PetroChina Aims to Power All Its Output With Clean Energy by 2033

By Charles Kennedy - Mar 27, 2024, 11:30 AM CDT. Chinese state oil and gas giant PetroChina plans to power all its drilling and refining activities with clean power by 2033 and to install massive renewable energy capacity this year. The Chinese firm is pledging to boost renewables operations just when international oil majors have started to walk back on some of their clean energy ambitions. ADVERTISEMENT. Shell, for example, reaffirmed earlier this month its ambitions to be a net-zero energy business by 2050 but eased its carbon intensity target for 2030 as it has shifted away from clean power sales to retail customers. ADVERTISEMENT. In contrast, PetroChina pledges to install as much as 30 gigawatts of renewable energy capacity this year, company executives said in an earnings press briefing on Wednesday, as carried by Bloomberg. The state energy giant's target now is that "All drilling and refining activities will be powered by clean energy" by 2033, chairman Dai Houliang said at the briefing. That's much earlier than initial plans to have green energy power all operations by 2050. Last year, Chinese natural gas and LNG demand rebounded from 2022, when the world's top LNG importer was still under COVID-related lockdowns that were weighing on household and business consumption of all energy products.