Mexico Oil & Gas’ Post

Examining Corporate Accountability in the Oil and Gas Industry   I've started looking into BP, a well-known oil and gas company, as part of my research for my course on ethics and sustainability in business environments. Recently, BP made the decision to renege on its 2020 goal of decarbonizing its portfolio. Examining the effects of BP's renewed emphasis on oil and gas on the private sector's voluntary shift to sustainable energy sources is the goal of my research. Early on in my investigation, I was struck by the clever moves made by a number of significant oil and gas companies. Even while they promote themselves as leaders in the "green transition," a closer examination of their corporate strategy reveals a different reality. Many businesses actively intend to increase oil and gas extraction after 2050, which raises severe concerns about their dedication to environmental sustainability. This makes us wonder if the world can reach the net-zero goals established by the 2015 Paris Agreement if the biggest polluters don't make significant investments in the transition to a green economy. Could a lack of corporate accountability with regard to political targets be the cause of this problem? In the coming weeks, I plan to investigate these crucial questions in the hopes that my findings will provide insightful information to the conversation about advancing the corporate green transition within the oil and gas business. #OilAndGasIndustry #ResearchPaper #CorporateAccountability #ParisAgreement

🌍 Today at the New Producers for Sustainable Energy's annual meeting, NRGI's Nicola Woodroffe is leading a session on managing petroleum divestment. Drawing from the NRGI briefing "Responsible Change", authored by her, Nicola shares her expertise on how governments can navigate asset transfers while ensuring sustainable development. Key points from the briefing: 💰 Since 2014, around USD 88 billion in assets have moved from publicly listed to private companies. 🛢️ Globally, the role of national oil companies (NOCs) is growing. NOCs have acquired around $24 billion in assets from non-NOCs since 2014. 🔍 Many assets that sub-Saharan African and Latin American NOCs have acquired appear vulnerable to energy transition risks. 📖 Learn more in "Responsible Change":

Some of the world's largest national oil companies (NOCs) have improved significantly their resilience to oil price slumps in the near future thanks to huge cash flows and profits in the past two years. But many of those companies face challenges in sustainability and ESG metrics due to governance issues, disclosures, and the lack of Scope 3 emission targets. That's according to energy consultancy Wood Mackenzie, which has recently added eight NOCs into its Corporate Resilience and Sustainability Indices and stacked them against the international oil majors in terms of resilience and sustainability.

One explanation as to the difference between Europe and the USA concerning the anti-ESG sentiment could be that oil and gas production is a smaller player in Europe than in the USA. It’s that industry and various US states semi-reliant on the revenues from those industries that largely finance the anti-ESG sentiment.

Big news here: we have now launched our O&G Sustainability Analytics! This solution is a one-stop shop to get insights into how industry transforms. Also this is a topic that I’m truly passionate about and together with my team at Rystad Energy spent last three years expanding our research and building up the content to deliver insights that will help you to break down complexity on corporate transition strategies, emissions, decarbonization, transition risk and more. Follow the link below and check it out! #sustainability #corporatestategy #decarbonization #emissions

Sustainability is no longer an option; it is a necessary initiative that organizations must embed in their framework today to continue contributing toward a more sustainable and resilient energy future. The third edition of Drilling down, KPMG's annual oil and gas magazine, takes a deeper lens into some of the critical challenges in the oil and gas industry and the approach industry leaders are adopting to take then on effectively. For more details, visit: https://lnkd.in/dTaCqMD5 Judeh, Aref Majid Makki, MBA/PMP Salman BinKhalid Khaled Elkazaz MBA , CPA Moiz Multhanwala Muhammad Hanan Tariq #oilandgas #carbonemissions #energytransition #sustainability

Why is ESG vital for Oil and Gas Industry? Environmental,Social and Governance(ESG)is becoming an increasingly important factor to consider when selecting investments and partners in the oil and gas industry. Historically, ESG issues have been placed in various positions along the priority scale. However, ESG public policy has become more of a focus in recent years and has become a high priority of most oil and gas operators. Companies that ignore ESG will find themselves at a competitive disadvantage and subject to regulatory penalties. A lack of an ESG strategy will ultimately affect a company’s access to public and private capital. In addition, poor ESG policies and low priority ESG focus can impact a company's profitability indirectly by reducing revenue from the sale of products and services to customers who have strong ethical concerns about ESG issues. On the other hand, companies that support ESG initiatives can demonstrate leadership by investing in new technologies that can reduce environmental impact or improve efficiency. This can lead to cost savings as well as goodwill with the public. ESG technologies can create direct financial return and cost savings (i.e. eliminating the loss of natural gas to the atmosphere can lead to increased gas sales, along with the potential to monetize and value methane mitigation results though MPC's - Methane Performance Certificates). Moreover, companies that prioritize ESG are more likely to attract public and private capital from investors who care about environmental and social responsibility. ESG initiatives can also help investors avoid companies that might pose a greater financial risk due to their poor environmental or other practices. In conclusion, ESG can help companies become more sustainable and efficient in the long term. It is important for companies to prioritize ESG and make it part of their business strategy to succeed in the industry.

There are now just 4 weeks to go until we come together for 𝗠𝗲𝘁𝗵𝗮𝗻𝗲 𝗠𝗶𝘁𝗶𝗴𝗮𝘁𝗶𝗼𝗻 𝗘𝘂𝗿𝗼𝗽𝗲 in Amsterdam, 12th-14th February 2024! Hear from the likes of bp, Equinor, United Nations Environment Programme Finance Initiative (UNEP FI), Shell, GRTgaz and leave the event feeling confident to successfully integrate improved methane management practices within your organisation. Find out more: https://lnkd.in/dwAm9Z2U 𝗦𝗽𝗲𝗮𝗸𝗲𝗿𝘀 𝗶𝗻𝗰𝗹𝘂𝗱𝗲... #methanemitigation #methanereduction #emissionsreduction #oilandgasemissions

Discover how an Oil and Gas company successfully navigated the evolving regulatory landscape with S&P Global Market Intelligence. Read the case study now: https://ow.ly/fwvz50QsIyk #Sustainability