China National Offshore Oil Corporation Limited (CNOOC) officially released the "dual carbon" action plan. On June 29, CNOOC issued the "Carbon peak, carbon neutral" action plan (hereinafter referred to as the "double carbon" action plan), saying that it strives to achieve carbon peak in 2028 and carbon neutrality in 2050, and the proportion of non-fossil energy production exceeds the proportion of traditional oil and gas production. This marks the start of CNOOC's green and low-carbon transformation. According to the "dual carbon" action plan, CNOOC will implement a "three-step" strategy. The first step is the clean replacement stage The period is 2021-2030, and the overall characteristics are the peak of carbon emissions, the decline of carbon intensity, the major progress of industrial restructuring, and the breakthrough of negative carbon technology. The second step, low-carbon leapfrog stage The period is 2031-2040, and the overall characteristics are the transformation of the oil and gas industry, the rapid development of new energy, the orderly decline of total carbon emissions, and the commercial application of negative carbon technologies. The third step is green development The period is 2041-2050, and the overall feature is to promote the continuous decline of total carbon emissions and achieve net zero emissions, and basically build a diversified low-carbon energy supply system, a smart and efficient energy service system, and a large-scale carbon storage and carbon recycling system. Cnooc plans to promote six major actions, namely, stabilizing oil and increasing gas security, comprehensively improving energy efficiency, clean energy replacement, industrial transformation and upgrading, leapfrog green development and leading scientific and technological innovation. In addition, 23 key projects will be arranged to ensure national oil and gas security and accelerate the development of the domestic natural gas industry. In 2021, CNOOC will produce 33.8 billion cubic meters of natural gas, import 34.08 million tons of LNG, supply 68.6 billion cubic meters of natural gas, and generate 22.1 billion KWH of natural gas. During the same period, CNOOC implemented 105 energy-saving and emission reduction renovation projects with a total investment of 450 million yuan, saving 274,000 tons of standard coal and reducing 880,000 tons of carbon dioxide. On June 5, China National Petroleum Corporation Limited issued the "China Petroleum Green and Low-carbon Development Action Plan 3.0", which divides the green and low-carbon development action into three stages. 1. The 2021-2025 period is the clean alternative stage, and the proportion of new energy capacity is planned to reach 7% in 2025; 2. 2026-2035 is the strategic succession stage, and it is planned to achieve three parts of new energy and new business and oil and gas business in 2035; 3, 2036-2050 for the green transition period, the plan is to 2050 thermal hydrogen energy accounted for about 50%. During the "14th Five-Year Plan" period, CNOOC strives to reduce carbon emission intensity by 10%-18%, and investment in strategic emerging industries such as new energy accounts for 5%-10% of total capital expenditure; By 2050, China aims to become a world-class supplier of clean and low-carbon comprehensive energy products and services. Cnooc has set up a new Department of Energy to manage the development of zero-carbon negative carbon industry and green electricity trading. Set up a limited new energy branch, responsible for the specific development and implementation of zero carbon negative carbon energy projects. At present, CNOOC's low-carbon business includes offshore natural gas, onshore unconventional gas, overseas LNG resources and domestic new energy.
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