07:28 AM EDT, 05/14/2024 (MT Newswires) -- The European Commission on Tuesday approved the Net Zero North Sea Storage joint venture between oil giant BP (BP) and Norwegian energy group Equinor ( EQNR ) .

The Commission said it has concluded that the project would not raise competitive concerns.

Net Zero North Sea Storage plans to capture and store liquefied carbon dioxide emitted in the industrial Teeside and Humber regions of the UK.

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