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GE and Statoil (STO) launch an R&D partnership to work on ways to cut greenhouse gas emissions, in a bid to show that fossil fuels can have a long-term future under increasingly tough climate regulations.
- The two companies are seeking technologies that can reduce emissions and cut costs, for example by reducing the wasteful flaring of associated gas released during oil production, FT reports.
- The partnership is a first for GE’s oil and gas services division, which believes technologies to cut the use of fuel and other resources will prove commercially attractive at a time of weak oil prices.