China National Offshore Oil Corporation officially launched a carbon neutrality project to comprehensively promote the company's transformation to green and low-carbon development on Jan 15.

CNOOC has established a specialized research institution, including several departments to launch the design, study and formulation of the company's carbon emission reduction roadmap and carbon-neutrality project. During the 14th Five-Year Plan period (2021-2025), CNOOC will focus on improving the supply capacity of natural gas resources and accelerating the development of new energy industries and promote clean and low-carbon energy in at least 60 percent of the energy mix after development.

CNOOC will actively join the establishment of a carbon credit trading market and focus on improving the company's carbon property management capacity. It has begun to launch a "carbon neutrality" liquid natural gas deal.