Sweden’s Lundin Petroleum set a course to emulate Norwegian neighbour Equinor, as it unveiled an energy transition strategy that includes investments in wind and other renewables to cut emissions.

Lundin Petroleum aims to achieve carbon neutrality by the end of the decade, with its board proposing to change its name to Lundin Energy to reflect the shift.

The Swedish operator is looking to cut the intensity of carbon dioxide emissions from both its operated and non-operated fields to below 4 kilograms of CO2 per barrel of oil equivalent (boe) from 2020 and to below 2kg per boe from 2023, compared with a global average of 18kg per boe, and to net zero by 2030.