Search Climate Insights Directory

Global Energy Monitor identifies 74 new oil and gas projects that could emit 2.4 million metric tonnes of methane annually by 2030, potentially undermining the Global Methane Pledge. The analysis reveals significant discrepancies between these potential emissions and the company-wide figures reported by operators to the OGMP 2.0, suggesting widespread underreporting of assets or methane intensity. A small number of fields in Saudi Arabia and Guyana account for a disproportionate share of these emissions, while new EU regulations on imported oil and gas are expected to impact many of these developments.

The report argues that Reconnaissance Energy Africa Ltd. (ReconAfrica) shifted its public narrative from targeting unconventional shale resources to conventional ones after the Namibian government clarified that no fracking licenses had been granted. The authors claim that ReconAfrica removed references to 'shale' and 'unconventional' from its website, investor presentations, and personnel biographies while continuing to rely on resource estimates and a technical team specialized in unconventional plays, potentially violating Canadian securities laws on material disclosure.

The report examines the vulnerability of U.S. coastal oil refineries to sea level rise and storm surge, focusing on five major companies: Valero, Phillips 66, Exxon Mobil, Marathon Petroleum, and Chevron. It argues that these companies fail to adequately disclose material physical climate risks to the SEC, despite guidance issued in 2010. The analysis uses SLOSH MOM modeling to demonstrate that current and future sea level rise increases the likelihood of facility inundation and operational disruptions. The report highlights the resulting financial risks for investors and the environmental and health risks for neighboring communities, particularly those in the Gulf Coast region.