Acquiring Plano-based Denbury Inc. in a $4.9 billion deal gives Exxon Mobil even greater scale in carbon capture, utilization and storage (CCUS) a major pillar of the U.S. supermajor’s low-carbon strategy.
Carbon capture is the centerpiece of Exxon’s climate-related efforts primarily because unlike renewable energy, which competes with oil and gas, capturing carbon complements Exxon’s core business and thereby may extend its lifespan. Its $4.9 billion acquisition of Denbury Inc is also useful for the Inflation Reduction Act’s carbon capture credits, which effectively provide Exxon with extremely patient venture capital
PART 2 - Smoking Guns: Nord Stream Sabotage Secret Teams Revealed 21stcenturywire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from 21stcenturywire.com Daily Mail and Mail on Sunday newspapers.
Denbury acquires carbon-storage land in the South, Baker Hughes forms a new wells consortium, and Chevron and BP expand their investments. Hydrogen takes center stage across the globe, while the international energy transition makes strides toward its goals.
Denbury (DEN) and Weyerhaeuser (WY) Announce Agreement for CO2 Sequestration Site in Mississippi streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.