Swedish oil company Lundin Petroleum will seek to make its operations carbon neutral by 2030, the company said Monday.
The company aims to cut emissions, boost energy efficiency and develop a carbon capture mechanism.
Alex Schneiter, president and CEO of Lundin Petroleum said that Lundin has set out a realistic and deliverable pathway towards becoming carbon neutral.
To this end, the company plans to replace all net electricity usage of power from shore, through investments in renewable power generation from 2022 onwards.
The board of Lundin Petroleum also proposed to change the name of the company to Lundin Energy AB.
The proposed name change remains subject to shareholder approval at the company’s annual general meeting on March 31, 2020.
By Murat Temizer