Mubadala Petroleum, Eni team up on energy transition | Reuters
Italy's Eni (ENI.MI) has teamed up with Mubadala Petroleum to look at joint investments in the energy transition field as part of plans to cut carbon footprints.
In statements on Tuesday, the two groups said they had signed a memorandum of understanding (MoU) to cooperate in areas like hydrogen and carbon capture in the Middle East, North Africa, South East Asia, Europe and other regions of mutual interest.
Mubadala Petroleum, owned by Abu Dhabi sovereign wealth fund Mubadala Investment Company, said the agreement was part of its "proactive approach to Environmental, Social & Governance (ESG) considerations and its energy transition goals".
"This includes pursuing a gas-weighted portfolio as a key bridge to renewables," Mubadala Petroleum CEO Mansoor Mohamed Al Hamed said.
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