Chevron Sets New Greenhouse Gas Reduction Goals
04 October 2019 - 3:33AM
Dow Jones News
By Michael Dabaie
Chevron Corp. (CVX) said it established new goals to reduce net
greenhouse gas emission intensity from upstream oil and natural
gas.
Emission intensity is the emission rate of greenhouse gas per
unit of energy produced. Chevron said it is aiming to lower
upstream oil net greenhouse gas emission intensity by 5% to 10% and
upstream natural gas net greenhouse gas emission intensity by 2% to
5% from 2016 to 2023.
The metrics apply to all upstream oil and natural gas, the
company said, whether it has operational control or not.
Chevron said it is a member of the Oil and Gas Climate
Initiative and has invested more than $1 billion in carbon capture
and storage projects in Australia and Canada, which are expected to
reduce greenhouse gas emissions by about 5 million metric tons per
year.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
October 03, 2019 13:18 ET (17:18 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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