On Thursday, PetroChina announced its aim to evenly split oil, gas, and green energies’ shares in its portfolio by 2035 as it shifts toward a lower-carbon future.
Chairman Dai Houliang said, "Our capital spending will increase progressively on green energies.”
At the moment, natural gas makes up around 47% of its total output, while oil made up 53%.
The company is at the early stages of developing renewables.
Other than that, the company is focusing on geothermal, solar, and wind power by adding renewable projects in 2021 with a total capacity of 3.45 million tonnes of standard coal equivalent. Currently, PetroChina has 350,000 tonnes of standard coal equivalent projects under construction.
