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

Also in this section
10 June 2025
Eni’s CCUS deal with BlackRock’s Global Infrastructure Partners reflects a growing belief among big investors in the CCUS growth story
3 June 2025
Africa faces challenges in adopting CCS but also has vast potential, with the technology being not just a climate tool but a catalyst for development
2 June 2025
Rather than a simple climate option, CCS is now being seen as a workable solution for Africa’s growth strategy
27 May 2025
EU Parliament and Council both agree to exempt bulk of importers from paying a carbon tax on goods imported into the EU