Exxon among 50 oil producers in controversial climate pact

WASHINGTON: Exxon Mobil Corp and Saudi Arabia’s Aramco, the world’s largest private and state-sector oil companies, led a pledge by 50 oil and gas producers at the COP28 climate summit to cut emissions from their own operations.

The deal is controversial given none of the companies are agreeing to reduce oil and gas production. But they are planning to stem releases of methane, one of the most dangerous greenhouse gases, to near zero by 2030 and stop routine flaring of natural gas.