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Exxon, Chevron head new methane emissions consortium

Published 06/25/2018, 10:58 PM
© Reuters.  Exxon, Environmental Defense Fund head new methane emissions consortium
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  • Exxon Mobil (NYSE:XOM), Chevron and other major oil and gas companies have formed a new methane emissions consortium focused on reducing greenhouse gas pollution.
  • The announcement comes less than a week after a new research report sponsored by the Environmental Defense Fund found that U.S. oil and gas operations are releasing far more methane into the atmosphere than the federal government has estimated.
  • The new Collaboratory for Advancing Methane Science will be managed by the Illinois-based Gas Technology Institute with the founding participants including XOM, Chevron (NYSE:CVX), Cheniere Energy (NYSEMKT:LNG), Pioneer Natural Resources (NYSE:PXD) and Equinor (NYSE:EQNR).
  • XOM says its XTO Energy subsidiary has reduced methane emissions from its operations by 9% since 2016, part of XOM's broader effort to cut methane emissions by 15% worldwide by 2020.
  • Now read: Buying Exxon Mobil In Anticipation Of New All-Time Highs

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