Cairn Oil & Gas joins UN’s Methane Reduction Initiative, 1st in India

Current Context: Cairn Oil & Gas, a Vedanta Group company, has become the first Indian oil and gas producer to join the United Nations Environment Programme's (UNEP) Oil & Gas Methane Partnership (OGMP) 2.0.

• This initiative, signed on November 4, 2024, in Abu Dhabi, requires Cairn to set a five-year methane reduction target and report its progress transparently.
• The partnership aligns with Cairn's commitment to achieving net-zero carbon emissions by 2030.
• Key Points:
• Methane Reduction Target: Cairn will establish a five-year target to reduce methane emissions.
• Transparent Reporting: Progress will be reported to OGMP, ensuring accountability and transparency.
• Global Impact: OGMP 2.0 covers over 40% of global oil and gas production, aiming to reduce methane emissions by 30% by 2030.
• Environmental Commitment: Cairn has already reduced potential gas flaring volume by 60% over the past four years.

Question:

1 Which company has become the first Indian oil and gas producer to join the United Nations Environment Programme's (UNEP) Oil & Gas Methane Partnership (OGMP) 2.0?

• A) Reliance Industries
• B) Oil and Natural Gas Corporation (ONGC)
• C) Cairn Oil & Gas, Vedanta Group
• D) Indian Oil Corporation

Answer: C) On November 4, 2024, Cairn Oil & Gas became the first Indian oil and gas producer to join the UNEP's OGMP 2.0 initiative, showcasing its commitment to methane reduction and net-zero carbon emissions by 2030.