MOSCOW (MRC) -- ExxonMobil on Monday announced a plan to reduce greenhouse gas (GHG) emissions from its operations to reach net-zero emissions by 2030 in its Permian Basin operations, said the company.
The company will eliminate routine flaring in the Permian Basin by the end of 2022, invest in electrification of operations in New Mexico and Texas to include low-carbon power sources and accelerate its methane-monitoring system to reduce flaring. The company plans to reduce Permian Basin flaring volumes by more than 75%, compared with 2019 flaring volumes, by the end of 2021. And this year, the company is expected to show a reduction of about 15-20% in GHG intensity from upstream operations, compared with 2016 levels.
The Permian Basin operations account for more than 40% of the company’s US net production, producing an average of 500,000 barrels of oil equivalent/day (boe/day). ExxonMobil plans to reduce carbon dioxide (CO2) intensity across its businesses by deploying technology that the company said is “foundational”.
To achieve GHG emission-reduction efforts, ExxonMobil will continue investments in methane mitigation and detection technology, upgrading equipment and employing emissions-offset technology. The company plans to use low-carbon power to electrify its operations, which may include wind, solar, hydrogen and natural gas with carbon capture and storage (CCS). It will also use methane-detection programmes utilising satellite surveillance and a network of ground-based sensors for continuous monitoring and aerial flyovers.
As per MRC, ExxonMobil Chemical has acquired California-based Materia for an undisclosed sum. Materia makes thermoset resins based on dicyclopentadiene (DCPD). They are designed to be alternatives to epoxy resins, vinyl ester resins and unsaturated polyester resins (UPR). The materials can be used in a number of applications, including wind turbine blades, electric vehicle parts, sustainable construction, and anticorrosive coatings.
ExxonMobil and SABIC have announced that their joint venture, Gulf Coast Growth Ventures located near Corpus Christi, Texas, has reached mechanical completion of a monoethylene glycol (MEG) unit and two polyethylene (PE) units. Project startup is expected to begin ahead of schedule, likely in the fourth quarter of 2021.
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,868,160 tonnes in the first nine months of 2021, up by 18% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 1,138,510 tonnes in January-September 2021, up by 30% year on year. Supply of propylene homopolymer (homopolymer PP) and block-copolymers of propylene (PP block copolymers) increased, whereas supply of injection moulding statistical copolymers of propylene (PP random copolymers) decreased significantly.
ExxonMobil is the largest non-government owned company in the energy industry and produces about 3% of the world's oil and about 2% of the world's energy.
MRC