Berlin | November 12th, 2024
Today, Urgewald and 34 NGO partners published the 2024 update of the Global Oil & Gas Exit List (GOGEL). GOGEL is the most comprehensive public database of companies in the oil and gas industry. It covers 1,769 companies active in the
upstream, midstream and power sectors. Companies on GOGEL are responsible for 95% of global oil and gas production. GOGEL 2024 can be downloaded at gogel.org
In 2023, oil and gas production reached a historic high. In the hottest year on record, companies on GOGEL produced 55.5 billion barrels of oil equivalent (bboe). Global hydrocarbons production surpassed the pre-COVID all-time high. “This production record is deeply concerning. If we do not end fossil fuel expansion and move towards a managed decline of oil and gas production, the 1.5 °C goal will be out of reach,” saysNils Bartsch, Head of Oil & Gas Research at Urgewald. One year ago, the UN Climate Change Executive Secretary heralded the COP28 agreement as the ‘beginning of the end’ of the fossil fuel era. But oil and gas companies’ actions tell a different tale: One where oil and gas expansion becomes a never-ending story.
The post Urgewald -The 2024 Global Oil & Gas Exit List: More Loss and Damage Ahead appeared first on groundWork.
