ExxonMobil launches Low Carbon Solutions business
Major aims to commercialise emission-reduction technology, with an initial focus on extending its involvement in CCS
ExxonMobil is to launch a new business to commercialise and deploy low-carbon technology with an initial focus on advancing plans for more than 20 new carbon capture and storage (CCS) projects, it announced yesterday. ExxonMobil Low Carbon Solutions will focus on CCS facilities—which are widely seen as being critical to hitting Paris Agreement targets—to enable large-scale emission reductions around the world. The major plans to invest $3bn on lower-emission energy solutions in the next five years. “With our demonstrated leadership in carbon capture and emissions reduction technologies, ExxonMobil is committed to meeting the demand for affordable energy while reducing emissions and managing
Also in this section
1 May 2024
Abundant storage and low cost of capturing CO₂ from sharply rising gas production mean NOC’s ambitious CCUS targets look well within reach
29 April 2024
Decarbonisation push and shifting multilateral trade policy sharpens continent’s need for carbon trading
29 April 2024
Canada’s oil sands producers need policy certainty to make the multibillion-dollar investments needed to achieve net zero, Pathways Alliance president Kendall Dilling tells Carbon Economist
25 April 2024
Carbon capture rates forecast to rise steadily from end of decade, but policy tools to drive large-scale deployment have yet to take shape, according to DNV