Equinor Aims for Net-Zero Emissions by 2050, New CEO Says


November 2, 2020
Equinor's New CEO Anders Opeda - Image by Ole Jørgen Bratland

Equinor's New CEO Anders Opeda - Image by Ole Jørgen Bratland

Norwegian oil and gas firm Equinor aims to become a net-zero emitter of CO2 by 2050, including emissions from the production and final consumption of petroleum, the company's new chief executive said as he took office on Monday.

"We are ready to further strengthen our climate ambitions, aiming to reach net-zero by 2050," Anders Opedal said in a statement.

Opedal, the first engineer to lead state-controlled Equinor, replaces Eldar Saetre, who in August announced his upcoming retirement.

The new CEO reiterated the company's long-held ambition of increasing its oil and gas output by 3% per year for the period 2019-2026.

Opedal plans to expand the company's acquisition of acreage for wind power, and said the ambition of reaching net-zero emissions would require carbon capture and storage (CCS), so-called natural sinks and the use of technologies for hydrogen.

"Equinor is preparing for an expected gradual decline in global demand for oil and gas from around 2030 onwards ... In the longer term, Equinor expects to produce less oil and gas than today," the company said. 

(Reporting by Nerijus Adomatis and Terje Solsvik; Editing by Kim Coghill)

No comments

More Popular Posts

About Crude Oil Facilitators

Crude Oil Facilitators are dedicated global brokers and facilitators of crude oil buying and selling. We work directly with crude oil buyers and crude oil sellers worldwide. We are a United Kingdom and Nigerian based firm, privately owned and devoted to the brokering of crude oil and other petroleum products buying and selling.

We have buyers and sellers of;

1. Nigerian Bonny Light Crude Oil, BLCO

2. D2 Diesel Fuel, JP54 Jet Fuel, Mazut etc.

3. Saudi Light Crude Oil, SLCO

4. Iraqi Light Crude Oil

If you are a buyer or seller of crude oil or other petroleum products or have mandate to buy or sell any of the above oil products, do contact us because we could be of help.

To contact Crude Oil Facilitators, click here ». To learn more about Crude Oil Facilitators, click here

Crude Oil Facilitators