Adnoc faces both ways
The state firm caught the global mood in the fourth quarter with a string of decarbonisation initiatives, but it also set out plans to raise oil and gas production
As the dust settled this month on a frenetic six weeks for the Abu Dhabi’s state-owned Adnoc, the shape and scope of the firm’s decarbonisation strategy—and by extension that of its government owner—has become considerably clearer. Adnoc’s intent to become a major global player not only in blue hydrogen but also in the green variety was shown in a landmark deal to buy into renewables heavyweight Masdar, its sister company and the historic champion of the emirate’s greener side. Meanwhile, Adnoc’s ambitious but vague pledges to reduce internal emissions from its vast oil and gas operations became firmer via three international and domestic partnership agreements. Abu Dhabi’s hydrogen strategy
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