Tool Will Help Energy Companies Measure Greenhouse Gas Emissions and Energy Utilization
SAN RAMON, Calif., June 22 -- ChevronTexaco Corp. (NYSE: CVX) and the American Petroleum Institute (API) today announced an agreement by which ChevronTexaco will transfer ownership of its SANGEA(TM) Energy and Emissions Estimating System to API, enabling energy and petrochemical companies, government regulatory agencies, and other industry regulatory groups to use the software, in conjunction with the API Compendium, to enhance voluntary reporting of greenhouse gas (GHG) emissions.
The API Compendium is a reference manual containing standard methodologies to estimate the quantities of carbon dioxide and other greenhouse gases that are produced by the combustion of a given unit of a specific fuel. The compendium includes methodologies for estimating GHG emissions from common oil and gas industry activities. Oil and gas companies use the API Compendium to voluntarily estimate greenhouse gas emissions from their operations.
"This agreement with API further demonstrates ChevronTexaco's commitment to address the important issue of global climate change," said ChevronTexaco Chairman and CEO David J. O'Reilly. "We believe it is essential for companies in the energy business to have the ability to consistently measure and calculate greenhouse gas emissions and energy utilization data on a global basis. Accurate emissions estimation is an essential first step in addressing greenhouse gas emissions."
ChevronTexaco is donating the software to API for use by all oil and gas companies to promote standardization of methodologies used and comparability in the gathering of greenhouse gas inventory information. API will continue the free distribution of the software. API member companies have committed to use standardized methodologies from the compendium as part of the commitments in the API Climate and Greenhouse Gas Estimation and Reporting Challenge.
The API Compendium provides up-to-date methodologies for estimating emissions of methane, carbon dioxide and nitrous oxide. The SANGEA(TM) software is an emissions-estimating tool that utilizes the compendium's methodologies to create an auditable inventory of both greenhouse gas emissions and energy utilization. The compendium and SANGEA(TM) software can be used to estimate emissions from most oil and gas industry activities, including exploration and production, refining and marketing, petrochemical manufacturing, transportation, electricity generation and other related activities. Spreadsheets created by the SANGEA(TM) software can be linked to existing data-management systems to automate the calculation process.
"We appreciate ChevronTexaco's leadership on this issue," said API President Red Cavaney. "Because the SANGEA(TM) software is based on the API Compendium, API can now offer energy and petrochemical companies, government regulatory agencies, and other industry regulatory groups a complete set of integrated tools for estimating emissions."
Company inquiries about the SANGEA(TM) software should be directed to API's Karin Ritter at 202-682-8472 or ritterk@api.org.
About ChevronTexaco
Currently celebrating its 125th anniversary, ChevronTexaco is the second-largest U.S.-based energy company and the fifth largest in the world, based on market capitalization. More than 50,000 ChevronTexaco employees work in approximately 180 countries around the world, producing and transporting crude oil and natural gas, and marketing and distributing fuels and other energy products. ChevronTexaco is based in San Ramon, California. For more information visit: www.chevrontexaco.com.
About the American Petroleum Institute
The American Petroleum Institute is a trade association based in Washington, D.C. It represents all sectors of the U.S. oil and natural gas industry and has more than 400 member companies, including ChevronTexaco. For more information visit: www.api.org.
SOURCE ChevronTexaco