Oxy and Macquarie deliver world s first shipment of carbon-neutral oil
By IANS |
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Wed, Feb 3 2021 19:21 IST |
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New Delhi/Houston, Feb 3 : Oxy Low Carbon Ventures (OLCV), a division of Occidental, has announced the delivery of two million barrels of carbon-neutral oil to Reliance Industries in India.
This transaction, which was arranged in conjunction with Macquarie Group s Commodities and Global Markets group (Macquarie), is the energy industry s first major petroleum shipment for which greenhouse gas (GHG) emissions associated with the entire crude lifecycle have been offset.
This transaction is a first step in the creation of a new market for climate-differentiated crude oil. It is also a bridge to the development of a further differentiated petroleum product, net-zero oil, which Occidental intends to eventually produce through the capture and sequestration of atmospheric CO2 via industrial-scale direct air capture (DAC) facilities
Reliance Industries gets world s first carbon-neutral oil from US
Photo: Mint
. Updated: 03 Feb 2021, 07:08 PM IST PTI
Mukesh Ambani s Reliance Industries has sourced the world s first consignment of carbon-neutral oil from the US as it looks to become a net zero-carbon company by 2035
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NEW DELHI :
Billionaire Mukesh Ambani s Reliance Industries Ltd has sourced the world s first consignment of carbon-neutral oil from the US as it looks to become a net zero-carbon company by 2035.
Reliance, which operates the world s largest single-location oil refining complex at Jamnagar in Gujarat with capacity of 68.2 million tonnes a year, got 2 million barrels of consignment Permian basin, the US supplier said in a statement.
Reliance gets world s first carbon-neutral oil from US
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Last Updated: Feb 03, 2021, 07:52 PM IST
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Synopsis This transaction, which was arranged in conjunction with Macquarie Group s Commodities and Global Markets group (Macquarie), is the energy industry s first major petroleum shipment for which greenhouse gas (GHG) emissions associated with the entire crude lifecycle, well head through combustion of end products, have been offset, it said.
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It is also a step in the furtherance of Occidental s net-zero ambitions and commitment to addressing climate change today.
New Delhi: Billionaire Mukesh Ambani s
Reliance Industries Ltd has sourced the world s first consignment of carbon-neutral oil from the US as it looks to become a net zero-carbon company by 2035. Reliance, which operates the world s largest single location oil refining complex at Jamnagar in Gujarat with capacity of 68.2 million tonnes a year, got 2 million barrels of consignment Permian
Reliance receives world s first carbon-neutral oil from US
Oxy Low Carbon Ventures (OLCV), a division of US oil major Occidental, delivered the carbon-neutral oil to Reliance
PTI | February 3, 2021 | Updated 21:03 IST
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Billionaire Mukesh Ambani s Reliance Industries Ltd has sourced the world s first consignment of carbon-neutral oil from the US as it looks to become a net zero-carbon company by 2035.
Reliance, which operates the world s largest single location oil refining complex at Jamnagar in Gujarat with capacity of 68.2 million tonnes a year, got 2 million barrels of consignment Permian basin, the US supplier said in a statement.
Oxy Low Carbon Ventures (OLCV), a division of US oil major Occidental, delivered carbon-neutral oil to Reliance, the firm said.
Billionaire Mukesh Ambani s Reliance Industries Ltd has sourced the world s first consignment of carbon-neutral oil from the US as it looks to become a net zero-carbon company by 2035. Reliance, which operates the world s largest single location oil refining complex at Jamnagar in Gujarat with capacity of 68.2 million tonnes a year, got 2 million barrels of consignment Permian basin, the US supplier said in a statement. Oxy Low Carbon Ventures (OLCV), a division of US oil major Occidental, delivered carbon-neutral oil to Reliance, the firm said. This transaction, which was arranged in conjunction with Macquarie Group s Commodities and Global Markets group (Macquarie), is the energy industry s first major petroleum shipment for which greenhouse gas (GHG) emissions associated with the entire crude lifecycle, well head through combustion of end products, have been offset, it said.