Capterio contributes to the Frontier debate “Decarbonising Oil & Gas – are we meeting expectations?”

Brilliantly hosted by Daniel Davidson and Gayle Meikie from the Frontier Energy Network, our CEO, Dr Mark Davis, had the opportunity to debate whether the industry is meeting expectations on decarbonising oil and gas. A super topical question, as always, thank you, Frontier!

Mark opened up the debate with 3 reflections.

• Firstly, whilst it is very clear that net zero needs to the destination, the global context seems to have shifted a bit. The “trilemma” has rebalanced to “energy security” and “energy affordability” and a little less on climate
  
• Secondly, there are lots of positives – great commitments from many (including the 55+ endorsers of the Oil and Gas Decarbonisation Charter), greater reach of carbon markets (now 75 instruments covering 24% of emissions), rise of renewables (especially wind and solar), improved transparency and good steps in CCUS and H2. But
  
• Thirdly some challenges. Emissions are up (so too is temperature). Flaring is up – and not dramatically down as it needs to be. Methane is up (not close to the 30% reduction we need under the Global Methane Pledge). Few (if any) oil and gas companies have Paris aligned pathways, many are stepping back from renewables, and banks are pulling out of the Net Zero Banking Alliance.

But … there is such a huge opportunity here. Looking at flaring, venting and leaking, we could reduce emissions by up to 7 billion CO2-e tonnes, and create up to $50 billion in value. We need to grip this and deliver. And in a world of increasing focus on low carbon intensity barrels/ cubic fee, there is a competitive race to be won by the best.

At Capterio we are committed to make it happen and we are delighted to have helped our clients reduce their emissions by the equivalent of 3.1 million cars. And we’ve only got started.

Really appreciated the contributions from the other panelists too – Willem Bloem from Bloem Consulting and Diptaroop Chakraborty (Halliburton). Thank you!

Do join us!

Mark Davis / www.capterio.com