Sinopec targets hydrogen in decarbonisation drive

Pivot to hydrogen suggests Sinopec will embrace green hydrogen rather than extend brown and grey production

State-owned Sinopec has identified hydrogen as its best bet for carving out a role in China’s transition to cleaner energy, placing the zero-emission fuel at the center of an ambitious long-term drive to decarbonise well before national targets. Sinopec’s new strategy will involve hydrogen and new-energy segments as a major growth engine for the next few years, according to management comments at an earnings conference on Monday. Asia’s largest oil refiner also aims to peak its carbon emissions by 2025, five years ahead of a national target of 2030, and then become carbon-neutral by mid-century, which would be a decade before China hopes to stop contributing to global warming following Presi