ExxonMobil plans to achieve net zero greenhouse gas (GHG) emissions from operated assets in the U.S. Permian Basin by 2030, announced the company.
This is considered a step towards accelerating and expanding its emission-reduction plans for unconventional operations in New Mexico and Texas.
Moreover, the plans come in line with the corporate-wide effort aiming to decrease Upstream GHG emissions intensity by 40-50% by 2030, in comparison to 2016.
“Our groundbreaking plans to reach net zero for Permian Basin operations further demonstrate our commitment and support of society’s ambitions for a lower-emissions future,” said Darren Woods, chairman and chief executive officer.
He added : “We have plans to reduce greenhouse gas emissions intensity across our businesses by deploying the capabilities and technical strengths that are foundational to ExxonMobil.”
According to the statement, the company’s GHG reduction plan will be supported by electrifying operations, continuing investments in methane mitigation and detection technology, eliminating routine flaring, upgrading equipment, and employing emissions offset technology, which may include nature-based solutions.
The statement adds that the company is on track to exceed its 2025 greenhouse gas emission-reduction plans announced in December 2020.