Gulf NOCs are expanding their carbon capture and hydrogen capacity. Partnerships with foreign companies are creating new trade opportunities. Middle East could capture up to 50m tonnes per annum of carbon by 2030. Saudi Arabia aims to become a world leader in hydrogen production and export. As hydrocarbons producers reap sustained revenue from high global prices, national oil companies (NOCs) in the Gulf are accelerating investment in carbon capture, utilisation and storage (CCUS); hydrogen; and other green energies to make their activities less carbon-intensive and support the energy transition. Last week Saudi Aramco reached a deal with China’s Sinopec to develop CCUS and hydrogen while building a manufacturing complex at the King Salman Energy Park in eastern Saudi Arabia. In July Abu Dhabi National Oil Company (ADNOC) signed a deal with France’s TotalEnergies to collaborate on CCUS and hydrogen. The deal will help ADNOC meet its goal of capturing […]