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2 clusters · 4 sources · 4 days · First seen · Last updated

ExxonMobil Rose carbon-capture project approval

Overview

The Texas Railroad Commission has approved a permit for ExxonMobil’s Rose carbon-capture and storage (CCS) project in East Texas. In a 2-1 vote, commissioners authorized the company to inject industrial carbon dioxide into underground rock formations in the Beaumont-Port Arthur area.

The project, valued at approximately $5 billion, aims to inject roughly 4 million metric tons of CO2 annually into the Fleming and Upper Frio formations over a 13-year period. This initiative follows ExxonMobil’s 2023 acquisition of Denbury, which expanded its CO2 pipeline network. While company executives described the decision as a “major milestone” for lower-carbon products, critics have questioned the use of taxpayer subsidies and noted that the project’s scale represents only about “one-hundredth of one percent” of global emissions during the same timeframe.

Entities

ExxonMobil · Environmental Protection Agency · Gulf Coast · Texas Railroad Commission · Railroad Commission of Texas

Timeline

  1. 2 days ago

    [BUSINESS] 2 sources
    ExxonMobil receives approval for $5B Texas carbon capture project

    The Texas Railroad Commission approved ExxonMobil’s $5 billion carbon capture and storage project in East Texas, enabling the injection of millions of metric tons of CO2 into underground wells.

  2. 6 days ago

    [BUSINESS] 2 sources
    ExxonMobil receives Texas approval for Rose carbon-capture project

    The Texas Railroad Commission approved ExxonMobil’s Rose carbon-capture project, allowing the injection of 53 million metric tons of CO2 underground over 13 years in Jefferson County.

Sources

freerepublic.com · houston.innovationmap.com · kleanindustries.com · usaherald.com