CEO and President
The importance of affordable, reliable and accessible oil and natural gas became abundantly clear in 2022, as the world navigated post-COVID-19 demand recovery, a series of geopolitical disruptions and the impacts of ongoing energy policy changes. For our part, APA prepared for a return to a production growth path, while delivering on ambitious ESG goals, with significant focus on emissions reduction. Through the hard work of our talented and dedicated global workforce, we are helping to meet the challenges of increasing energy access, thereby ensuring energy security while decreasing emissions. Energy access and affordability challenges in both developed and developing nations were exacerbated in 2022 by the onset of the war in Ukraine, rising inflation and intensified efforts to rapidly transition away from fossil fuels. The inflationary effect on the cost of energy, and subsequently, the cost of living, reached some of the highest levels in decades, underscoring the need for continued investment in the critical resources that fuel our society.
We believe that oil and natural gas are essential to a prosperous world and will continue to play a critical role in the global energy mix for decades to come.”
As the coming decades unfold, and the world’s energy consumption expands, we believe that producers and suppliers of energy will need to increase investment in both traditional and alternative energy sources. As a result, reducing our reliance on fossil fuels will be challenging and is likely to occur only gradually, over a prolonged period. Perhaps a more productive perspective from which to address both climate change and the world’s growing energy needs is by reframing the “fossil fuel problem” as an “emissions challenge.” This will help to actively engage all industries in identifying, implementing and investing in practical and affordable emissions reduction solutions, including energy conservation and efficiency. At APA, we approach ESG goal-setting through a pragmatic lens, focusing on near- and medium-term goals that are actionable today and provide measurable impact, including progression to meeting our longer term goals. To best focus our efforts, we plan our ESG initiatives across three central pillars: Air, Water and Communities+People. These priorities demonstrate our clear commitment to reducing emissions, responsibly stewarding natural resources and supporting the well-being of our workforce and local communities.