ExxonMobil acquired the rights to 120,000 gross acres of the Smackover Formation in southern Arkansas earlier this year.
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Europe is Slowly but Surely Weaning Itself from Russian Natural Gas
Russian natural gas exports sent via pipeline will fall by 21 billion cubic meters this year — a six-fold drop from 2021 — according to the Russian state bank.
Amazon, ExxonMobil, EQT Among Companies to Get Hydrogen Hub Money
Altogether, the Biden Administration wants to build seven hydrogen hubs to eliminate 25 million metric tons of CO2 each year — equal to removing 5.5 million gasoline-powered cars. It’s a $50 billion investment in clean energy that spans across multiple states.
United States Invests $7 Billion Toward Hydrogen Hub Projects
The hubs are expected to produce 3 million metric tons of hydrogen each year, reducing 25 million metric tons of carbon emissions.
ExxonMobil Buys Pioneer Natural Resources for $59.5 Billion
As a part of the merger, ExxonMobil plans to accelerate Pioneer’s greenhouse gas reduction plans by 15 years, creating a net zero Scope 1 and 2 emissions target of 2035.
Tellurian Delays LNG Plant but Global Manufacturers are Hungry for the Fuel
Tellurian wants three more years to get its Louisiana-based Driftwood LNG plant online and its associated natural gas pipeline. It said it has to line up corporate contracts worldwide.
With Decarbonization Pressures Mounting, Oil Companies Step Up
The demand for fossil fuels must fall by 25% by 2030 if the global community is to meet its targets under the Paris Climate Agreement. That’s what the International Energy Agency said, which notes oil and gas demand must drop by 80% by 2050. The IEA published its...
Pactiv Evergreen, ExxonMobil Provide Circular Packaging for Foodservice Providers
Pactiv Evergreen will convert polypropylene (PP), provided by ExxonMobil, into food packaging that is Sustainability and Carbon Certification Plus certified-circular.
Honeywell, SK E&S Collaborate on Carbon Capture Technology
The collaboration includes deploying Honeywell UOP’s Advanced Solvent Carbon Capture system at a SK E&S natural gas power plant.
Milestone Carbon Unveils Development of Carbon Sequestration Hub
Overall, Milestone Carbon predicts the Midland Basin hub could store approximately 30 million metric tons of carbon dioxide over its life.