In a new report published on Wednesday 3 May, the International Energy Agency (IEA) said that oil and gas operations account for around 15% of energy-related greenhouse gas emissions today and that the industry has the ability and resources to reduce them quickly and cost-effectively. The report is intended to feed into the discussions leading up to COP28 in Dubai in November.
In 2022, oil and gas production, transport and processing emitted the equivalent of 5.1 billion tonnes of CO2.