Energy

Abu Dhabi eyes new partnerships for carbon capture as oil price climbs

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DUBAI, United Arab Emirates — Oil rich Abu Dhabi and its national oil company are eyeing new partnerships in carbon capture technology as rising oil prices put a renewed focus on big oil’s climate mitigation strategies.

“There is no credible way of reaching global climate goals without seriously advancing and ensuring the widespread adoption of carbon capture and storage,” Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Abu Dhabi National Oil Company (ADNOC) Managing Director and Group CEO said over the weekend.

Carbon capture and storage (CCS) technology aims to reduce the level of carbon that’s released into the atmosphere through conventional power generation and…



Source cnbc.com

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