US E&P firms lack robust carbon reduction plans
Dallas Fed finds just one-third of E&P companies in the region plan to cut carbon emissions over the next five years, with oil and gas capex set to rise
Pressure is ramping up on oil and gas companies across the globe to reduce their carbon emissions, as countries pledge to become net-zero by 2050. But while many firms are committing to decarbonise their operations, others are failing to implement robust plans. This is despite the sector being directly or indirectly responsible for about 42pc of all global carbon emissions, according to estimates by consultancy firm McKinsey. Just a third of E&P oil and gas companies located or headquartered in Texas, southern New Mexico or northern Louisiana plan to cut greenhouse gas (GHG) emissions over the next five years, according to the Federal Reserve Bank of Dallas’ Q4 2020 survey of firms. The
Also in this section
9 January 2026
A shift in perspective is needed on the carbon challenge, the success of which will determine the speed and extent of emissions cuts and how industries adapt to the new environment
2 January 2026
This year may be a defining one for carbon capture, utilisation and storage in the US, despite the institutional uncertainty
23 December 2025
Legislative reform in Germany sets the stage for commercial carbon capture and transport at a national level, while the UK has already seen financial close on major CCS clusters
15 December 2025
Net zero is not the problem for the UK’s power system. The real issue is with an outdated market design in desperate need of modernisation
