• 5 minutes Global Economy-Bad Days Are coming
  • 8 minutes IT IS FINISHED. OPEC Victorious
  • 14 minutes Venezuela continues to sink in misery
  • 18 minutes U.S. Senate Advances Resolution To End Military Support For Saudis In Yemen
  • 3 hours Paris Is Burning Over Climate Change Taxes -- Is America Next?
  • 13 hours OPEC Cuts Deep to Save Cartel
  • 4 hours $867 billion farm bill passed
  • 1 hour Rage Without Proof: Maduro Accuses U.S. Official Of Plotting Venezuela Invasion
  • 51 mins Has Global Peak Diesel Arrived?
  • 4 hours IEA Sees Global Oil Supply Tightening More Quickly In 2019
  • 9 hours Sleeping Hydrocarbon Giant
  • 6 hours How High Can Oil Prices Rise? (Part 2 of my previous thread)
  • 5 hours USGS Announces Largest Continuous Oil Assessment in Texas and New Mexico
  • 14 hours And the War on LNG is Now On
  • 11 hours What will the future hold for nations dependent on high oil prices.
  • 12 hours Air-to-Fuels Energy and Cost Calculation
  • 9 hours Could Tesla Buy GM?
What Would A New OPEC Look Like?

What Would A New OPEC Look Like?

The global oil markets could…

Zainab Calcuttawala

Zainab Calcuttawala

Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…

More Info

API Announces Voluntary Methane Reduction Program

Oil

American oil and gas operations could reduce their methane emissions in the coming years if they abide by a voluntary program announced by the American Petroleum Institute on Tuesday.

The announcement comes as President Donald Trump’s administration prepares to weaken methane rules established by his predecessor. The White House announced plans to appeal a decision by a U.S. district court to strike down a previous attempt to remove the rule.

The API’s new Environmental Partnership already has 26 major oil and gas companies onboard. Shell, Pioneer Natural Resources and Cabot Oil and Gas are just some of the big names, Erik Milito, the industrial group’s director of upstream and industry operations, told S&P Global Platts.

"It's really a good foundation for us to have at the start," Milito said in a Monday interview.

The agreement will go into effect on January 1st and will bind participants to monitor methane leakage with the most advanced methods, update high-emitting pneumatic controllers and limit emissions from manual liquids unloading.

"We've done it in a very surgical way so that we've picked programs that are actually going to help us see tangible improvements and really provide us a platform to really show continued emissions reductions," Milito said, adding that the companies onboard represent thousands of drilling sites across the nation, including 25 percent of all natural gas production – which is particularly important for the save-the-ozone agenda:

"Natural gas plays a major role in meeting global energy demand today," the voluntary agreement states. "Since natural gas consists mainly of methane, a potent greenhouse gas, its part in the transition to the low-carbon future will be influenced by the extent to which the oil and gas industry reduces its methane emissions."

Related: Vienna Is The Ultimate OPEC Smokescreen

Other than the Environmental Partnership, the API has largely supported Trump’s deregulation agenda in the oil and gas sector, but Milito is hopeful that oil majors will adhere to the partnership’s terms.

"In the end, we're going to see who is reporting and we're going to see the extent to which companies are reporting," he said. "We think they're all going to do that, we're fully confident they are."

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News