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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  BP plc    BP.   GB0007980591

BP PLC

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BP : to Deploy Technology to Measure Methane Emissions

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09/10/2019 | 12:04pm EDT

By Maitane Sardon

BP PLC (BP.LN) said Tuesday it will start measuring its methane emissions on a continuing basis in future oil-and-gas processing projects it operates as part of its goal to reduce its environmental footprint.

The move comes as oil-and-gas companies, the largest emitters of methane, face increasing pressure to detect the amount of the greenhouse gas they release into the atmosphere. Although carbon-dioxide emissions are the primary driver of climate change, methane is about 25 times more potent than CO2 in trapping the earth's heat, according to estimates used by the U.S. Environmental Protection Agency.

The British energy major, which has been criticized for lobbying against U.S. methane rules, said continuous measurement, including gas-cloud imaging, will be rolled out to all its new projects worldwide.

BP said it will use the data generated to identify the largest opportunities to tackle methane emissions, drive efficiency and develop best practice.

In addition to measurement of methane, BP said it will deploy a network of technology, including drones, hand-held devices and thermal-imaging cameras for flare monitoring.

"The faster and more accurately we can identify and measure leaks, the better we can respond and, informed by the data collected, work to prevent them," said Gordon Birrell, BP's chief operating officer for production, transformation and carbon.

Write to Maitane Sardon at maitane.sardon@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
BP PLC -1.45% 517 Delayed Quote.5.78%
WTI -4.09% 59.33 Delayed Quote.21.48%
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Financials (USD)
Sales 2019 281 B
EBIT 2019 20 561 M
Net income 2019 9 952 M
Debt 2019 48 056 M
Yield 2019 6,27%
P/E ratio 2019 13,1x
P/E ratio 2020 11,3x
EV / Sales2019 0,63x
EV / Sales2020 0,58x
Capitalization 130 B
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Number of Analysts 25
Average target price 7,62  $
Last Close Price 6,52  $
Spread / Highest target 51,0%
Spread / Average Target 16,9%
Spread / Lowest Target -6,52%
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Robert W. Dudley Group Chief Executive Officer & Executive Director
Helge Lund Chairman
Andy Hopwood Group COO, Executive VP-Strategy & Regions
Brian Gilvary Group Chief Financial Officer & Executive Director
David Eyton Group Head-Technology
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