Norwegian oil companies, which are fighting to open a huge new oil field off the coast of Shetland, have reduced billions of pounds from the Green Expenditure Plan, supporting more fossil fuels.
On Wednesday, the Equer set a plan to half investment in low -carbon energy while producing more oil and gas, and became the latest fossil fuel company to betray the green promise.
A Norwegian petroleum company told investors that it would reduce expenditures on renewable energy from $ 1 billion to $ 5 billion to $ 5 billion, planned in the next two years.
With the reduction of green budgets, the growth of a low-carbon energy business, including a part of the UK's largest offshorewind farm, will be slow, and will be 10-12 Gigawatts (GW) from the previous goal of 12GW-16GW.
It will also produce 2.2 million barrel oils a day by 2030. This is 10 % higher than the previous plan. The company wants to promote this growth with barrels from the largest unauthorized oil field in the UK in the Rose Bank in the North Sea.
The RoseBank project has urged labor governments to pursue Green Agenda as successful while realizing economic growth. Equer states that it is working with the British government and regulatory authorities to move the project in a new consent process.
The company based in Oslo has revealed that shells and BP signal to betray the green expenditure plan to utilize green oil and gas market for investors, and then suspend green investment. did.
It is widely expected that BP will reduce the number of goals for reducing petroleum production in the next five years and have revised their green energy goals in the next five years. “A company that is simpler, more concentrated, and more valuable.”
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French oil company TOTAL-ENERGIES stated that on Wednesday, the net income of 2024 fiscal year decreased by 26 % and then reduced low carbon energy spending from 10 % to $ 4.5 billion. According to Patricpouyanné, the highest executive officer, this was still the third highest result.