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ExxonMobil Sees Carbon Capture Market at $4 Trillion by 2050

Apr 20, 2022

ExxonMobil 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 an important emissions reduction technology, according to the International Energy Agency (IEA). It involves the capture of CO2 from fuel combustion or industrial processes…

Biden Unveils Investments in Indonesia Carbon Capture, Transport

Nov 14, 2022

U.S. President Joe Biden on Monday announced a number of investments in Indonesia spanning areas like climate and food security, including a $2.5 billion agreement between ExxonMobil and state-owned energy company Pertamina on carbon capture…

Deal Signed for First Offshore Floating CCS Hub Project in Asia Pacific

Sep 14, 2022

deepC Store, Mitsui O.S.K. Lines, (MOL) and Technip Energies have entered into a Letter of Intent that should lead to the construction of a Floating Storage & Injection (“FSI”) Hub facility for dCS’s CStore1 carbon capture and storage project offshore Australia…

Carbon Capture & Storage: Santos Reaches FID on Darwin Pipeline Duplication Project

Aug 29, 2022

Australian oil and gas firm Santos, as operator of the Barossa joint venture, on Monday announced a final investment decision (FID) has been taken to proceed with the Darwin Pipeline Duplication Project, located offshore the Northern Territory…

Korean Companies Ink CCS MoU With Petronas

Aug 04, 2022

Six South Korean companies and Malaysian state-owned energy company Petronas have agreed to work together to look at the feasibility of a cross border carbon capture and storage project in what's been called Asia’s first CCS hub project. Under a memorandum of understanding (MOU)…

dCS, JX NOEX File Bid for Offshore Carbon Capture & Storage Project in Australia

Mar 16, 2022

Australian carbon capture and storage firm deepC Store (dCS) said Wednesday it had with JX Nippon Oil & Gas Exploration Corporation (JX NOEX) submitted a joint bid for a Greenhouse Gas Assessment Permit for a Greenhouse Gas Storage Acreage Release Area in offshore Australia…

Petronas, Shell Exploring Offshore Carbon Capture And Storage in Malaysia

Jan 11, 2022

Malaysian oil and gas company Petronas has signed a collaboration deal with oil major Shell to explore opportunities and project collaborations in carbon capture and storage (CCS) space in Malaysia.The two companies will carry out a CCS Area…

ADNOC Taps Technip Energies to Optimize Ghasha Project Costs, Add Carbon Capture

Dec 08, 2021

Abu Dhabi National Oil Company (ADNOC) has awarded Technip Energies a contract to update the Front-End Engineering Design (FEED) for the Ghasha mega project including accelerating the integration of carbon capture into the development.This project…

Chevron, Partners to Fork Out for Carbon Offsets for Gorgon LNG Carbon Capture Shortfall

Nov 12, 2021

Chevron Corp and its partners in the Gorgon liquefied natural gas (LNG) project in Western Australia have agreed to buy carbon credits likely to cost more than $180 million as a penalty for failing to meet a five-year target for carbon capture and storage (CCS)…

Petronas, Exxon to Explore CCS Opportunities in Malaysia

Nov 09, 2021

Malaysia's state energy firm, Petroliam Nasional Berhad (Petronas), said on Tuesday it has partnered with a Malaysian unit of Exxon Mobil Corp to jointly explore opportunities in carbon capture and storage (CCS) technologies in a bid to decarbonize the country's upstream industry…

Indonesia CCS Could Need $500M

Nov 08, 2021

Deployment of carbon capture storage (CCS) in Indonesia could cost about $500 million, a senior official at Indonesia's state oil firm Pertamina said on Monday.Pertamina and ExxonMobil signed a memorandum of understanding during the COP26 summit…

Current News

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Lebanon Extends Offshore Exploration Licensing Round Deadline Again

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Wah Seong Wins $127M FPSO Topside Module Order

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TotalEnergies Pulls Out of Russia's Novatek with $3.7B Write-down

Proserv Secures SMS as Sampling Representative in Malaysia

Proserv Secures SMS as Sampling Representative in Malaysia

Gulf of Thailand: Valeura Energy to Buy Three Offshore Blocks from Mubadala Petroleum

Gulf of Thailand: Valeura Energy to Buy Three Offshore Blocks from Mubadala Petroleum

DEME, Penta-Ocean Unveil Upgraded Wind Turbine Installation Vessel Model

DEME, Penta-Ocean Unveil Upgraded Wind Turbine Installation Vessel Model

Petronas Makes 'Significant' Oil & Gas Discovery Offshore Malaysia

Petronas Makes 'Significant' Oil & Gas Discovery Offshore Malaysia
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