Leveling up: What the new OGMP 2.0 data tells us

Actionable Insights for a Decarbonizing World

Leveling up:

What the new OGMP 2.0 data tells us

Our 3 takeaways from new OGMP 2.0 data showing progress toward better methane measurement and abatement.

Introduction

Last year marked a milestone for the Oil & Gas Methane Partnership 2.0 (OGMP 2.0) – a reporting framework led by the International Methane Emissions Observatory that enables improved oil and gas methane emission inventories. Some members began to report methane at the Partnership’s most comprehensive level.

These 2023 data disclosures, released in November 2024, offer a clearer picture than ever before of the data quality of the methane emissions reported by member companies.

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Key messages from the data

OGMP 2.0 continues to grow. Members reporting their emissions to OGMP 2.0 reached 118 in 2023, up from 91 in 2022. This includes upstream, midstream and downstream operators in more than 70 countries around the world.
Data quality is improving. The average reported methane level moved higher in 2023, to 3.6 from 3.1 in 20221. Eight upstream operators reported at least some methane at the highest measurement level (Level 5) for the first time.
Reported methane intensity shows a u-curve pattern. Overall, reported methane intensity fell 5% year-on-year in 2023. However, those firms that reached the most advanced level of reporting generally showed an increase in methane intensity. This indicates that as operators reach Level 5 they are finding more methane emissions. However this pattern is not universal, but varies depending on the nature of production and other factors.

The data validates a central argument for OGMP 2.0: as direct measurements are incorporated into monitoring and reporting practices, they confirm scientific research indicating that generic emission factors tend to understate real world emissions.

Recommendations

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

Join OGMP 2.0. OGMP 2.0 is playing a critical role in driving better methane disclosure. While OGMP 2.0 membership has grown, there is room for further expansion, particularly among independent producers and producers outside the United States and Europe.
Level up. Membership in OGMP 2.0 implies a commitment to increasing reporting quality over time. Stakeholders should encourage further progress on levelling up, along with providing more data on asset-level emissions and the details behind reported progress.
Report on non-operated assets. A key feature of OGMP 2.0 is that members commit to reporting emissions from non-operated assets – data that is frequently unaccounted for in standard corporate emissions reporting. OGMP 2.0 members are allowed more time to comprehensively report material non-operated emissions; stakeholders should encourage progress in disclosing these.

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