UAE oil company earmarks $15 bln to reduce carbon footprint

Published 15:33 on January 5, 2023  /  Last updated at 15:33 on January 5, 2023  /  EMEA, Middle East  /  No Comments

The Abu Dhabi National Oil Company (ADNOC), which bought a 24.9% stake in Austrian oil refining group OMV in December, has earmarked $15 bln for decarbonisation projects to help towards a goal of reducing carbon intensity by 25% by 2030.

The Abu Dhabi National Oil Company (ADNOC), which bought a 24.9% stake in Austrian refiner OMV in December, has earmarked $15 bln for decarbonisation projects to help towards a goal of reducing carbon intensity by 25% by 2030.

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