XOM Exxon Mobil Corp

By Kimberly Chin

Exxon Mobil Corp. said it will completely slash emissions in its Permian Basin operations by 2030, as the company aims to green its operations.

By the end of this year, Exxon expects to reduce flaring volumes across its Permian Basin operations by more than 75% compared with 2019 levels. The energy company said it will eliminate all routine flaring in its operations by the end of 2022.

Exxon also intends to electrify its New Mexico and Texas operations with low-carbon power sources, such as wind, solar, hydrogen and natural gas that can be carbon captured and stored, as well with other emerging technologies, it said.

The Texas oil giant plans to expand its methane detection programs with satellite surveillance, a network of ground-based sensors and aerial flyovers that can help it identify leaks, it said.

It said it is working on validating its emissions-reduction efforts with independent validator MiQ through a pilot program that will initially focus on its Poker Lake facilities in New Mexico.

Exxon has ambitions to cut back its upstream greenhouse-gas emissions intensity by 40% to 50% by 2030 from 2016 levels across the whole company, it said.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

December 06, 2021 10:51 ET (15:51 GMT)

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