Adnoc earmarks $15bn for decarbonisation

Abu Dhabi’s state oil company to develop array of projects including CCS, carbon removal and electrification in major investment programme to 2030

Abu Dhabi’s state oil company, Adnoc, has unveiled plans to spend $15bn on an array of decarbonisation projects by 2030, with a strong emphasis on carbon capture and storage (CCS). The investment will support its strategy to reduce carbon intensity by 25pc by 2030 and achieve net-zero emissions by 2050, a goal approved by Adnoc’s board in November. The company plans to announce a suite of new projects and initiatives throughout 2023, including a “first of its kind” CCS project, carbon-removal technologies and investment in renewables. Adnoc will also invest in further electrification of its operations, energy efficiency and new measures to support its policy of zero routine gas flaring. “Adn