Saudi Arabian oil giant Aramco has announced a new target of building 12GW of wind and solar capacity by 2035.
In its quest to up its green energy generation, it is also looking to increase production of ammonia to 11 million tonnes and hydrogen to 1.93 million tonnes.
However, these will be blue hydrogen and ammonia, derived from fossil fuel gas from carbon capture and storage.
The company has stated that these renewable investments will lead to 14 million tonnes of carbon emissions and it is targeting a further 11 million tonne in carbon emissions through carbon capture and storage technologies.
Amin H. Nasser, Chief Executive, said: “Our ambition is to achieve operational net zero by 2050 and our sustainability report highlights how we aim to continue meeting the world’s rising demand for secure, reliable and affordable energy, while also contributing to the broader energy transition.”