ExxonMobil, Chevron, OXY to join Oil and Gas Climate Initiative
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U.S. oil firms ExxonMobil, Chevron, Occidental Petroleum are set to join the Oil and Gas Climate Initiative (OGCI), an initiative representing 13 of the world’s largest oil and gas producers working on solutions to mitigate the risks of climate change.
Illustration; (from left – right): Claudio Descalzi, CEO, Eni; Josu Jon Imaz, CEO Repsol; Amin Nasser, CEO Saudi Aramco; Bob Dudley, CEO BP; Ben van Beurden, CEO Shell; Eldar Sætre, CEO Statoil; Patrick Pouyanné, Chairman & CEO, Total at a previous OGCI CEO event (Image source: OGCI)
OGCI was established following the 2014 World Economic Forum and formally launched at the United Nations Climate Summit the same year. Members include BP, CNPC, Eni, Equinor, Pemex, Petrobras, Repsol, Royal Dutch Shell, Saudi Aramco, and Total.
The three new companies will become official members of OGCI as of September 24, 2018. Each will commit $100 million dollars to the OGCI Climate Investments fund.
OGCI is a CEO-led, voluntary, oil and gas industry initiative that aims to catalyze practical action on climate change through best practice sharing and collaboration.
The OGCI said that the three new members represented 5% of global oil and gas production.
“With these additions, OGCI members now represent around 30% of global oil and gas production and supply close to 20% of global primary energy consumption. The 13 member companies represent regions including China, the Middle East, Latin America, Europe and now the United States, widening OGCI’s global reach and making its members’ collaborative effort in support of the Paris Agreement, a significant global action,” the OGCI said.
