The programme, unveiled at the COP28 climate summit in Dubai, is a recognition that while large oil companies in the US have spent years working to pare methane releases from wells, pipelines and processing equipment, many national oil companies are only getting started.
Six major oil companies each contributed tens of millions of dollars to a grant fund meant to help state-owned rivals cull the release of super-warming methane emissions, but Chevron and Exxon Mobil did not join in.
At issue is a Global Flaring and Methane Reduction Partnership that will be run by the World Bank with initially US$255 million ($341.21 million) earmarked to help developing countries and their oil companies stifle leaks of that potent greenhouse gas.
