HOUSTON : Exxon Mobil Corp and Chevron Corp shareholders on Wednesday overwhelmingly rejected calls for stronger measures to mitigate climate change, dismissing more than a dozen climate-related proposals at their annual meetings. The results supported the two largest U.S. oil producers in resisting pressure from investor groups calling for the pair to follow European rivals […]
If Chevron, Exxon, and Shell can’t get carbon capture right at Gorgon, who can? – EQ Mag Pro
At a cost of more than $3 billion, Gorgon, the largest carbon capture and storage (CCS) project in the world has failed to deliver, underperforming its targets for the first five years of operation by about 50%. Carbon capture technology has historically been used as a method of enhanced oil recovery – selling captured carbon […]
Exxon sees carbon capture market at $4 trillion by 2050 – EQ Mag Pro
HOUSTON : Exxon Mobil Corp. estimates there will be a $4 trillion market by 2050 for capturing carbon dioxide and storing it underground, the company said in a presentation on Tuesday. That is about 60% of the $6.5 trillion market the U.S. largest crude producer estimates for oil and gas by then. Carbon capture is […]
Exxon To Mount A Major Hydrogen, CCS Project At Its Baytown Complex – EQ Mag Pro
As part of its expanding Low Carbon Solutions business unit, ExxonMobil announced plans on Tuesday to mount a major new “blue” hydrogen production and carbon capture and storage (CCS) project at its venerable Baytown Refining and Petrochemical Complex. When completed, the company says it will be one of the largest CCS projects in the world. […]
Norwegian Pension fund drops Exxon, Chevron, BASF over climate lobbying
A Norwegian pension fund said Monday that it is divesting over USD 47 million from 27 companies, including Exxon and Chevron, as part of its commitment to combating climate change. The fund warned other major oil and gas companies it might drop them as well. Storebrand, which manages assets worth USD 91 billion, had over […]
