Dec 17, 2022

Norwegian companies submit record $20.5 billion fossil fuel investment plans amid Russia-Ukraine war

Posted by in category: energy

This does not bode well for eco-friendly renewables.

Last month, Europe supported a call by India to phase down fossil fuel use as part of a COP27 deal. Now, partially due to the Russian-Ukrainian war, it seems to be changing its mind.

These projects amount to total investments of more than NOK 200 billion (around $20.

Aker BP

Norway’s oil and gas company Aker BP and its partners announced on Friday that it has submitted a plan for installation and operation and ten plans for the development and operation of oil and gas projects to the Norwegian Ministry of Petroleum and Energy (MPE), according to a press release by the firm.

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