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https://www.ibtimes.com/exxonmobil-touts-carbon-storage-key-climate-strategy-3155576

ExxonMobil Touts Carbon Storage As Key Climate Strategy

2021-03-03 04:41:06, /reporters, AFP, About Us

Content Categorization
/Business & Industrial/Energy & Utilities/Oil & Gas
/News/Business News

Word Count:
431

Words/Sentence:
25

Reading Time:
4.31 min

Reading Quality:
Advanced

Readability:
16th or higher

Media Sentiment
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ExxonMobil announced a 2021 capital budget of between $16 and $19 billion, with heavy oil and gas upsteam investments in the United States' Permian Basin as well as in Guyana and Brazil.

We are fully committed to growing shareholder value by meeting the world's energy demands today and pursuing a technology-driven strategy to succeed through the energy transition," Woods said in a statement.

ExxonMobil outlined Wednesday a "lower-carbon" future involving both significant carbon capture and storage (CCS) technology and continued fossil fuel use in a plan that looked unlikely to fully satisfy environmental critics.

But much of its slide presentation focused on climate mitigation, particularly CCS, which captures emissions from industrial sources including refineries and chemical plants and injects them deep into geologic formations for permanent storage.

The ExxonMobil event comes amid shifting US political dynamics on climate change, with the United States rejoining the Paris climate agreement and Congress refocusing on the topic after it was depriortized under former president Donald Trump.

Keywords
climate, touts, storage, strategy, key, exxonmobil, carbon

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