The United Arab Emirates’ biggest oil producer is doubling its carbon-capture target as the company works toward a net-zero goal and looks to burnish its green credentials before the UN’s main climate summit.
Abu Dhabi National Oil Co. plans to capture 10 million tons of carbon dioxide emissions annually by 2030, up from a previous target of 5 million tons, according to a statement. Adnoc’s executive committee, chaired by Crown Prince Sheikh Khaled bin Mohamed Al Nahyan, approved the plan as part of the company’s strategy to have net zero emissions from its own operations by 2045.
Even with the more ambitious carbon capture target, Adnoc will only be stopping a fraction of its emissions from reaching the atmosphere. The company produces 24 million tons of CO2 annually at its own upstream operations, or production of oil and gas. Adnoc’s calculations also don’t cover emissions created by customers burning the oil and gas it produces.
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