About the Data
GOGEL contains data on the upstream and midstream subsectors of the oil & gas industry. The database covers
- 95% of oil & gas production
- 97% of short-term upstream expansion
- 94% of capital expenditure on oil & gas exploration
- 289 companies responsible for midstream expansion
- 215 companies linked to 26 reputational risk projects on 5 continents.
All companies that in 2021 produced
≥ 20 mmboe of oil & gas and/or
≥ 2 mmboe of oil & gas
in one of 6 unconventional categories
All companies that intend to add
≥ 20 mmboe of oil & gas resources to their production portfolio
All companies that spent
≥ USD 10 million annually on exploration between 2020 and 2022 (3-year average)
All companies developing
≥ 100 km of pipelines
All companies developing
≥ 1 Mtpa of annual LNG terminal capacity
GOGEL features several unique data points that allow users to "look into the future" by revealing companies' upstream and midstream expansion plans. GOGEL is the first tool that makes it possible to systematically assess whether a company’s activities are in line with the IEA Net-Zero Emissions Scenario [NZE]. In its “Net Zero by 2050” report from 2021, the IEA specifies a pathway for the energy sector to limit global temperature rise to 1.5°C. The report clearly states, “No fossil fuel exploration is required in the NZE [Net-Zero Emissions Scenario] as no new oil and natural gas fields are required beyond those that have already been approved for development.” (IEA Net Zero by 2050)
IEA NZE Expansion Overshoot
The GOGEL IEA NZE Expansion Overshoot metric includes all oil & gas resources, which were approved for development after December 31, 2021 or are currently in the process of being approved (field evaluation). Keeping these oil and gas resources in the ground and ending exploration is the bare minimum of what is needed to keep 1.5°C attainable.
GOGEL includes figures on the average amount of money a company spent on exploration activities in the past 3 years (Exploration CAPEX). Exploration is the first stage in the life cycle of an oil & gas asset and involves searching for resources that can only start producing many years from now. This means that all exploration activity is incompatible with the IEA NZE scenario and other pathways aimed at limiting global warming to 1.5°C.
The GOGEL Short-Term Expansion metric states the amount of resources companies are actively seeking to bring into production in the near future. It includes all oil & gas resources that either have been approved for production or are in the process of being approved. Even if oil & gas companies abandon all short-term expansion plans today, currently producing fields would provide oil & gas for many years to come.
GOGEL lists companies responsible for development of new pipelines and new LNG terminal capacity. Midstream expansion tends to increase upstream expansion because it either simplifies distribution and/or allows to transport more oil & gas. Midstream infrastructure will only pay off if it operates for several decades. This means that pipelines and LNG terminals are threatening to lock the world into a high-emissions pathway. In a world where global warming is limited to 1.5°C, this infrastructure is useless.
Reputational Risk Projects
Oil & gas projects have many adverse effects beyond greenhouse gas emissions. They can trigger or exacerbate violent conflicts and harm communities and the environment. Local communities protest projects or challenge them in court. Oil & gas projects can quickly turn into a reputational risk for their financial backers, such as banks, investors and insurers.
GOGEL links listed companies to reputational risk projects that fall within one or more of 4 reputational risk categories: (1) social harm; (2) environmental destruction; (3) conflict/violence; and (4) litigation. Information on reputational risk projects comes from Urgewald’s extensive network of partner organizations. The reputational risk projects are linked to the companies listed with quantitative data on GOGEL, although other companies can also have stakes in the projects. The list of reputational risk projects is not conclusive and is updated regularly.
GOGEL relies on a variety of data sources. The information on current oil & gas production, production percentages and upstream expansion is based on quantitative data obtained from Rystad Energy. The other part of the upstream data is based on company data sources, like annual reports, financial statements and investor presentations. In some cases, we also use information from government agencies or stock exchanges.
The midstream segment of GOGEL contains information sourced from Global Energy Monitor (GEM). GEM tracks fossil infrastructure projects globally.
The descriptions of the Reputational Risk projects rely on different sources, like NGO reports, independent research institutions, reliable news outlets and information from partner organizations.
Work in Progress
GOGEL is a work in progress. The database will be updated each fall and also expand over time. In future iterations of GOGEL, we aim to include gas-fired power expansion and other subsectors of the oil & gas industry.