UAE ADNOC allocates $15bln

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I wanted to share this  beautiful news  about State-owned oil firm Abu Dhabi National Oil Company (ADNOC) is allocating 55 billion UAE dirhams ($15 billion) to implement a number of decarbonisation projects by 2030. 

The projects will include investments in clean power, carbon capture and storage (CCS), further electrification of operations, energy efficiency and new measures to build on ADNOC’s policy of zero routine gas flaring, the company said on Thursday.  

“Now, more than ever, the world needs a practical and responsible approach to the energy transition that is both pro-growth and pro-climate, and ADNOC is delivering tangible actions in support of both these goals,” said Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, and ADNOC Managing Director and Group CEO. 

“ADNOC will fast-track significant investments into landmark clean energy, low-carbon and decarbonisation technology projects,” Al Jaber added.

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