The global development and uptake of the abatement technology have not been as quick or extensive as many expected. As big emitters and users of CO2, the world’s international oil companies (IOCs) have an obvious role to play. But with many IOCs rowing back on their low-carbon spending and refocusing on hydrocarbons, many of their carbon capture ad storage (CCS) projects have withered on the vine or have been canceled. Below, we look at the status of some of the big IOC-linked CCS initiatives around the globe.
Weak CO2 Storage Demand, Refocus on Oil Hit IOCs' CCS Plans
Factors including disappointing demand for CO2 storage and investor pressure for higher returns have seen many IOCs quit, sell down or pause big CCS projects.
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