The oil and gas industry has some of the best and most cost-effective opportunitiesto reduce methane emissions. The potential to do so is clear. Some countries andcompanies have already demonstrated that achieving near-zero emissions from oiland gas operations is technically and economically possible. There are a growingnumber of initiatives, policies and regulations aiming to reduce emissions globally,and many reductions can be realised while saving money. However, overallprogress has been much too slow, despite the record profits that the oil and gasindustry saw in 2022. This report looks in detail at the investment requirements todeliver a sharp reduction in oil and gas methane emissions to 2030, and how thesecould be financed. The analysis is intended to infom discussions in the runup toCOP28 and help prompt the necessary actions to accelerate the pace of change.
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