Stock Market News

ExxonMobil inks deal with Indonesia for low-emission petrochemicals

2023.11.20 04:24


© Reuters.

Today, ExxonMobil (NYSE:) and Indonesia strengthened their partnership by signing a Memorandum of Understanding (MoU) to construct a new low-emission petrochemical complex. This collaboration is aimed at producing high-quality polymers while implementing Carbon Capture and Storage (CCS) using geological formations beneath the Java Sea.

The agreement is an expansion of the existing relationship between ExxonMobil and Indonesia’s state-owned energy company Pertamina. The updated principal agreement, initially established in 2021, is set to further develop a significant CCS hub in the northwestern Java Sea. This hub will play a crucial role in capturing and managing CO2 emissions from regional industries, marking a significant step towards reducing environmental impact.

The initiative aligns with global efforts to tackle climate change by lowering greenhouse gas emissions from industrial activities. By focusing on the development of high-quality polymer products, the project also aims to meet the growing demand for advanced materials that support sustainability.

The collaboration between ExxonMobil and Indonesia demonstrates a shared commitment to environmental stewardship and innovation in energy production. With the Java Sea’s geological storage capabilities, this venture is poised to become a model for integrating economic growth with climate-conscious practices in the petrochemical industry.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 81,934.95 3.08%
ethereum
Ethereum (ETH) $ 1,890.78 3.02%
tether
Tether (USDT) $ 0.999933 0.02%
xrp
XRP (XRP) $ 2.25 5.11%
bnb
BNB (BNB) $ 634.21 1.07%
solana
Solana (SOL) $ 124.21 4.31%
usd-coin
USDC (USDC) $ 1.00 0.01%
cardano
Cardano (ADA) $ 0.692935 4.63%
dogecoin
Dogecoin (DOGE) $ 0.165385 5.86%
tron
TRON (TRX) $ 0.228161 3.76%
staked-ether
Lido Staked Ether (STETH) $ 1,888.93 2.93%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 81,687.89 3.16%
the-open-network
Toncoin (TON) $ 3.63 3.86%
leo-token
LEO Token (LEO) $ 9.73 0.73%
chainlink
Chainlink (LINK) $ 13.58 3.99%
usds
USDS (USDS) $ 0.999912 0.02%
stellar
Stellar (XLM) $ 0.269204 2.65%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,259.84 3.14%
pi-network
Pi Network (PI) $ 1.13 15.62%
hedera-hashgraph
Hedera (HBAR) $ 0.184846 4.91%
avalanche-2
Avalanche (AVAX) $ 18.46 2.80%
shiba-inu
Shiba Inu (SHIB) $ 0.000012 5.78%
sui
Sui (SUI) $ 2.26 4.65%
mantra-dao
MANTRA (OM) $ 6.92 0.74%
litecoin
Litecoin (LTC) $ 88.22 5.97%
bitcoin-cash
Bitcoin Cash (BCH) $ 331.48 3.02%
polkadot
Polkadot (DOT) $ 4.33 2.14%
bitget-token
Bitget Token (BGB) $ 4.57 2.99%
ethena-usde
Ethena USDe (USDE) $ 0.999477 0.04%
weth
WETH (WETH) $ 1,890.63 3.01%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.03%
hyperliquid
Hyperliquid (HYPE) $ 13.42 1.32%
whitebit
WhiteBIT Coin (WBT) $ 28.20 1.09%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,008.36 2.99%
monero
Monero (XMR) $ 206.16 2.59%
uniswap
Uniswap (UNI) $ 6.17 3.14%
susds
sUSDS (SUSDS) $ 1.05 0.12%
dai
Dai (DAI) $ 0.99977 0.04%
aptos
Aptos (APT) $ 5.26 2.98%
okb
OKB (OKB) $ 50.46 0.18%
near
NEAR Protocol (NEAR) $ 2.53 5.68%
pepe
Pepe (PEPE) $ 0.000007 9.34%
mantle
Mantle (MNT) $ 0.805774 2.57%
internet-computer
Internet Computer (ICP) $ 5.67 5.61%
gatechain-token
Gate (GT) $ 21.59 1.77%
tokenize-xchange
Tokenize Xchange (TKX) $ 32.90 0.13%
ethereum-classic
Ethereum Classic (ETC) $ 17.36 3.79%
ondo-finance
Ondo (ONDO) $ 0.81622 7.41%
aave
Aave (AAVE) $ 167.27 5.12%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 81,852.93 3.16%