states. “The reality is that rather than shifting our priorities, the Covid-19 crisis is further crystallizing our focus on what is essential: health, safety and protection of the environment while providing the energy and vital produces that society needs to support economic recovery.”

In the letter, the CEOs go on to say that OGCI and its member companies remain focused on:

  • Accelerating efforts to cut emissions within their respective companies
  • Through a $1 billion-plus climate investments funds, continuing to back efforts to develop, implement and scale-up low-carbon innovations in oil and gas, commercial transportation and other areas
  • Promoting opportunities to scale up carbon capture, use and storage advances that are commercially viable, environmentally responsible and safe
  • Maintaining support for ongoing government efforts to formulate policies that accelerate the energy transition and stimulate economic growth.

Oil and gas executives signing the letter include: Bernard Looney of BP Plc, Mike Wirth of Chevron Corp., Dai Houliang of China National Petroleum Corp. (CNPC), Claudio Descalzi of Eni S.p.A., Eldar Saetre of Equinor ASA, Darren Woods of Exxon Mobil Corp., Vicki Hollub of Occidental Petroleum Corp. Roberto Castello Branco of Petroleo Brasiliero SA, Josu Jon Imaz of Repsol S.A., Ben van Beurden of Royal Dutch Shell plc, Amin Nasser of Saudi Aramco and Patrick Pouyanné of Total S.A.

The full letter is available on the OGCI website.

To contact the author, email mveazey@rigzone.com.


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Mark Steiner  |  May 27, 2020
If these high-rolling internationalists get their way, you can kiss oil & gas goodbye.