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OGDC publishes its Baseline Report

Tip Sheets

The Oil & Gas Decarbonization Charter (OGDC) recently published its Baseline Report to serve as a basis for tracking emission reduction in the gas and oil industry.

The OGDC initiative was launched last year at COP28. Since then, 54 gas and oil companies have signed up to the charter, with these accounting for almost half of the world’s oil production.

The signatories are committed to reporting their progress in achieving the OGDC’s goals, which include virtually eliminating methane emissions from upstream operations and ending all routine flaring by 2030. Additionally, they’re aiming to make operations net-zero carbon emitters by the middle of the century.

The signatories include Saudi Arabia’s Aramco, the UAE’s ADNOC, and France’s TotalEnergies, the maker of the Total coolant and lubricant range. In a joint statement, the bosses of these firms expressed their pride in:

“…the 54 companies that have already signed up to the Charter and are encouraged by the extent of their engagement in this first major piece of work that helps to establish a base on which to build future success. Each company is at a different phase of the decarbonisation journey.”

The report includes the results of a survey of the participating companies. It found that most of these already have goals that are consistent with the OGDC. Nevertheless, any gaps indicated in the report will be used as a basis for prioritising knowledge transfer and support from companies with experience in those areas. The report also indicated that most of the companies already report their greenhouse gas emissions.

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