By Maitane Sardon
Equinor ASA (EQNR.OS) said Friday that its production of renewable energy rose in 2018, while its carbon intensity was unchanged from 2017, in line with the company target.
The Norwegian energy firm increased its production of renewable energy to 1,251 gigawatt hours from 830 GWh. It said it spent $500 million on new energy solutions.
The company reported a carbon intensity of 9 kilograms of carbon dioxide produced per barrel of oil equivalent last year, unchanged from 2017 and in line with its 2020 target.
Methane intensity also remained unchanged in 2018 at 0.03% of product volume, comfortably lower than the European average of 0.4% according to Oil and Gas Climate Initiative.
Equinor said it cut 264,000 metric tons of CO2 emissions in 2018, citing a rise in small energy-efficiency projects.
The company has so far reduced annual CO2 emissions by 600,000 tons as it aims for a reduction in its annual CO2 output of 3 million tons by 2030.
However, Equinor's total greenhouse-gas emissions in 2018 rose slightly to 358.1 million tons of CO2 equivalent.
Write to Maitane Sardon at firstname.lastname@example.org