The project would collect emissions from industrial facilities along the Houston Ship Channel and bury them beneath the Gulf of Mexico.
(Bloomberg) Exxon Mobil Corp. proposed a giant, $100 billion hub to capture carbon dioxide emissions along the U.S. Gulf Coast in Texas but warned that government funding would be required to pay for and develop it.
In what would be the world’s biggest carbon carbon and sequestration project, Exxon along with a multitude of private and public partners would build a facility to collect emissions from refineries, petrochemical plants and other industrial facilities along the Houston Ship Channel, Joe Blommaert, president of Exxon’s new low-carbon business said in a blog post.
by Bloomberg
|Thursday, April 01, 2021
Exxon Mobil Corp. expects first-quarter earnings to be reduced by as much as $800 million.
(Bloomberg) Exxon Mobil Corp. expects first-quarter earnings to be reduced by as much as $800 million due to the deep freeze that plunged Texas into darkness last month.
Even so, the oil giant probably returned to profit after four straight losses. Rebounding oil and natural gas prices increased earnings by as much as $2.7 billion while improved refining and chemical margins added up to $1.1 billion, the Irving, Texas-based company said Wednesday in a filing.
The Arctic blast in Texas wreaked havoc on gas and power markets, minting winners and losers among energy suppliers. Electricity retailers including Just Energy Group Inc. and Griddy Energy LLC declared bankruptcy, while oil producer California Resources Corp. said its gas trading business generated a profit as a result of the storm.
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