BP in line to receive funding to support the development of a large-scale carbon storage hub
US government backs BP’s Whiting storage project
DOE offers $98m to CO₂ storage project centred on oil major’s largest refinery
Oil major BP is in line to receive funding of $98m from the US government to support the development of a large-scale carbon storage hub around its Whiting refinery in Lake County, Indiana. Whiting is the largest refinery in the US Midwest and BP’s largest anywhere in the world, with a daily throughput of c.440,000bl of crude. The funding, which is subject to negotiation with the Department of Energy (DOE), forms part of a new support package totalling more than $444m, aimed at accelerating the development of the US carbon management sector. BP’s project, called Crossroads, is focused on the appraisal of potential storage facilities to decarbonise northern Indiana, northeastern Illinois, and
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
Recent project approvals have yielded millions of carbon credits linked to the plugging of the US' abandoned wells
