The Oil & Gas Climate Initiative (OGCI), made up of chief executives of some of the world’s largest oil and gas companies, said on Friday the investment will be made over the next 10 years to develop and accelerate the commercial deployment of innovative low emissions technologies.
OGCI is currentlymade up of supermajors BP, Shell and Total, China National Petroleum Corporation (CNPC), Italy’s Eni, Mexico’s Pemex, Indian conglomerate Reliance Industries, Spanish major Repsol, Saudi Aramco and Norwegian player Statoil – companies that together represent one fifth of the world’s oil and gas production.
“The
