(Updates with new Equinor's targets) June 15 (Reuters) - The world's top oil and gas companies have set varying targets to reduce greenhouse gas emissions from their operations and the use of the products they sell. Some companies, including Royal Dutch Shell, BP, Norway's Equinor and Spain's Repsol, aim to reduce some or eliminate all of their emissions by 2050. Others, including Total, are focusing on reducing the carbon intensity of their operations and products. Intensity-based targets measure the amount of greenhouse gas (GHG) emissions, such as methane and carbon dioxide per unit of energy or barrel of oil and gas produced. That means that absolute emissions can rise with growing production, even if the headline intensity metric falls. Reducing emissions will require a well-functioning market for carbon, the scaling up of carbon capture and storage technology and the development of competitive uses of hydrogen, many of the companies have said. The table below shows details by company (in alphabetical order): Targets Scope Scope Scope Link Details 1 2 3 to exec. pay BP yes yes yes yes Bring net GHG emissions from its equity barrels from well to petrol station to zero by 2050 Reduce GHG intensity of all products it sells by 50% by 2050 Chevron yes no no yes Targets 35% reduction in GHG intensity by 2028 from 2016 base Reduce flaring intensity by 65% by 2028 Reduce methane intensity by 50% by 2028; zero routine flaring by 2030 ConocoP yes yes no Reduce GHG emissions hillips intensity by up to 15% (CO2e per boe) by 2030 per boe vs 2017 levels Eni yes yes yes yes Reduce absolute emissions to net zero by 2050; by 25% by 2025 and by 65% by 2040 Targets includes products purchased from third parties Equinor yes yes yes yes Reduce net GHG emissions to net zero by 2050 Reduce carbon intensity by 20% by 2030, by 40% by 2035 Exxon yes yes no yes Reduce methane emissions intensity by 40% to 50% versus 2016 levels by 2025 Eliminate routine flaring and cut upstream Scope 1 and Scope 2 gas emissions by 30% by 2030; report Scope 3 emissions. Performance share award pay tied to managing risks related to climate change. Repsol yes yes yes yes Reduce net carbon emissions to zero by 2050 (incl. Scope 3 from own barrels produced) Reduce carbon intensity vs 2016 by 10% by 2025 (per gigajoule), 20% by 2030, 40% by 2040 Reduce absolute emissions by 3 mln tonnes by 2025 (incl. Scope 3) Reduce methane emissions by 25% by 2025 Shell yes yes yes yes Reduce net carbon footprint (an intensity-based measure of carbon emitted per energy unit) vs 2016 baseline of all products sold by at least 6% by 2023, by 20% by 2030, by 45% by 2035 and by 100% by 2050 (incl. Scope 3 from products not produced but sold by Shell) 120 mln t nature-based offsets a year by 2030 25 mln t carbon capture and storage capacity a year by 2035 Total yes yes yes yes Worldwide Scope 3 emissions lower in 2030 vs 2015 Overall Scope 1, 2, 3 emissions intensity reduction by at least 60% by 2050 40% reduction in its Scope 1 and 2 emissions in 2030 compared to 2015 Overall Scope 1, 2 emissions to net zero by 2050 European Scope 1, 2, 3 emissions down 30% by 2030 in absolute terms, 100% by 2050 Five mln tonnes/year of carbon sinks by 2030 Methane intensity targets NOTE: 1) Scope 1 refers to emissions from a company's direct operations, such as a diesel generator on an offshore platform 2) Scope 2 are emissions from the power a company uses for its operations, such as gas-powered electricity purchased 3) Scope 3 includes emissions from products sold, such as gasoline sold at petrol stations or jet fuel sold to an airline 4) BOE stands for barrels of oil equivalent (Reporting by Shadia Nasralla and Ron Bousso. Editing by Emelia Sithole-Matarise, David Gregorio, Mark Potter, Barbara Lewis, Jonathan Oatis and Louise Heavens)
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