ExxonMobil is expanding in CCS
ExxonMobil boosts CCS portfolio with $4.9b Denbury deal
Acquisition of Texas-based independent gives oil major largest US CO₂ pipeline network and ten onshore storage sites
ExxonMobil has accelerated its expansion into CCS with a $4.9b deal to acquire US independent energy company Denbury, one of the country’s fastest-growing operators in the carbon management sector. The acquisition, which is expected to close in the fourth quarter, provides ExxonMobil with the largest owned and operated CO₂ pipeline network in the US as well as ten strategically located onshore sequestration sites. The pipeline network includes 952 miles of CO₂ lines in Louisiana, Texas and Mississippi—one of the largest US markets for emissions. “Acquiring Denbury reflects our determination to profitably grow our Low Carbon Solutions business by serving a range of hard-to-decarbonise industr
Also in this section
22 July 2025
Sinopec hosts launch of global sharing platform as Beijing looks to draw on international investors and expertise
22 July 2025
Africa’s most populous nation puts cap-and-trade and voluntary markets at the centre of its emerging strategy to achieve net zero by 2060
17 July 2025
Oil and gas companies will face penalties if they fail to reach the EU’s binding CO₂ injection targets for 2030, but they could also risk building underused and unprofitable CCS infrastructure
9 July 2025
Latin American country plans a cap-and-trade system and supports the scale-up of CCS as it prepares to host COP30
