Norway's Lundin says world's first carbon neutral crude sold to Saras

London, (Quantum Commodity Intelligence) - Norwegian oil and gas upstream company Lundin has made what it said is the world's first-ever sale of crude oil with a carbon-neutral production process, according to a statement released Monday.

The sale was made to Italian refiner Saras and comprised 600,000 barrels from Lundin's low-carbon Edvard Grieg field at 3.8 kg of CO2 per barrel of oil equivalent.

The resulting 2,302 tonnes residual CO2 emissions captured using high quality, nature-based solutions, said the statement.

The certification provider Intertek certified the full life of field CO2 emissions of every
barrel as carbon neutral, which includes exploration, development and production.

"As the energy transition continues to accelerate, providing certified, low emission produced barrels to our customers ensures that they can continue the decarbonisation pathway, delivering a differentiated product to their end users. From 2025, every barrel produced by Lundin Energy, will be produced as carbon neutral," said the statement.