PetroChina, a subsidiary of China National Petroleum Corporation (CNPC), has signed on to Oil & Gas Decarbonization Charter (OGDC), joining over 50 oil and gas producers who have pledged to reduce emissions.
Now the ODGC members, including PetroChina, contribute to more than 42 percent of the world’s oil production. OGDC, introduced at COP28 in Dubai, aims to accelerate the reduction of carbon dioxide emissions in oil and gas industry, in line with Paris Agreement.
OGDC also forms a part of Global De carbonization Accelerator (GDA), a set of significant initiative to accelerate the energy transition and significantly reduce global emissions.
Dr. Sultan bin Ahmed Al Jaber UAE Minister – Industry & Advanced Technology, COP28 President
“We launched the Oil & Gas Decarbonization Charter at COP20 in recognition of the need for inclusivity and transparency. We must bring everyone in to be accountable and responsible for climate action, and that includes including oil & gas companies in the conservation and making them active drivers of practical solutions to keep 1.5C within reach.”
Huang Yongzhang, President of PetroChina, commented that, “PetroChina stays committed to green development and accelerates the transition towards a green and low carbon future with a three-step approach of ‘clean substitution, strategic replacement, and green development’. While providing oil and gas, we are promoting the transformation of PetroChina into an integrated energy company covering oil, gas, thermal energy, electricity, and hydrogen.”
Bjorn Otto Sverdrup, Head of OGDC Secretariat also expressed his enthusiasm in welcoming PetroChina and emphasized the significance of such step towards advancing low-carbon solutions.
All the Signatories to the Charter are committed to pursuing specific objectives, such as setting emissions goals and investing in the future energy system. They are also dedicated to measuring emissions, publicly reporting on how they have met OGDC targets, and strive for greater transparency and collaboration.
OGDC have been signed by various parties, including international oil companies, national oil companies (NOCs) and independent producers. The OGDC is a platform that brings together Signatories, organizations and industry partners to share their knowledge and expertise.
Since its inception, the OGDC Secretariat has developed a structured training program that emphasizes effective priorities. In 2024, reducing methane emissions, flaring, carbon reduction strategies to reduce emissions, reporting of greenhouse gas emission are the main areas of focus.
