On Monday, oil and gas producer Kosmos Energy said that it targets its operations carbon neutral by 2030.
To reach the aim, Kosmos will increase its gas portfolio, improve its operational carbon footprint, and invest in nature-based solutions including wetland restoration and reforestation projects.
The company’s next measure would include developing a target for Scope 3 emissions such as diesel or petrol in a passenger car. Kosmos would be among the first pure oil and gas producers to develop the goal.
The company will not seek access to new frontier oil basins and will produce 62000 boepd this year.
Further, Kosmos said that in the fourth quarter of 2019, it posted a loss of USD36.6 million and that its CFO Thomas Chambers would retire in May.
By 15.45 GMT on Monday, the company’s shares slumped by 15%.
