GLOBAL OFFSHORE UPDATE

The Oil and Gas Climate Initiative (OGCI), comprising 10 of the largest energy companies in the world, has announced an investment of $1bn over the next ten years, to develop and accelerate the commercial deployment of innovative low emissions technologies. OGCI Climate Investments (OGCI CI) will aim to deploy successfully-developed new technologies among member companies and beyond. It will also identify ways to cut the energy intensity of both transport and industry. Working in partnership with like-minded initiatives across all stakeholder groups and sectors, the OGCI CI says it believes its emission reduction impact can be multiplied across industries.

China Leads the Planet in CO2 Emissions, but Persian Gulf States Lead on Per Capita Basis According to the World Bank’s current data, China was the leading emitter of carbon dioxide in 2011, outstripping the CO2 emitted by the U.S., India, and Russia combined. This should come as no surprise, as a country’s carbon emissions generally have a positive relationship to both its population and level of industrial activity. The opposite is seen on a per capita basis, where China and India have posted the lowest numbers. Small, energy intensive Persian Gulf emitters Saudi Arabia, the United Arab Emirates, Kuwait, and Qatar have posted the highest levels per capita. The chart below shows total and per capita emissions of CO2 on a country basis, breaking total country emissions out by fuel of origin. It is the World Bank’s snapshot in 2011. Use of fossil energy for transportation and electricity generation accounts for the lion’s share of emissions caused by human activity, al...