(Houston) — Oil and gas companies must deliver on climate action while also ensuring low-cost and secure energy supply, the chief executive officer of Exxon Mobil Corporation said this morning in an opening plenary session at the World Petroleum Congress (WPC).
Darren Woods said any discussion about how to effectively address the risk of climate change must be balanced by the need to meet society’s essential energy needs and how they will continue to be met.
Woods highlighted several climate change initiatives underway at Exxon, including the work happening at Imperial Oil Limited.
“Our Canadian affiliate Imperial Oil is progressing plans to produce renewable diesel at its refineries in Edmonton using locally grown plant-based feedstock and hydrogen with carbon capture and storage,” he said. “By 2024, the facility is expected to produce more than seven million barrels of renewable diesel a year. This could reduce Canadian transportation emissions by about three million metric tonnes per year.”
Woods also noted the importance of government collaboration, and referred to the Oil Sands Pathways to Net Zero initiative announced in June.
The goal of the Pathways alliance, working collectively with the federal and Alberta governments, is to achieve net zero greenhouse gas (GHG) emissions from oilsands operations by 2050 to help Canada meet its climate goals.
“This initiative highlights the critical role that government plays in advancing a lower emissions future,” he said. “Government policies can act as an accelerator to create and deploy at scale.”
The WPC will shift to Calgary in 2023 with a conference theme of Energy Transition – the Path to Net Zero. For more information about WPC Calgary 2023, please visit: https://24wpc.com/