China National Petroleum to step up development of carbon reduction technology

Oil giant China National Petroleum Corp said the company would step up the development of carbon capture, utilization and storage (CCUS) technology to reduce carbon dioxide emissions in the energy sector as China goes through its low-carbon transition.

The company has been conducting 11 CCUS experiments through its 10 oilfields with an annual carbon dioxide injection capacity of 567,000 tons and an accumulative carbon dioxide storage of more than 4.5 million tons.

The company vowed to step up the large-scale industrial CCUS application project construction during the 14th Five-Year-Plan (2021-25) while striving to make core technological breakthroughs in CCUS technology.

The company is determined to push forward industrial chain demonstration and commercial application of the technology to put the country on the path to carbon neutrality by 2060.

It aims to inject 5 million tons of carbon dioxide using the CCUS technology by 2025 to contribute to the country's carbon peak and carbon neutrality goals.