Shell to explore CCS in China with ExxonMobil and Cnooc
The three oil firms have partnered with the provincial government of Guangdong to assess options for a 10mn t/yr CCS hub in Daya Bay
Shell has signed a memorandum of understanding with ExxonMobil, Chinese oil giant Cnooc and the Chinese provincial government of Guangdong to explore the development of an offshore carbon capture and storage (CCS) hub. The hub will be located in the existing petrochemical industrial cluster at Daya Bay in Guangdong, and could capture up to 10mn t/yr of CO2. The partners are to conduct a joint study to assess the technology and develop a commercial model for the project, as well as working with the government to develop enabling policies. “The surging demand for CCS in China provides Shell with a substantial opportunity to grow its sectoral decarbonisation business,” said Anna Mascolo, execut

Also in this section
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
3 July 2025
European Commission introduces new flexibilities for member states to ease compliance with headline goal
1 July 2025
Supportive government policy, deforestation threat and economic opportunity drive forward the region’s monetisation of forest carbon