Carbon

Chevron Hikes Capex by 20%, Driven by U.S. Upstream, Downstream

Chevron Hikes Capex by 20%, Driven by U.S. Upstream, Downstream

Chevron Corp. expects to spend 20% more in 2022 on capital and exploratory efforts than it did this year to support “higher returns and low carbon” efforts, the supermajor said. Organic capital expenditures (capex) in the coming year are set at $15 billion, at the low end of its $15-17 billion initial budget plan but…

December 2, 2021

Carbon Prices Hit Record in Europe — The Offtake

A roundup of news and commentary from NGI’s LNG Insight European carbon prices hit record highs this week. The allowances purchased by the power and manufacturing sectors for emissions closed at 69.32 euros/metric ton ($78.25) on Friday.  Stronger gas prices, colder weather and rules for an international carbon market reached at COP26 have all prompted…

November 19, 2021
Tellurian Chief Sees ‘Different Pathways, Timelines’ to Advance Next Phases of Driftwood LNG

Tellurian Chief Sees ‘Different Pathways, Timelines’ to Advance Next Phases of Driftwood LNG

Tellurian Inc. is in no hurry to sell all of the 27 million metric tons/year (mmty) of liquefied natural gas (LNG) capacity from the proposed Driftwood export project in Louisiana even though there’s an opportunity to do so, according to CEO Octávio Simões. The company has agreed to supply 9 mmty of LNG from the…

November 12, 2021
New York Denies Permits for Two Natural Gas Power Plants, Citing Incompatibility with Climate Goals

New York Denies Permits for Two Natural Gas Power Plants, Citing Incompatibility with Climate Goals

New York environmental regulators last week announced they had denied required air permits for two proposed natural gas-fired power plants as the projects did not align with the state’s environmental goals. Department of Environmental Conservation (DEC) Commissioner Basil Seggos said the 437 MW Astoria Replacement Project and the 536 MW Danskammer Energy Center project do…

November 1, 2021
ExxonMobil Bidding to Advance CCS Expansion at Wyoming’s LaBarge Natural Gas Facility

ExxonMobil Bidding to Advance CCS Expansion at Wyoming’s LaBarge Natural Gas Facility

Bids to secure engineering, procurement and construction contracts for a carbon capture and storage (CCS) expansion at the LaBarge natural gas facility in Wyoming are advancing, ExxonMobil said Thursday. LaBarge to date has captured an estimated 6-7 million metric tons (mmt) of carbon dioxide (CO2), making it the largest project of its kind in the…

October 22, 2021
Chevron Updates 2050 Net-Zero Targets, Sees Australian LNG a Keeper Longer Term

Chevron Updates 2050 Net-Zero Targets, Sees Australian LNG a Keeper Longer Term

Chevron Corp. is aiming by 2050 to reach net-zero carbon in its equity upstream operations, with more capital set to be poured into alternative energies and improved efficiencies across the traditional global oil and natural gas businesses. The San Ramon, CA-based integrated major has adopted a net-zero pledge within 30 years for Scope 1 (direct)…

October 12, 2021
Sproule Sees CCUS Driving ‘Tremendous’ Growth as Carbon Prices Climb

Sproule Sees CCUS Driving ‘Tremendous’ Growth as Carbon Prices Climb

Underground carbon disposal has to increase 172-fold to hit the global greenhouse gas (GHG) cleanup target set by the International Energy Agency (IEA), according to an industry review by consulting firm Sproule Associates. The role for carbon capture, utilization and storage (CCUS) as outlined by IEA in August, spells “tremendous growth and revenue generation,” said…

October 8, 2021
Chevron, Enterprise Exploring Carbon Capture Opportunities for Gulf Coast, Midcontinent

Chevron, Enterprise Exploring Carbon Capture Opportunities for Gulf Coast, Midcontinent

Chevron Corp. and Enterprise Products Partners LP are evaluating possible projects to store carbon emissions from their U.S. business operations in the Midcontinent and on the Gulf Coast. Chevron U.S.A. Inc., through its Chevron New Energies division, has a framework in place with a subsidiary of Houston-based Enterprise to evaluate opportunities to store carbon dioxide…

September 13, 2021
ExxonMobil Launches Certification Pilot with MiQ for Permian Natural Gas

ExxonMobil Launches Certification Pilot with MiQ for Permian Natural Gas

ExxonMobil is wading into the certified natural gas game, partnering with nonprofit MiQ for natural gas produced at its Poker Lake, NM, facility in the Permian Basin. About 200 MMcf/d from Poker Lake would be assessed and certified by MiQ, ExxonMobil said Tuesday. The certified natural gas, sometimes referred to as responsibly sourced gas, could…

September 7, 2021
Houston Looking to Hold Title as Nation’s Energy Capital with Low-Carbon Tech Growth, 500,000-Plus Jobs

Houston Looking to Hold Title as Nation’s Energy Capital with Low-Carbon Tech Growth, 500,000-Plus Jobs

Houston, the acknowledged energy capital of the United States, can lure substantial investments and create thousands of jobs by stepping up to lead the transition to a low-carbon future, top city leaders said this week. The Greater Houston Partnership on Tuesday unveiled a bold strategy for the fourth largest city in the country. In kicking…

June 30, 2021
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