PETRONAS’ technology commercialisation arm, PETRONAS Technology Ventures Sdn Bhd (PTVSB) has entered into a strategic collaboration with Aerodyne Oil and Gas Sdn Bhd, a subsidiary of Aerodyne Group, to explore opportunities for deployment and commercialisation of drone-based solutions. The collaboration marks another significant step forward in PETRONAS’ sustainability journey. It is set to elevate the…
CERAWEEK: Petroleum sector looks to build on carbon capture for more ‘carbon-neutral’ oil
The global oil industry aims to lean more on carbon capture, utilization and storage technologies as it seeks to deliver more “carbon-neutral” crude oil shipments in order to emerge as more of an ally within the ongoing energy transition, industry experts said March 1 on the opening day of CERAWeek by IHS Markit 2021.
Major Permian Basin producer Occidental Petroleum is the industry leader in using carbon dioxide for enhanced oil recovery in its wells, and Oxy said on Feb. 1 it made the first “carbon-neutral” major petroleum shipment when it sent 2 million barrels of crude to Reliance Industries in India from the US Gulf Coast. But this is just a first step and much more progress is needed to turn around global carbon emissions, officials said at the conference.