ExxonMobil Plans To Cut All Emissions in Permian Basin by 2030

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Global energy giant ExxonMobil vowed to completely cut its greenhouse gas emissions from oil and gas operations in the Permian Basin by 2030.

The company also pledged to end routine flaring by the end of 2022, electrify operations in New Mexico and Texas and increase monitoring for methane releases while upgrading equipment to avoid emissions.

Exxon’s plans in the Permian were part of company-wide commitment to reduce emissions intensity, referring to the amount of emissions per facility, by 40 to 50 percent by 2030, compared with 2016 levels.

At the end of 2021’s third quarter, Exxon reported it produced 530,000 barrels of oil per day in the Permian, accounting for 40 percent of the company’s U.S. production.

Company officials said that as fuel demand grows and production increases, so too would greenhouse gas mitigation.

Chief Executive Officer Darren Woods said the Nov. 6 announcement was part of a company-wide strategy to reduce the oil and gas leader’s impact on climate change.

“Our groundbreaking plans to reach net zero for Permian Basin operations further demonstrate our commitment and support of society’s ambitions for a lower-emissions future,” Woods said. “We have plans to reduce greenhouse gas emissions intensity across our businesses by deploying the capabilities and technical strengths that are foundational to ExxonMobil.”

ompany officials said that as fuel demand grows and production increases, so too would greenhouse gas mitigation.

Chief Executive Officer Darren Woods said the Nov. 6 announcement was part of a company-wide strategy to reduce the oil and gas leader’s impact on climate change.

“Our groundbreaking plans to reach net zero for Permian Basin operations further demonstrate our commitment and support of society’s ambitions for a lower-emissions future,” Woods said. “We have plans to reduce greenhouse gas emissions intensity across our businesses by deploying the capabilities and technical strengths that are foundational to ExxonMobil.”

 

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BY Adrian Hedden for Carlsbad Current Argus

 

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