In 2023, Aramco recorded a 5.1% reduction in upstream methane emissions and maintained its upstream methane intensity at 0.05%. Aramco’s energy efficiency initiatives resulted in an avoidance of 0.73 million metric tonnes of carbon dioxide equivalent. In June 2024, the Saudi Aramco Power Company, ACWA Power, and PIF’s Badeel signed power purchase agreements with the Saudi Power Procurement Company for three new solar photovoltaic projects in Saudi Arabia, with a combined capacity of 5,500 megawatts, for $3.3 billion. In July 2024, Aramco signed definitive agreements to acquire a 50% stake in Air Products Qudra’s Blue Hydrogen Industrial Gases Company to expand lower-carbon hydrogen production in Saudi Arabia.