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Carbon Dioxide Pipeline

All articles tagged with #carbon dioxide pipeline

energy-and-environment2 years ago

Summit Carbon's Pipeline Permit Denied by North Dakota

Summit Carbon Solutions has been denied a permit to construct its proposed carbon dioxide pipeline in North Dakota. The state's Public Service Commission unanimously ruled that the company failed to demonstrate that the project would minimize adverse impacts on the welfare of North Dakota citizens. Summit can appeal the decision or submit a new application with a revised proposal. The $5 billion project aims to transport captured carbon dioxide from ethanol plants to North Dakota for underground sequestration. Opponents argue that the pipelines will prolong the use of fossil fuels and infringe on landowners' property rights.

business2 years ago

Exxon's $4.9 Billion Acquisition of Denbury

Exxon Mobil has announced its plans to acquire Denbury in an all-stock deal worth $4.9 billion, providing the oil giant with access to the largest carbon dioxide pipeline network in the United States. Denbury specializes in using carbon dioxide to extract oil from old wells, making it an attractive asset for oil majors looking to invest in ESG strategies. Exxon aims to reduce its operational emissions by 2050 and plans to develop technologies such as carbon capture and storage. The deal is expected to close in the fourth quarter and represents a premium of 1.9% to Denbury's last close.