British oil major BP Plc will invest about $1.3 billion to build pipes and other infrastructure in the Permian Basin, the Wall Street Journal reported. These new facilities will capture natural gas produced as a byproduct from oil wells in the US largest shale region. The plan will eliminate routine natural gas from the oil field by 2025, the report said.
Oil producers often burn gas produced from oil wells in a process called flaring. However, this process releases greenhouse gasses into the atmosphere. Flaring reduction is a way for an oil company to cut its emissions. BP’s investment in ending gas flaring also reflects growing pressure on the oil industry to cut its carbon footprint. Last month, BP said its Scope 1 and 2 emissions fell by 16% in 2020.
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Published on April 19, 2021 2:02 PM (GMT+8)Last Updated on April 19, 2021 2:02 PM (GMT+8)
