ExxonMobil secures largest U.S. offshore CO2 storage lease in Texas for emission reduction.

ExxonMobil has secured the largest offshore carbon dioxide (CO2) storage lease in the U.S., covering over 271,000 acres in Texas state waters. This agreement allows the company to inject CO2 into geological formations beneath the Gulf of Mexico. The initiative aims to capture 6.7 million tons of CO2 annually from industrial sources, supporting emission reduction efforts. The lease will also benefit Texas public education through the Texas Permanent School Fund.

October 10, 2024
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