PEMEX Backs Strong Methane Goal Likely to Meet or Exceed Reductions Called for by Mexico’s Draft Regs

(MEXICO CITY) – Thirteen oil and gas producers that comprise the Oil and Gas Climate Initiative (OGCI), including PEMEX, pledged to limit methane emissions across their global operations. The group’s members agreed to cap their methane releases at 0.2 to 0.25 percent of total marketed natural gas by 2025. Pemex is a founding member of OGCI, a CEO-led initiative that unites global oil and gas producers on key climate initiatives to reduce industry’s emissions.

The move by PEMEX comes just two months after the Mexican government issued draft methane regulations. Finalizing these rules are critical to ensuring that all oil and gas companies are operating to the standard PEMEX has committed itself to. An initial EDF analysis suggests that by meeting the OGCI target, PEMEX would likely meet or exceed the requirements of Mexico’s proposed methane rule.

“PEMEX, and the rest of the OGCI producers, are showing real leadership on methane. Taken together, the PEMEX target and the finalization of Mexico’s draft methane regulations will accelerate the modernization of Mexico’s energy industry. This concerted approach to tackling methane can lead to new economic development opportunities and boost the country’s position as a global climate leader.”

• Drew Nelson, International Affairs Director, Energy, EDF