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Recently, Petronas said that the company will take active steps to achieve Malaysia's "NZCE2050" goal, which is to achieve net zero carbon dioxide emissions
by 2050.
Petronas President and Group CEO Datuk Tawfik said that in order to achieve the NZCE2050 target set by the government in November 2020, the company will reduce CO2 emissions
in a safe, reliable and cost-effective manner while providing the necessary energy.
In the five years from this year to 2026, 20% of capital expenditure will be spent on decarbonization projects and the use
of clean energy.
PETRONAS is implementing four projects to ensure the achievement
of NZCE2050 targets.
The four projects are: reducing emissions such as flare gas (associated gas) during crude oil drilling, improving energy efficiency, promoting electrification, and introducing carbon capture and storage (CCS) technology
.
In November last year, PETRONAS and ExxonMobil Exploration and Production Malaysia reached an agreement
on cooperation in the use of CCS technology.
In September, the company went through its wholly-owned subsidiary Genteri and treasury property developer UEM
Sunrise has formed a partnership to actively promote decarbonization
through the installation of solar power generation facilities, among other things.
