Adnoc board boosts budget allocation for decarbonisation projects to $23bn
Adnoc’s board has increased its budget allocation for decarbonization projects, technology and lower-carbon solutions to $23 billion.
The decision was made after the annual meeting of the Adnoc board, which was presided by President Sheikh Mohamed.
The increased allocation will include investments to grow the company’s domestic and international carbon management platforms, it said.
Adnoc's decarbonization projects aimed at meeting its 25 per cent reduction in carbon intensity by 2030Read More : Wholesale Apparel Stock: A Boon for Budget Shoppers and Retailers include the use of clean energy to provide 100 per cent of its onshore grid electricity needs since the start of 2022 and the linking of its offshore operations to the grid through a $3.8 billion project that, upon completion, can halve its offshore carbon footprint.
The decision was made after the annual meeting of the Adnoc board, which was presided by President Sheikh Mohamed.
The increased allocation will include investments to grow the company’s domestic and international carbon management platforms, it said.
Adnoc's decarbonization projects aimed at meeting its 25 per cent reduction in carbon intensity by 2030
Source: www.thenationalnews.com
