On December 29th, China National Petroleum Corporation (CNPC) announced that as of December 28th, the carbon dioxide injection volume of CNPC Xinjiang Oilfield has exceeded 1 million tons this year, becoming the first oilfield in China to achieve annual carbon injection of one million tons. This marks a crucial step for Xinjiang oil fields in the large-scale application of CCUS (Carbon Capture, Utilization, and Storage) technology, providing important technical support and practical paths for achieving carbon peak and carbon neutrality goals in China's oil and gas extraction.

The article reports that the injection of carbon dioxide into China Petroleum Xinjiang Oilfield has exceeded 1 million tons, and CCUS technology has been successfully applied, marking the large-scale implementation of carbon capture, utilization, and storage. This move aims to reduce carbon emissions during crude oil extraction and enhance the environmental sustainability of crude oil. In the context of global carbon reduction trends, it may increase the attractiveness of crude oil demand, reduce regulatory risks, and thus benefit spot prices.

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