Decarbonization
A DNV report on decarbonization says the Middle East and North Africa region is expected to become the world’s largest hydrogen exporter by 2060 while maintaining a dominant position in global oil and gas markets.
A final investment decision is also expected by the end of the year for the company’s first low-carbon data center project.
The North Sea Transition Authority has updated its UKCS Well Applications and Consents Guidance to include the process for applying for consent to drill carbon-storage wells.
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The oil industry is investigating carbon capture and sequestration projects after Congress passed expanded tax credits last year. But questions linger about how much industry investments will actually lower greenhouse gases. -
A bipartisan group of senators introduced a bill to increase federal funding toward developing carbon capture technology while also committing to fossil fuel use.
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The US Department of Energy has announced up to $20 million in federal funding for cooperative agreements that will help accelerate the deployment of carbon capture, utilization, and storage.
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The investments highlight the first significant collaboration between the air-capture field and energy industry leaders.
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IPIECA, the oil and gas industry association for environmental and social issues, has released a new fact sheet in an effort to promote carbon capture and storage.
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The most recent report from the United Nation’s Intergovernmental Panel on Climate Change and December’s international conference on climate change held in Katowice, Poland, show that the world is not coming close to reaching the targets set in the landmark Paris Agreement of 2015.
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The Acorn Project will capture about 200,000 tonnes of carbon dioxide from the St. Fergus Gas Terminal and transport it for storage to one of three depleted gas fields using existing pipelines.
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Some of these technologies can be deployed now, but additional ones are needed to meet climate goals.
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A new analysis looks at what it would take for oil companies to start pumping millions of tons of carbon dioxide into their wells to boost crude production and what it would mean for the climate.
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Even with the wealth of experience already in place within the oil and gas industry, the obstacles to advancing CCS to the forefront of greenhouse gas mitigation technologies remain significant.
