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Small EU oil and gas companies to be exempt from 2030 carbon storage target

By Eleonora Rinaldi ( May 22, 2025, 13:52 GMT | Insight) -- Oil and gas companies with low production levels will be exempted from obligations to contribute to the EU's carbon dioxide storage targets, according to a delegated regulation adopted to support the EU's Net Zero Industry Act. Oil and gas producers must contribute to an annual injection capacity of 50 million metric tons of CO2 by 2030 under the act, but those that produced less than 610,000 metric tons of oil equivalent, representing less than 5 percent of total EU production, between 2020 and 2023 will now be exempt.Oil and gas companies with low production levels will be exempted from obligations to contribute to the EU's carbon dioxide storage targets, according to a delegated regulation adopted to support the EU's Net Zero Industry Act....

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