The Oil and Gas Climate Initiative (OGCI) announced this thursday (16/7) a goal for carbon intensity reduction in the participating companies upstream operarions. The goal is to reach a performance of 20 to 21 kg of CO2 for each equivalent traded oil barrel until 2025, from a collective baseline of 23 CO2e/boe in 2017.

The decision is aligned with the reduction needs projected by the sector's companies in the Paris Agreement. The expected reduction is from 36 to 52 million tons of CO2 per year, equivalent to the emissions from energy consumption of 4 to 6 million homes.

Petrobras integrates OGCI since January 2018. The company has undertaken the commitment of zero growth of absolute operational emissions in the coming years. In the last decade, the actions concerning carbon intensity in the exploitation and production activities have allowed for a growth of approximately 40% in Petrobras oil and gas production without an increase to absolute emissions in this area.

Petrobras has improved its carbon intensity in the Exploitation and Production operations by 42% in the last decade (from 2009 to 2019), attaining one of the best intensities among oil and gas producers, commited to further reducing 13% until 2025.