In line with the EU’s Industrial Carbon Management Strategy and the Clean Industrial Deal, the European Commission adopted a Delegated Regulation yesterday, specifying the identification and calculation rules that apply to European oil and gas producers required to provide new CO2 storage solutions by 2030. Based on this Delegated Regulation, the Commission has today adopted a Decision setting out the individual shares of oil and gas producing companies in fulfilling the EU’s collective target of 50 million tonnes of annual CO2 injection capacity into geological CO2 storage sites by 2030 as established by the Net-Zero Industry Act. (Source: European Commission)