FOR IMMEDIATE RELEASE
MINNEAPOLIS, Minn., January 9, 2024 – Geofinancial Analytics (GEO) has released a new MethaneScan® Annual Report showing Shell PLC as #1 out of the 50 largest North American oil and gas producers in methane management.
The new Annual Report, “Self Reported vs. Satellite-Observed Methane Emissions by Top 50 North American Gas Producers,” is the energy industry’s first satellite-based, company-level methane emissions report. It uses proprietary state-of-the-art satellite technology to observe methane emissions from active onshore wells of the 50 largest North American oil and gas producers and compares them with company-reported emissions.
“We are constantly incorporating new data and peer-reviewed practices while we drive the development of state-of-the-art estimation, attribution, and uncertainty quantification methods, setting the highest industry standard for accurate, precise, and transparent reporting via direct satellite observation,” said Mark Kriss, GEO’s Managing Director.
The table below presents a sample of the MethaneScan® Scorecard for the top 50 North American producers which reveals significant variance in sustainability leadership on the key metrics of methane management, with Shell in the #1 spot on the leaderboard. “We congratulate Shell on winning the 2023 MethaneScan® Gold Award for Best Methane Management in North America. This is a significant and encouraging achievement,” said Kriss.
All 50 company names and ratings are provided in the MethaneScan® Annual Report which is available for purchase and download at geofinancial.com for $8,500.
Honorable mentions
Note: These three companies earning an honorable mention are not necessarily included in the partial list of anonymized companies in the table above.
Other widespread implications of the data
“Managing down the current high levels of methane emissions is widely viewed as the simplest and best strategy to dampen the projected near-term rise in global temperature and greenhouse gas levels in the atmosphere,” said Kriss. “But it begins with real transparency as to the extent of the problem. Sustainability leaders such as Shell should be recognized for their achievements and thus incentivize others to follow their lead.”
Among the most significant sources of methane emissions are those resulting from the production of petroleum and natural gas. Importantly, mitigating methane emissions from the oil and gas industry is currently financially feasible, requiring no new technologies, and it is immediately scalable around the globe.
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About Geofinancial Analytics
Geofinancial Analytics (GEO) is an independent science-driven data provider whose civic mission is to accelerate the clean energy transition by informing decisions and business practices with transparent, objective analysis using advanced geospatial technology and AI. Learn more at geofinancial.com.