Energy Efficiency, GHG Emissions, Industrial - May 23, 2018
ExxonMobil reveals GHG reduction measures
ExxonMobil announced on May 23 a series of greenhouse gas (GHG) reduction measures that are expected to lead to significant improvements in emissions performance by 2020, including a 15% decrease in methane emissions and a 25% reduction in flaring. The company also announced its intention to improve its industry-leading energy efficiency in refining and chemical manufacturing facilities.
"We have a longstanding commitment to improve efficiency and mitigate greenhouse gas emissions," said Darren W. Woods, chairman and chief executive officer, in a statement. "Today’s announcement builds on that commitment and will help further drive improvements in our business."
The statement noted that ExxonMobil has spent more than $9 billion on lower-emission energy solutions since 2000, including investments in lower-emission energy solutions such as cogeneration, flare reduction, energy efficiency, biofuels, carbon capture and storage and other technologies.
Further greenhouse-gas emissions reduction efforts will target ExxonMobil’s global refining and chemicals manufacturing network with the goal of improving existing industry-leading energy efficiency performance.
The company is also undertaking several initiatives to significantly reduce methane emissions. XTO Energy’s leak-detection-and-repair efforts and operational improvements at U.S. production and midstream sites have reduced estimated methane emissions across ExxonMobil operations by 2% in the past year. Combined with additional measures outside the U.S. focused on the most significant sources of methane, ExxonMobil expects to achieve a 15% reduction of methane emissions by 2020 from a 2016 baseline.
The company reported that it has achieved a 10% improvement in energy efficiency across its global refining operations following an effort launched in 2000.
- Exxon, Chevron join industry climate initiative
- ExxonMobil invests up to $100 million on lower-emissions R&D
- ExxonMobil, Bank of America to fund Stanford energy research
- ExxonMobil renews biofuel research partnership
- SEC, ruling against ExxonMobil, says oil giant must allow shareholder vote on climate change
Check out some of the key moments at SED's Innovation Summit!