Adnoc and Aramco lead Gulf NOCs’ blue hydrogen drive
The Gulf heavyweights are investing heavily in expanding their hydrogen capabilities as they complete the carbon economy circle
Excitement surrounding the nascent hydrogen market has not been lost on the world’s largest oil companies. As the majors make strides to embrace hydrogen in their new green and transition-aligned strategies, state-owned players have also started to make their own moves. With access to some of the world’s largest oil and gas reserves, Saudi Aramco and the UAE’s Adnoc are perhaps not the archetypal leaders of the cleantech revolution. However, the growing role of hydrogen presents a significant opportunity for these firms to both diversify revenues and decarbonise operations. Meanwhile, with estimates suggesting that the world’s largest oil economies will lose out on up to $13tn over the next
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