Leveling Up 2025: Lessons from OGMP 2.0 company disclosures

Introduction

The Oil & Gas Methane Partnership 2.0 (OGMP 2.0), led by the International Methane Emissions Observatory, continues to reshape methane disclosure across the global oil and gas industry. More companies than ever are integrating direct measurement into their inventories, and a rapidly growing share have now reached Level 5, the highest measurement level.

The newest data offers the clearest picture yet of how companies’ measurement practices are improving, what they are finding as measurement expands, and how these disclosures should be interpreted by investors and other stakeholders.

Key messages from the data

• OGMP 2.0 is expanding rapidly. Membership has risen to 153 companies, now covering 42% of global operated and non-operated production.
• Companies are moving up the measurement ladder. Thirty-one operators now report Level 5 for at least half of their reported methane emissions – up from just 7 in 2023. Long-term members show steady gains in measurement quality.
• Reaching Level 5 reveals more methane. Aerial surveys, drones, and mobile platforms consistently find emissions previously undetected by LDAR, leading to higher reported methane as companies integrate site-level measurements.
• The methane “u-curve” remains. Methane intensity falls as companies progress from Levels 2–4, then rises again at Level 5 as new sources are uncovered. Crucially, operators already at Level 5 saw methane intensity decline in 2024, showing that intensive measurement supports real reductions.
• Higher reported emissions means better data – not worse performance. The findings reaffirm that generic emission factors typically understate real-world methane. While initially higher, measurement-rich inventories give a truer picture.

Recommendations

Based on these insights, the financial sector and other stakeholders should ask for the following from the oil and gas industry:

1. Join OGMP 2.0: Prioritize expansion among independent producers and non-OECD operators.
2. Level up: Encourage steady progress toward Level 5 and more complete asset-level reporting.
3. Expect higher emissions during the transition Support companies as measurement improves, then push for reductions once Level 5 is reached.
4. Ask for detail: Request clear explanations of methodologies, boundary changes, and mitigation outcomes.
5. Report non-operated assets: Strengthen disclosure of JV and partner-operated emissions, a defining but still underdeveloped element of OGMP 2.0.