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China Cnooc Wind Carbon capture Decarbonisation
Shi Weijun
Shanghai
4 October 2022
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Cnooc ramps up wind development

Chinese state oil company following in footsteps of European counterparts as it looks to decarbonise its portfolio

Chinese state-controlled oil giant Cnooc is spending billions to ramp up offshore wind power development, as it joins fellow hydrocarbons firms at home and in Europe in boosting renewable energy investment. Cnooc, China’s second-biggest oil and gas producer, aims to peak its CO₂ emissions by 2028 and reach carbon-neutrality by mid-century—targets that are a respective two and ten years earlier than those set for China as a whole by President Xi Jinping. As part of this decarbonisation drive, the Shanghai and Hong Kong-listed NOC has said it will boost capex on renewable energy to 5-10pc/yr by 2025, up from c.1pc last year, and lift it further to 10-15pc in the second half of this decade. Bas

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China eyes global collaboration on CCUS
22 July 2025
Sinopec hosts launch of global sharing platform as Beijing looks to draw on international investors and expertise
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22 July 2025
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EU’s binding CCS targets: A burden or a blessing?
17 July 2025
Oil and gas companies will face penalties if they fail to reach the EU’s binding CO₂ injection targets for 2030, but they could also risk building underused and unprofitable CCS infrastructure
Brazil eyes leadership role in global carbon market
9 July 2025
Latin American country plans a cap-and-trade system and supports the scale-up of CCS as it prepares to host COP30

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