China’s oil demand started 2024 on a positive note in the first quarter, but economic projections point to a tougher path in the coming months.

The latest Emissions Monitor shows that some firms are doubling back on targets, like Shell, while others choose to double down. Several European and Asian NOC companies have published their 2023 sustainability reports, with benchmarking data now available in this update. Additional data will be added as remaining companies report data later this year. In terms of emissions performance, Western majors are outcompeting their NOC peers, demonstrating improvements in their operated emissions. Methane remains a core focus with the launch of the Oil and Gas Decarbonization Charter, which includes specific targets for operated methane emissions from its signatories.