OGCI is a climate initiative led by the CEOs of 12 major oil and gas companies working together to accelerate the industry’s action to achieve net zero emissions in the timeframe of the Paris Agreement.
OGCI’s members are Aramco, bp, Chevron, CNPC, Eni, Equinor, ExxonMobil, Oxy, Petrobras, Repsol, Shell and TotalEnergies.
This year marks a decade since OGCI’s launch at the 2014 UN Climate Summit. Over the past 10 years, our member companies have worked worked together, collaborating across the oil and gas sector and beyond to accelerate action to achieve net zero.
OGCI is working to achieve net zero emissions from oil and gas operations under our control by 2050 and helping partners achieve the same at non-operated assets.
Our members are also working with other companies throughout the oil and gas industry, collaborating and sharing knowledge and technologies to accelerate action to reduce methane emissions to near zero on the path to net zero operations.
Getting the entire oil and gas sector to net zero operations would remove around 10% (5 Gt CO2e/year) of global annual emissions.
OGCI also works with other sectors and industries, such as shipping, steel, chemicals, and cement, seeking and deploying solutions to help them to reduce their emissions.
Our activities to lower emissions include:
Since 2017, OGCI’s 12 member companies have collectively halved their upstream methane emissions, cut routine flaring by 45% and reduced carbon intensity by 21%.
Our members have also invested $65 billion in the low-carbon technologies and solutions needed for the energy transition, including renewables, biofuels, biogas, hydrogen and carbon capture.
OGCI’s member companies are involved in developing over 40 carbon capture, storage and utilization hub projects that will enable hard-to-abate industries such as cement, steel and chemicals to decarbonize, preserving jobs and creating new opportunities.
These CCUS hubs could eliminate around 300 million tonnes of CO2 a year by 2030 – equivalent to removing the emissions from around 70 million passenger vehicles.
OGCI publishes an annual report tracking the progress of its member companies on key performance indicators including Scope 1 operated greenhouse gas emissions, methane emissions, flaring, and investment in low-carbon technologies
OGCI is continually improving data collection methodologies and processes as well as adding new aggregate indicators as they become relevant. EY, an independent third party, collects and reviews OGCI data.
OGCI is collaborating with many different organizations including think tanks, academia, NGOs and international organizations to amplify efforts to reduce methane emissions, decarbonize transport with low-carbon fuels and accelerate the development of CCUS and natural climate solutions.
This includes our partnerships with the World Bank, Payne Institute and Environmental Defense Fund on methane emissions reduction and our work through our flagship Satellite Monitoring Campaign and the Aiming for Zero methane emissions initiative that we launched.
We’re also working with partners and other stakeholders to develop and scale up CCUS hubs to decarbonize hard-to-abate industrial sectors like steel, cement and chemicals, and to support the development and wider adoption of low-carbon fuels for transport.
The Oil and Gas Climate Initiative is a CEO-led organization bringing together 12 of the largest oil and gas companies worldwide to lead the industry’s response to climate change.
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