Lundin sells 'carbon neutral' oil to South Korea's GS Caltex

OSLO: Lundin Energy has sold an oil cargo certified as carbon neutral at the point of production to South Korean refiner GS Caltex in the first such sale of crude from Norway's Johan Sverdrup field, the Swedish company said on Wednesday.

The oil will be counted as carbon neutral from exploration, development and so-called scope 1 and 2 emissions, but the major emissions caused by the oil's final use, or scope 3 emissions, are not included. "Lundin Energy has then taken the further step to neutralise net residual emissions using high quality, natural carbon capture projects," the company said in a statement on Wednesday.It has previously said it will use tree-planting projects to neutralise such emissions.

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