The Oil and Gas Climate Initiative’s (OGCI) annual report published Tuesday highlights member companies’ continued progress reducing emissions, advancing low-carbon solutions, and forging global partnerships to accelerate industry-wide decarbonisation.
According to independently reviewed data published in the report, OGCI’s 12 member companies have reduced aggregate upstream operated me-thane intensity by 62%, cut routine flaring by 72% and lowered upstream carbon intensity by 24% since 2017.
Over the same period, OGCI’s 12 member companies continued to invest in a range of low-carbon technologies and solutions, that include carbon capture utilisation and storage (CCUS), renewable energy, carbon-efficient energy management, biofuels, and sustainable mobility.
In 2024 alone, OGCI members invested US$30 billion in low-carbon technologies and solutions, including projects, acquisitions and research and development, taking the cumulative total since 2017 to US$125 billion.
OGCI members’ supplemented emissions reductions at their own operations with work to scale up CCUS projects in hubs to enable hard-to-abate sectors such as steel and cement to decarbonise, and efforts to support the deployment of low-carbon transport fuels for trucking, aviation and shipping.
OGCI members are currently involved in developing more than 50 CCUS projects, with the potential to reduce and/or remove as much as 500 mil-lion tpy of CO2, by 2030. Some that are already operational or expected to be soon include Northern Lights in Norway, Ravenna CCS in Italy, and STRATOS and LaBarge in the US.
OGCI has also supported local oil and gas operators and partners in countries such as Algeria, Iraq, Kazakhstan and Egypt to detect, monitor and abate methane emissions through its flagship Satellite Monitoring Campaign and other related initiatives.
Over the past 18 months, OGCI expanded the satellite campaign to include more countries and operators – doubling the number of assets and countries involved and building further momentum among local operators to drive emissions reductions.
In 2024 and 2025, OGCI worked to extend its impact beyond OGCI’s membership through the Oil & Gas Decarbonization Charter (OGDC), which it helped launch at COP28 in 2023.
OGDC, with 56 signatories representing a diverse mix of state-owned and independent companies with assets across 100+ countries producing around 45% of global oil, amplifies the reach and impact of OGCI’s work, helping to accelerate the pace of decarbonisation across the industry.
OGCI acts as OGDC Secretariat, providing the Charter and its signatories with technical expertise, knowledge and insights. Over the past 18 months, OGCI and its members have shared knowledge and best practices accumulated over a decade of work reducing emissions at their own oil and gas operations. Topics have included methane emissions reductions and energy efficiency. OGCI’s ability to build bridges across continents and with state-owned and private companies, has helped grow a global community of oil and gas companies committed to reducing emissions.
This year, OGDC has adopted OGCI’s Reporting Framework as the basis for reporting its emissions and other related KPIs, strengthening account-ability and transparency across a broader segment of the industry. OGDC’s second annual report will launch at COP30 in Brazil this November.
Bjørn Otto Sverdrup, Chair of OGCI’s Executive Committee and Head of the OGDC Secretariat said: “OGCI’s latest annual report shows what’s possible when ambition is matched by action. Our members have again this year reduced methane emissions and flaring – contributing to a 25% reduction in operated Scope 1 and 2 upstream emissions across the group since 2017. We’re proud of this progress, but we’re not stopping there.
“To reach net zero operations in the Paris Agreement timeframe, these efforts must extend across the industry. OGDC is building on OGCI’s mod-el, turning collaboration into global action.
“As we head into COP30, our focus remains clear: cut emissions, advance and scale solutions, and deliver secure and affordable energy. Together, we are staying the course.”
See the report here.