Oil majors pledge $1 billion for technologies to fight climate change

LONDON/OSLO (Reuters) - Oil majors including Saudi Aramco, Royal Dutch Shell and Total on Friday pledged to invest $1 billion in carbon-reducing technologies to help fight climate change. The Oil and Gas Climate Initiative (OGCI) also includes BP, Eni, Repsol, Statoil, CNPC, Pemex and Reliance Industries. The 10 firms said they would first focus on speeding up deployment of carbon capture, use and storage (CCUS) technology and reducing methane emissions that can leak from pipelines.