The latest edition of PetroMall Insights is here!
There is growing public and governmental demand for less CO2 emissions to the atmosphere. Oil and gas companies have the technical and financial capability to put CO2 into the subsurface. But they aren't doing it. How can this be fixed?
Oil companies say that governments should make higher carbon prices or taxes. But governments are reluctant to impose higher energy costs on their voters.
Governments say that international / western oil companies should pay for CO2 capture and storage themselves. But the companies are reluctant to increase their costs of production above those of their national oil company competitors.
New pathways are needed. Our Petromall Insights report, available for free download today, explores what they might be.
• Should western / international oil companies bow to increasing pressure from shareholders, employees, as well as regulators, to cover the costs of CCS (carbon capture and storage) themselves?
• Can governments create more sophisticated incentives to commercialise CCS without directly increasing costs to voters?
• Can we use the CO2 for enhanced oil recovery (EOR) and generate revenues to pay for CCS, as in the US? We look specifically at India EOR and enhanced coal bed methane recovery, and EOR in Trinidad, and the North Sea
• Is the way forward a hub solution, involving multiple CO2 emitters, pipeline operators and storage companies, paid by private investment, with suitable government support and innovative engineering? We look at what is happening in Rotterdam
• Can the UK cluster solution in the UK work, based around Scotland, Teesside, Humberside, South Wales, and Merseyside.
• Is the Norwegian model the right one, with substantial state funding for an initial project
• Are we looking at CO2 capture in the right way? And is CO2 utilisation and air capture nothing more than a distraction?
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