UAE Oil Giant Adnoc Invests in Carbon Capture Project
Abu Dhabi National Oil Company (Adnoc) has announced that it will invest in a carbon capture project that will nearly triple its capacity to remove carbon dioxide from the atmosphere and store it below ground. The project, which is set to be operational by 2026 , will capture 1.5 million tons of carbon dioxide emissions per year from Adnoc's Habshan natural gas processing facility. The captured carbon dioxide will then be pumped into an oil field where it will be used to boost oil production. This is a significant investment by Adnoc and is a positive step towards reducing the company's carbon emissions. Carbon capture and storage (CCS) is a key technology for mitigating climate change, and this project will help Adnoc to achieve its target of net zero emissions by 2045. I am no expert and from what I read and understand is that it is important for oil companies to invest in carbon capture and storage technologies if we are to reduce our emissions and mitigate climate c...