Exxon Mobil says it has a plan for cutting greenhouse gas emissions from its operations in one of the most prolific oilfields in the United States, saying it hopes to achieve its net-zero goal for operations in the Permian Basin by 2030.
The company made the announcement Monday, saying the effort will target both its own operations as well as indirect emissions associated with the electricity it buys to power well sites and other infrastructure in the basin, which spans parts of southeastern New Mexico and West Texas.
Although limited, Exxon’s announcement is significant because it’s the first tangible commitment the company has made to reducing greenhouse gas emissions, compared to major European oil and gas companies which set more tangible targets, said Artem Abramov, head of shale research at Rystad Energy.