Decline in Permian Basin Methane Emissions Equaled the Annual Carbon Emissions Avoided by Every Electric Vehicle in the United States, New S&P Global Commodity Insights Analysis Finds | PR Newswire [Video]

Analysis provides the most accurate public, basin-wide estimate of methane emissions for the Permian

, /PRNewswire/ — Annual methane emissions stemming from oil and gas production operations in the Permian Basin decreased 26% in 2023 from the previous year—equal to the total amount of carbon emissions avoided by every electric vehicle on the road in the United States that year, according to a new analysis by S&P Global Commodity Insights.

The data show that methane emissions from upstream oil and gas operations in the Permian Basin fell by more than 34 billion cubic feet (bcf) in 2023, the most recent year that data is available. Given that methane is a potent greenhouse gas, the reduction was equivalent to 18.5 million tons of carbon dioxide emissions avoided (100-year equivalency factor of 28*).  

The findings of the latest analysis for Permian upstream methane, produced in partnership with leading methane management firm Insight M, are based on high frequency observation data that include nearly …