Oil Giants Plan to Bury Massive Amounts of CO2 in Southeast Asia [Financial Post (Toronto, Ontario, Canada)]
Exxon Mobil Corporation (XOM)
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Source: Financial Post
You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Just as they first ventured to do over a century ago, the world's largest oil companies are staking claims far from home — this time to swallow, rather than spew, planet-warming industrial emissions. Carbon dioxide storage is emerging as a potential multi-billion-dollar revenue stream for firms like Exxon Mobil Corp., Shell Plc and Chevron Corp., which are under global pressure to rein in the unfettered burning of fossil fuels. Article content Article content In Asia, which will generate the majority of this century's carbon emissions, Indonesia and Malaysia are among the few places where CO2, once captured, can be viably stored underground. With the cash, decades of experience injecting carbon for the purposes of pumping extra oil, and an increasing number of depleted wells that can be refilled, oil companies are already jockeying for position. Exxon Mobil Chief Exec
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News
- Exxon is working on tech to remove CO2 from atmosphere but a breakthrough is needed to slash costs [MSNBC.com]MSNBC.com
- Why ExxonMobil Stock Dropped on Earnings Friday [Yahoo! Finance]Yahoo! Finance
- Exxon Mobil and Chevron Report Lower Earnings [The New York Times]The New York Times
- Crude awakening: oil price rallies against backdrop of energy company earnings this week [BNN Bloomberg (Canada)]BNN Bloomberg
- Exxon and gas markets tell different stories [Reuters]Reuters
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