A flurry of announcements at COP28 has left the O&G methane community dazed and scrambling to get clarity on the implications of new regulations, public datasets, commitments, and initiatives. We’ll be posting a variety of articles to help get our readers up to speed. To start, this week’s newsletter provides a quick and dirty overview of recent events. Thanks as always for reading the Highwood Bulletin!
Oil and Gas Decarbonization Charter Announced
Launched at COP28 by 50 O&G companies around the world, the Oil and Gas Decarbonization Charter (OGDC) commits to 0.2% methane intensity by 2030, net-zero Scope 1 & 2 emissions by 2050, and the elimination of routine flaring. Members include super-majors and NOCs and collectively account for 40% of global oil production. Read about it here. In parallel, leading technical experts (IOGP, MGP, OGCI, and EDF) have teamed up to develop a framework to help companies participate. Read more here.
US EPA Releases Final Methane Rules
On December 2nd, the United States Environmental Protection Agency (EPA) has published the final version of the long-awaited methane rule. The rule includes standards for new and modified sources as of December 6th, 2022 (40 C.F.R. part 60, subpart OOOOb) and a new subpart (OOOOc) for existing sources. Click here to dive head-first into the ~1700 page rule.
Canada’s ECCC Releases Draft Methane Rules
Following immediately on the heels of the final EPA rule, Canada’s Environment and Climate Change Canada (ECCC) published a draft rule to reduce O&G methane emissions by 75% below 2012 levels by 2030. Fortunately, the document is only 100 pages. Dive in here and submit your comments by February 14, 2024.
Exxon, INPEX, others join OGMP 2.0
A flurry of companies announced during COP that they would join the UN Oil and Gas Methane Partnership (OGMP) 2.0, including INPEX (Japan), Bapco (Bahrain), and KazMunayGas (Kazakhstan). Most notably, ExxonMobil joined, pivoting from its former stance, and joining other US majors like ConocoPhillips and Occidental.
Canada announce emissions cap for O&G
The Government of Canada has announced a national emissions cap-and-trade system targeting the oil and gas sector. It intends to publish draft regulations in mid-2024, finalize them in 2025, and require annual reporting as early as 2026. The system will likely be phased in from 2026 to 2030. Read more here.
Data: Carbon Mapper new data portal
Data: Kayrros Methane Watch
Data: IMEO MARS
Well, we’re really on a roll now. Even more public methane data has been made available through a new platform called the Methane Alert and Response System (MARS), hosted by the International Methane Emissions Observatory (IMEO). Check it out here.
Data: NASA launches GHG data center
I promise this is the last one. NASA has launched a US GHG Center, which includes a comprehensive data catalogue that spans methane, carbon dioxide, and a variety of models and inventories. Learn more about it here and browse all data here.
Report: IMEO publishes third annual report
The International Methane Emissions Observatory (IMEO) has published their third annual report, “An Eye on Methane: The road to radical transparency”. The report covers public data, new research, industry partnerships, OGMP 2.0, MARS, and MRV frameworks. Read it here.
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