Latest news with #lowcarbonhydrogen
Khaleej Times
08-07-2025
- Business
- Khaleej Times
Adnoc to raise low-carbon hydrogen portfolio capacity to 1m tonnes per annum by 2030
Adnoc aims to increase its low-carbon hydrogen portfolio capacity to one million tonnes per annum (mtpa) by 2030, the UAE energy major announced on Tuesday. The details were revealed in Adnoc's 2024 Sustainability Report, which details the company's ESG initiatives and successes over the past year. Adnoc's Ruwais LNG project, set to commence operations in 2028, is projected to have a capacity of 9.6 mtpa, with 8 million tonnes already committed to international buyers. This facility will be powered by clean energy, positioning it as one of the world's lowest-carbon intensity LNG plants. Through its shareholding in Masdar, Adnoc has invested in 51 gigawatts of renewable energy capacity globally and targets 100GW of renewable energy capacity by 2030. Adnoc's Shah Oil Field has achieved an industry-leading carbon intensity of 0.1 kg CO₂ emission per barrels of oil equivalent, a benchmark among global oil fields. 'This milestone exemplifies Adnoc's leadership in sustainable energy production and reinforces its position as one of the world's lowest carbon-intensive oil and gas producers,' Adnoc said in a statement. 'Technology is essential to Adnoc's journey towards net zero, and this milestone at Shah demonstrates our commitment to sustainability and innovation. By leveraging advanced solutions including AI, digitalization, remote operations and predictive data analytics, we are optimizing operational performance while significantly reducing emissions, reinforcing our position as a provider of some of the world's least carbon-intensive oil and gas. We will continue to innovate to decarbonize our operations and futureproof our business while supporting a reliable energy supply to meet global demand,' said Musabbeh Al Kaabi, CEO of Adnoc Upstream. Adnoc maintained its industry-leading upstream carbon intensity of 7kg of carbon dioxide per barrel of oil equivalent and achieved a significant reduction in its operational emissions of 6.6 million tonnes carbon dioxide equivalent. The company continued to advance its methane monitoring and reduction efforts, achieving a 22% decrease in methane emissions compared to 2023, the reprt said. Adnoc returned $14.9 billion (Dh55.0 billion) to the UAE economy in 2024. Additionally, $19.6 billion (Dh72.3 billion) worth of products in its procurement pipeline were locally manufactured. The company created 7,000 new jobs for Emirati in the private sector, bringing the total number of jobs created to 18,500 since 2018. The company achieved 22% reduction in methane emissions compared to 2023 and realized savings of $220 million (Dh808 million) from emission reduction initiatives, according to the report. In response to the rising global demand for energy, Adnoc is expanding its portfolio of lower-carbon solutions, including renewables, CCUS, low-carbon hydrogen and low-carbon ammonia. 'Our strategy focuses on enabling our customers to diversify their energy mix and meet their decarbonization goals. These efforts to deliver scalable and commercially viable solutions are central to our ambition to deliver secure, affordable and sustainable energy. Our efforts are supported through strategic partnerships and innovation,' Adnoc said.
Yahoo
05-07-2025
- Business
- Yahoo
Linde Stock Holds Price Target as UBS Highlights AI, Hydrogen, and Growth Sectors
Linde plc (NASDAQ:LIN) ranks among the best set-it-and-forget-it stocks to buy. On June 27, UBS maintained its $485 price target and Neutral rating on Linde plc (NASDAQ:LIN) following the industrial gas company's recent investor event, which focused on its investments in low-carbon hydrogen, the use of artificial intelligence, and technology investments aimed at faster-growing markets like the food, electronics, and aerospace sectors. Throughout the presentation, Linde plc (NASDAQ:LIN) management stressed safety and dependability procedures that boost productivity, according to UBS. A tour of the company's Clear Lake facility also highlighted five years of operational lessons learned from operating an autothermal reformer, of which there are about 30 across the globe. UBS emphasized that Linde plc (NASDAQ:LIN) is well-positioned for future project opportunities due to its network of gas production, pipelines, and storage throughout the US Gulf Coast, which includes the largest hydrogen cavern in the region. Linde plc (NASDAQ:LIN) is a global engineering and industrial gases company that generates and delivers process gases, including carbon dioxide and hydrogen, as well as related equipment and technologies. While we acknowledge the potential of LIN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. Read More: and Disclosure: None.
Reuters
07-05-2025
- Business
- Reuters
Exxon agrees to supply Japan's Marubeni with low-carbon ammonia
HOUSTON, May 7 (Reuters) - Exxon Mobil (XOM.N), opens new tab has signed a long-term agreement to supply 250,000 metric tons of low-carbon ammonia annually to Japanese trading house Marubeni (8002.T), opens new tab, the U.S. oil producer said on Wednesday, representing Exxon's first signed customer agreement for its planned hydrogen facility in Baytown, Texas. The agreement is a step forward in Exxon's effort to build the world's largest low-carbon hydrogen facility at its Baytown refining and chemical complex, which has experienced delays. here. Hydrogen, which can be produced from natural gas, is a clean fuel that produces water when it is burned, while ammonia can be used as a carrier for hydrogen, allowing it to be shipped in liquid form. Carbon dioxide from the production of hydrogen will be captured and stored underground, the company said. "This is another positive step forward for our landmark project,' said Barry Engle, president of low carbon solutions at Exxon, in a statement. The customer agreement with Marubeni is contingent on whether Exxon makes its final investment decision to move forward with the Baytown hydrogen facility. Exxon said it expects to make that decision this year, which depends on favorable government policy and regulatory permits. Marubeni will also take an equity stake in Exxon's Baytown hydrogen facility, the companies said. An Exxon spokesperson declined to specify the percentage of the stake.
