Exxon Mobil to achieve net zero GHG emissions in Permian operations by 2030

Stock Markets26 minutes ago (Dec 06, 2021 10:31AM ET)

(C) Reuters. FILE PHOTO: Signage is seen at an Exxon gas station in Brooklyn, New York City, U.S., November 23, 2021. REUTERS/Andrew Kelly

(Reuters) – Oil major Exxon Mobil Corp (NYSE:XOM) said on Monday it aims to achieve net zero greenhouse gas (GHG) emissions from operated assets in the U.S. Permian basin by 2030, expanding its emission-reduction plans for unconventional operations in New Mexico and Texas.

The target is part of the company-wide effort to reduce the intensity of upstream GHG emissions by 40% to 50% by 2030, compared with 2016 levels.

Exxon also said it plans to eliminate routine flaring in Permian basin operations by the end of 2022.

By year-end 2021, Exxon expects reduced flaring volumes across its Permian operations by more than 75% compared to 2019.

Exxon Mobil to achieve net zero GHG emissions in Permian operations by 2030

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