Carbon capture and storage
The early enthusiasm for carbon capture and storage (CCS) is showing signs of strain as the limited capital availability and political support become clearer.
The two companies said they will evaluate the possibility of a joint venture to develop a direct air capture hub in South Texas, with XRG considering investing up to $500 million.
The plant at Heidelberg Materials’ cement facility in Brevik, Norway, has captured its first 1,000 metric tons of carbon dioxide.
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The duo also plan to develop and mature new technologies across the carbon-capture value chain. -
Occidental Petroleum’s CEO Vicki Hollub said she plans to transform her oil and gas business into a carbon management company and to break ground next year on a direct air capture facility that will suck carbon dioxide out of the atmosphere in the Permian Basin, the country’s most prolific oil field.
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A new white paper reports that Houston is better poised than anywhere else in the US to play a far more significant role in reducing emissions from industrial sources.
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Chevron is partnering with Microsoft, oilfield services firm Schlumberger, and privately held Clean Energy Systems to build a carbon capture plant in California, as the US oil major expands investments in renewable technology.
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The Biden administration wants green investment, jobs to stay stateside in emerging $23-trillion global market.
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The group of three companies says it is looking to provide solutions for a more alternative-energy-driven landscape.
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Carbon capture, utilization, and storage can play a role in attaining net zero emissions, helping the planet achieve climate goals, and increase oil and gas production at the same time.
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There is little question that carbon capture, storage, and utilization is destined to become one of America’s big growth industries in the years to come.
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The US oil giant is launching a new business unit that will boost its ability to reduce its own greenhouse gas emissions along with those of other industries.
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Using Europe as the focus, an expert panel discusses the role and opportunities for oil and gas in getting to net zero CO2 emissions.
