ExxonMobil targets net zero greenhouse gas emissions by 2050

The net zero aspiration applies to Scope 1 and Scope 2 greenhouse gas emissions and builds on ExxonMobil’s 2030 emission-reduction plans, which include net-zero emissions for Permian Basin operations and ongoing investments in lower-emission solutions, including carbon capture and storage, hydrogen and biofuels.

To help reach net zero for operated assets by 2050, the company has identified more than 150 potential steps and modifications that can be applied to assets in its upstream, downstream and chemical operations.

Initial actions already underway prioritise energy efficiency measures, methane mitigation, equipment upgrades and the elimination of venting and routine flaring. Further high-impact reduction opportunities include power and steam co-generation and electrification of operations, using renewable or lower-emission power. The company expects to finalise detailed roadmaps that address approximately 90% of operations-related greenhouse gas emissions by the end of this year, and the remainder will be completed in 2023.

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Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/18012022/exxonmobil-targets-net-zero-greenhouse-gas-emissions-by-2050/