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Canada’s major oil producers are now united in trying to achieve net-zero greenhouse gas emissions by 2050, calling their plan good for the economy. But one group says it's a public relations push to get federal money.
Equipment and methods proved at commercial scale to mineralize and sequester carbon dioxide gas in finished concrete have earned their developers, CarbonBuilt and CarbonCure Technologies, top honors in NRG Cosia Carbon Xprize, a $20 million global competition centered on managing and monetizing emissions from coal and natural gas combustion.
The companies will receive $7.5 million each to further develop their technologies for ready mixed and manufactured concrete production and curing. They prevailed among eight other finalists three from the United States, two from Canada, one from China, India, and United Kingdom in a six-year competition to see which team could capture the most carbon dioxide in the highest valued product(s). The 10 finalists received $500,000 for reaching the third (2019-2020) of three Carbon Xprize rounds. Launched in 2015 with 47 submissions from teams in seven countries, the competition progressed under the carbon-minded Xprize Foundation of Culver City, Cal
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1 Comparative figures include Cenovus results prior to the January 1, 2021 closing of the Husky transaction and do not reflect historical data from Husky.
2 Adjusted funds flow, free funds flow and net debt are non-GAAP measures. See Advisory.
3 Prior period has been restated to conform with the current period definition of adjusted funds flow.
Q1 overview
Progress on integration and synergies
Cenovus is in the process of reassessing the acquired Husky assets for synergies above and beyond the company s original $1.2 billion target. This includes opportunities to apply Cenovus s in situ operating expertise to Husky s legacy in situ assets in Alberta and Saskatchewan. Application of these operating practices drove record average daily production in the quarter at Cenovus s Lloydminster thermal business, including a single-day production record of approximately 103,000 barrels per day (bbls/d) in March.
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Cement literally serves as a building block for our ever-growing world, but it’s taking a steep toll on the environment.
Cement and its end product concrete accounts for 7 per cent of global carbon emissions, with emissions from the industry expected to rise by 4 per cent globally by 2050, according to the International Energy Agency. Indeed, Bill Gates, the tech tycoon that’s now focused on resolving environmental issues, calls concrete among the “hardest” products to decarbonize.
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