Mexico’s Pemex to Invest $2B to Reduce Methane Pollution Amid Growing Concern Over Emissions

Mexico’s state oil company Petróleos Mexicanos (Pemex) plans to invest $2 billion to reduce upstream methane emissions by up to 98%, Mexico’s president Andrés Manuel López Obrador said Friday.

The investment is one of 10 actions Mexico is undertaking to fight climate change, the president said in a video address to the Major Economies Forum on Energy and Climate (MEF) convened by U.S. President Joe Biden.

As part of the event, Mexico joined the United States, the European Union and eight other major economies in joining the Global Methane Pledge Energy Pathway. The initiative encourages countries  “to capture the maximum potential of cost-effective methane mitigation in the oil and gas sector” and to eliminate routine flaring of natural gas “as soon as possible, and...