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AlwaysFree: PetroChina to Evenly Split Oil, Gas, Green Energies in Portfolio


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.

Tags: AlwaysFree,Asia Pacific,Bio/Renewables,China,Coal,Crude Oil,English,Gas,NEA

Published on August 27, 2021 12:02 PM (GMT+8)
Last Updated on August 27, 2021 12:02 PM (GMT+8)