ExxonMobil is expanding in CCS
ExxonMobil boosts CCS portfolio with $4.9b Denbury deal
Acquisition of Texas-based independent gives oil major largest US CO₂ pipeline network and ten onshore storage sites
ExxonMobil has accelerated its expansion into CCS with a $4.9b deal to acquire US independent energy company Denbury, one of the country’s fastest-growing operators in the carbon management sector. The acquisition, which is expected to close in the fourth quarter, provides ExxonMobil with the largest owned and operated CO₂ pipeline network in the US as well as ten strategically located onshore sequestration sites. The pipeline network includes 952 miles of CO₂ lines in Louisiana, Texas and Mississippi—one of the largest US markets for emissions. “Acquiring Denbury reflects our determination to profitably grow our Low Carbon Solutions business by serving a range of hard-to-decarbonise industr
Also in this section
14 January 2025
Bioenergy will be a key part of the energy transition as the world decarbonises, and Brazil is set to be a major player in the sector
14 January 2025
The region has ample resources of both gas and renewable energy and developing both will be vital to the global effort to reduce emissions
13 January 2025
The region’s fast-growing economies stand at a pivotal juncture, with the opportunity to drive a sustainable growth strategy that will keep the world’s net-zero ambitions alive
10 January 2025
Global energy demand keeps rising, and digital technology will play a crucial role in both meeting that demand and doing so in a sustainable way
