EU’s Green Plan Will Force Oil Majors to Store CO2 Underground
- Fossil fuel firms will have to store CO2 based on production
- EU proposals target 50 million tons of CO2 injections by 2030
This article is for subscribers only.
Major oil and gas companies in the European Union will have to contribute toward storing carbon dioxide underground under landmark rules put forward by the bloc’s executive branch.
Carbon capture and storage was named as one of eight strategic technologies — alongside solar panels and heat pumps — under the EU’s Net Zero Industry Act, a plan to nurture green tech industries.