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U.S. oil companies join voluntary program to plug methane leaks

Published 12/05/2017, 02:44 PM
© Reuters.  U.S. oil companies join voluntary program to plug methane leaks
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  • The American Petroleum Institute announces a voluntary program to cut methane emissions from oil and gas operations, as oil companies seek to boost their image and the clean energy profile of gas to make it more attractive for buyers seeking lower carbon sources of electricity.
  • The initiative includes Exxon Mobil (NYSE:XOM) subsidiary XTO Energy, Royal Dutch Shell (LON:RDSa) (RDS.A, RDS.B), Occidental Petroleum (NYSE:OXY), Pioneer Natural Resources (NYSE:PXD) and 22 other oil and gas companies commit to reduce methane emissions by phasing out certain leak-prone devices, among other actions.
  • The program does not set numerical goals to reduce the emissions, and environmentalists are criticizing the effort, with a policy director at Earthworks saying “Self-policing and voluntary measures continue the status quo: undocumented pollution, problems left unaddressed, and no industry accountability.”
  • ETFs: XLE, VDE, ERX, XOP, OIH, GASL, FCG, ERY, DIG, BGR, XES, FENY, DUG, IYE, GUSH, IEO, DRIP, FIF, IEZ, GASX, PXE, NDP, RYE, PXJ, FXN, CRAK, DDG, NANR, JHME, ERYY, FTXN, ERGF
  • Now read: Occidental Petroleum: Momentum Is Rising And 4.4% Dividend Yield Still Attractive


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