UPDATED 1 Sept: The EI library in London is temporarily closed to the public, as a precautionary measure in light of the ongoing COVID-19 situation. The Knowledge Service will still be answering email queries via email , or via live chats during working hours (09:15-17:00 GMT). Our e-library is always open for members here: eLibrary , for full-text access to over 200 e-books and millions of articles. Thank you for your patience.
New Energy World™
New Energy World™ embraces the whole energy industry as it connects and converges to address the decarbonisation challenge. It covers progress being made across the industry, from the dynamics under way to reduce emissions in oil and gas, through improvements to the efficiency of energy conversion and use, to cutting-edge initiatives in renewable and low-carbon technologies.
OGCI members have cut carbon intensity by 24% since 2017
22/10/2025
News
The Oil and Gas Climate Initiative’s (OGCI) latest annual progress report shows its 12 members, including Shell, have cut aggregate upstream methane intensity by 62%, flaring by 72% and carbon intensity by 24% since 2017, investing $125bn in low-carbon solutions. Meanwhile, Shell is forging ahead with a gas project offshore Nigeria as the company looks to expand its global LNG volumes by an average of 4–5% per year to 2030.
According to the OGCI report, carbon intensity at member companies’ upstream operations reached 0.12% in 2024, ‘well below’ the initiative’s 0.2% ambition for 2025. Meanwhile, upstream operated carbon intensity is ‘close to meeting the 2025 target’ of 17 kg CO2e/boe, ending 2024 at 17.2 kg CO2e/boe. The report also highlights that ‘clear progress’ is being made to end routine flaring by 2030. OGCI’s 12 member companies are Aramco, BP, Chevron, CNPC, Eni, Equinor, ExxonMobil, Occidental, Petrobras, Repsol, Shell and TotalEnergies.
According to OGCI, its member companies invested $30bn in low-carbon technologies and solutions – including carbon capture, use and storage (CCUS), renewable energy, carbon-efficient energy management, biofuels and sustainable mobility – in 2024. This takes the cumulative total spent since 2017 to $125bn.
The companies are currently involved in developing more than 50 CCUS projects (which average 7.5–10mn tonnes each) internationally. These projects have the potential to reduce and/or remove as much as 500mn t/y of CO2 by 2030, says OGCI. Some are already operational (Northern Lights in Norway, Ravenna CCS in Italy) and others are expected to be soon (STRATOS and LaBarge in the US).
In addition, OGCI says it is ‘forging global partnerships to accelerate industry-wide decarbonisation’. As an example, it is supporting 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 Satellite Monitoring Campaign and other related initiatives. The satellite campaign has doubled in size over the past 18 months.
It a bid to extend impact beyond its membership, OGCI helped launch the Oil & Gas Decarbonization Charter (OGDC) at COP28 in 2023. The Charter has 56 signatories, representing a diverse mix of state-owned and independent companies with assets across 100+ countries producing around 45% of global oil. Its aims include achieving net zero Scope 1 and 2 emissions from company-controlled operations and joint operating partners by or before 2050, near zero upstream methane emissions by 2030 and zero routine flaring by 2030.
OGCI acts as the OGDC Secretariat. Earlier this year, OGDC adopted OGCI’s Reporting Framework as the basis for reporting its emissions and other related KPIs, ‘strengthening accountability and transparency across a broader segment of the industry’. OGDC’s second annual report will launch at COP30 in Brazil next month.
Bjorn Otto Sverdrup, Chair of OGCI’s Executive Committee and Head of the OGDC Secretariat comments: ‘OGCI’s latest annual report shows what’s possible when ambition is matched by action’.
However, he warns: ‘To reach net zero operations in the Paris Agreement timeframe, these efforts must extend across the industry. OGDC is building on OGCI’s model, 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.’
Shell invests in Nigeria offshore gas development
In other oil and gas news, Shell Nigeria Exploration and Production Company (SNEPCo), a subsidiary of OGCI member Shell, together with Sunlink Energies and Resources, has taken a final investment decision (FID) on the HI gas project offshore Nigeria. SNEPCo holds a 40% interest in the development, the remainder held by Sunlink.
The HI field was discovered in 1985 and lies in 100 metres of water depth around 50 km offshore southern Nigeria. Current estimated recoverable resource volumes are put at 285mn boe. The project will consist of a wellhead platform with four wells. Multiphase gas will be transported via pipeline to the onshore gas processing plant at Bonny, from where the processed gas will be transported to Nigeria LNG (NLNG) and the condensate to the Bonny oil and gas export terminal. Due onstream before the end of this decade, H1 will supply 350mn cf/d (~60,000 boe/d) of gas at peak production to NLNG, in which Shell holds a 25.6% stake.
Shell took a FID on the Bonga North project, which has estimated recoverable resources of more than 300mn boe, in December 2024. In May this year, the company bought TotalEnergie’s 12.5% stake in the OML 118 production sharing contract (PSC), an oil mining lease that includes the Bonga field, increasing Shell’s share in the PSC to 67.5%.
Shell has committed to growing top line production across the company’s combined upstream and integrated gas business by 1% per year to 2030. It also plans to expand its global LNG volumes by an average of 4–5% per year to 2030.
