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#1
Carbon capture was spruiked as a way of limiting our emissions – but has Australia been greenwashed?
#1 out of 286.56%
business2h ago

Carbon capture was spruiked as a way of limiting our emissions – but has Australia been greenwashed?

  • Latest data show Gorgon CCS injection rates fell from 1.72m tonnes to 1.33m tonnes in the latest reporting year.
  • Experts say CCS remains a marginal technology and not a climate solution, challenging its scalability.
  • The Guardian reports government backing for CCS persists, with projects like Gorgon and Moomba receiving federal support.
  • Chevron says the issue lies in reservoir pressure management rather than CCS technology itself.
  • Imperial College London researchers note CCS has stored only a tiny fraction of emissions since 1996.
  • Analyst Kevin Morrison says the Gorgon project is now less effective and may undermine CCS viability.
  • The article mentions Bonaparte, Moomba, and Inpex as part of Australia’s CCS landscape.
  • Green groups and academics argue CCS should not be treated as the sole climate solution.
  • The Global CCS Institute notes 77 CCS projects are in operation worldwide, with many for enhanced oil recovery.
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#2
Key facts: Chevron signs gas supply deal; Mizuho raises price target
#2 out of 2
business1d ago

Key facts: Chevron signs gas supply deal; Mizuho raises price target

  • Chevron signs a five-year gas supply deal to feed the Kesem power plant with 800 million cubic meters annually.
  • Mizuho raises Chevron price target to $206 per share, up from $204.
  • The deal is tied to a financing plan worth €1.18 billion, supporting the gas supply.
  • Chevron is described as the only major U.S. firm with Venezuelan joint ventures showing potential for oil production gains.
  • Despite potential gains, substantial investments and stability are required for meaningful increases.
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