(Updates paragraph 2 to reflect Shell no longer being bound by

Dutch court to cut Scope 3 emissions; updates BP's abandonment

of goal to cut oil and gas production in chart; updates

emissions graphics for oil majors to reflect 2023 data.)

Nov 12 (Reuters) - The world's biggest oil and gas

companies have set varying targets to reduce greenhouse gas

emissions from their operations and the combustion of the

products they sell.

On Tuesday, Shell won an appeal against a landmark 2021

ruling that required it to cut its absolute carbon emissions by

45% by 2030 compared to 2019 levels, including those caused by

the use of its products.

Scientists say the world must cut greenhouse gas emissions

by around 43% by 2030 from 2019 levels to stand any chance of

meeting the 2015 Paris Agreement goal of keeping warming well

below 2 degrees Celsius (3.6 Fahrenheit) above pre-industrial

levels.

Direct comparisons of the oil companies' climate plans are

difficult as they emphasise different approaches to

intensity-based targets and how to include greenhouse gases from

the combustion of their fuels - known as Scope 3 emissions.

Intensity-based targets measure the amount of greenhouse gas

(GHG) emissions, such as methane and carbon dioxide, per unit of

energy or barrel of oil and gas produced.

That means absolute emissions can rise even if the headline

intensity metric falls - for example with the addition of

renewables or biofuels to the product mix.

Reducing emissions will require a well-functioning market

for carbon, the scaling up of carbon capture and storage

technology, and the development of competitive uses of hydrogen,

many of the companies have said.

The table below shows details by company (in alphabetical

order).

Targets 2030 Absolute Intensity- 2050 Details

Scope 2030 based 2030 target

1+2 reduction reduction

reducti incl. Scope incl.

on 3 Scope 3

BP 50% vs 20%-30% vs 15%-20% vs net Has

2019 2019 2019 zero abandoned

(excludes (includes company goal to cut

fuel sold all fuel oil and gas

by BP but sold by BP output by

derived even if 25% by 2030

from oil derived vs 2019

produced by from oil

others) produced

by others)

Chevron 35% oil no 5% by 2028 net Guides more

and gas vs 2016 zero than 3%

upstrea Scope 1 annual

m and 2 growth of

intensi aspirat oil and gas

ty to ion output by

24 kg (upstre 2027

CO2e/bo am)

e by

2028 vs

2016

ConocoP 40%-50% no no Net Does not

hillips vs zero set any

2016 Scope 1 Scope 3

and 2 targets

Eni net 35% vs 2018 15% vs net Expects

zero (includes 2018 zero hydrocarbon

fuel sold (includes company production

by Eni fuel sold to grow

produced by by Eni 3%-4%/yr

others) produced between

by 2022 and

others) 2026 and

then stay

flat until

2030, with

gas

accounting

for 60% of

output by

then

Equinor 50% vs no 20% vs net Sees 2030

2015 2019 zero oil and gas

(operat company output on

ed par with

assets) 2022 when

it was

around 2

mln boed.

Expects oil

output to

grow to

2026, then

decline.

Exxon 20% no no net Does not

corpora zero set any

te-wide Scope 1 Scope 3

emissio and 2 targets

ns (or of

23 mln operate Add 500,000

t) vs d boed output

2016; assets by 2027 to

30% reach 4.2

reducti mln boed

on in

upstrea

m

busines

s (or

15 mln

t)

Repsol 55% vs 30% vs 2016 28% vs net Under

2016 by (excludes 2016 zero nations'

2025 fuel sold (excludes company currently

by Repsol fuel sold announced

but derived by Repsol climate

from oil but pledges,

produced by derived Repsol

others) from oil expects to

produced produce

by 350,000-400

others) ,000 boed

in 2050

Repsol

expects oil

refining to

fall

80%-90% by

2050

Shell 50% vs Ambition to 15% to 20% Net Has ruled

2016 reduce vs 2016 zero out setting

customer (includes company absolute

emissions all fuel emissions

from use of sold by cuts

oil Shell) targets for

products by 2030

15% to 20%

vs 2021

TotalEn 40% vs