Energy industry is banking on new technology and investment to reduce emissions, Bob Dudley says
The oil and gas industry, which is facing pressure from investors and governments to reduce emissions, is banking on new technology and investments to reach targets, the chairman of the Oil and Gas Climate Initiative said.
The OGCI, an industry body representing some of the world’s top energy companies including BP, Chevron, ExxonMobil, Saudi Aramco, Shell and Total, are using a $1 billion fund to invest in technologies and business models that have the potential to significantly reduce greenhouse gas emissions.
One of the investments made is to detect and monitor natural gas leakage through infra-red monitors, the deployment of drones, aircraft and satellites.
“You can immediately shut off any leakages and this is going to change the game,” Bob Dudley, OGCI chair and former BP…