OXY - American Oil Giant Partners With Fertilizer Company on Emissions Reduction Project
One of the largest international oil and gas companies Exxon Mobil just signed a landmark commercial agreement with CF Industries to capture and permanently store up to 2 million metric tons per year of CO 2 emissions annually. The largest-of-its-kind carbon capture and storage (CCS) agreement will see CF Industries invest $200 million to build a CO 2 dehydration and compression unit at its Louisiana facility and Exxon will then transport and permanently store the captured CO 2 in secure geologic storage. CF intends to be first-to-market with up to 1.7 million tons of blue ammonia, a low-carbon fuel used across industrial applications like transportation, power generation and industries such as steel, cement and fertilizer production. Of course, this isn’t the only oil and gas company getting actively involved in CCS projects to rapidly and effectively reduce CO2 emissions beyond alternative methods like electrification and renewable fuels, creating a growing opportunity for companies like Pond Technologies ( TSXV:POND ) ( OTCQB:PNDHF ) , NRG Energy ( NYSE:NRG ) , Occidental Petroleum ( NYSE:OXY ) , Fluor Corporation ( NYSE:FLR ) ,
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