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Vedanta’s Cairn Oil & Gas inks MoU to join UNEP’s OGMP 2.0

04 Nov 2024 Evaluate

Cairn Oil & Gas, part of Vedanta, has signed a Memorandum of Understanding (MoU) with United Nations Environment Programme’s (UNEP) flagship methane reporting and mitigation initiative - Oil & Gas Methane Partnership (OGMP) 2.0, making it the first Oil & Gas producer in India to commit to effective reduction of methane emissions, further accelerating its efforts to decarbonise its operations. OGMP 2.0 established a comprehensive framework that includes best practices for emissions management and a robust reporting system. It emphasises accurate measurement, reporting, and verification (MRV) of methane emissions to drive reductions effectively.

Under this MoU, Cairn will establish a 5-year methane reduction target and transparently report its progress to OGMP. This would enable Cairn to analyse its emission profiles and utilise the data to mitigate emissions cost-effectively. With this partnership, Cairn reaffirms its commitment to accelerate its efforts towards becoming Net Zero Carbon by 2030. OGMP 2.0 covers over 40% of global oil and gas production empowering companies to improve the quality and accuracy of emissions data for effective methane reduction.

Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore, aluminium and commercial power.


Vedanta Share Price

782.75 16.85 (2.20%)
16-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Hindalco 1039.65
Vedanta 782.75
Hindustan Zinc 592.45
Jain Resource Recycl 417.45
Gravita India 1668.60
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