We use cookies
To help provide you with a good experience on our website. By continuing to browse the website, you are agreeing to our use of cookies.

Equinor aims for net zero emissions by 2050


Equinor aims for net zero emissions by 2050

Norwegian energy company Equinor EQNR.OL aims to become a net zero emitter of greenhouse gases by 2050, including emissions from the production and final consumption of oil and gas, its new chief executive said as he took office on Monday. Source: Reuters

Anders Opedal, the first engineer to lead state-controlled Equinor, plans to expand the acquisition of acreage for wind power while also utilising carbon capture and storage (CCS) and so-called natural sinks while looking to develop the technology to make hydrogen power commercialy viable.

We are ready to further strengthen our climate ambitions, aiming to reach net zero by 2050.

Opedal, who replaces Eldar Saetre

Opedal reiterated an ambition of increasing oil and gas output by 3% a year over 2019-2026 but declined to say if Equinor will persevere with its loss-making onshore U.S. shale oil and gas operations.

The decision to invest (in U.S. onshore) was taken a long time ago, when we had different sentiments about oil and gas and different price assumptions.

Opedal told Reuters

We will see in the future whether we can extract more value from it.

Opedal told Reuters

Opedal will present a detailed strategy update next June.


The burning of oil and gas accounts for the majority of the world’s carbon emissions and many investors have pushed oil majors to strengthen their green ambitions.

Oil companies have set varying goals for cutting emissions, including so-called Scope 3 emissions from final consumption.

However, Opedal said it is too early to know whether Equinor’s absolute emissions, including Scope 3, will be lower in 2030, given the company’s planned output growth until 2026.

Equinor said it is looking to acquire more acreage suitable for wind power and expects to produce less oil and gas in the longer term as global demand falls gradually from around 2030.

Mark van Baal, head of Dutch activist group Follow This, said Equinor’s targets seem the most ambitious in the industry, but its plans to produce more oil and gas this decade contradict the goals of the Paris climate agreement.

It’s like reaching for the skies while crawling over the ground.

he said

Relevant news

SLB and Equinor drill most autonomous well section to-date
SLB and Equinor will increase drilling with fully autonomous operations.
Optime Subsea secures contract with Equinor for ROCS system
Optime Subsea and Equinor sign a contract for the delivery of groundbreaking Remote Operated Controls System.
Equinor and Linde have signed an agreement to develop the H2M Eemshaven low carbon hydrogen project
Equinor and Linde will development the H2M Eemshaven a low carbon hydrogen project in the Netherlands.
ABN AMRO fuels green innovation: Invests in SET fund IV's digital technology drive for a sustainable future
ABN AMRO is investing in data and digital technology companies that help to a zero-carbon society.
Equinor, Kongsberg Digital to collaborate on simulation technology for offshore operations
Kongsberg Digital and Equinor, will collaborate on strong safety and sustainability focus in offshore operations.
Mars pledges US$1B investment in net zero emissions plans
Mars has released its “Net Zero Roadmap,” setting targets to cut carbon in half by 2030.