The Carbon Capture Boom Is Starting to Crack
Russia's Biggest Black Sea Oil Port Goes Quiet as Drone Threat Grows Felicity Bradstock is a writer and journalist based in Mexico City.
She writes for energy websites and covers several other industries, as well as writing… Carbon capture and storage (CCS) technology grew in popularity during the Covid-19 pandemic as several governments and private companies pledged to support a green transition.
The use of CCS was expected to help decarbonise hard-to-abate industries until a long-term transition to clean energy could be achieved.
However, in recent years, many have become more sceptical about the effectiveness of CCS technologies, as several projects have failed to perform.
CCS technology is used tocapture carbon dioxideat emission sources, so it can be transported and stored or buried in a suitable underground location.
Several CCS technologies have been launched in recent years, including conventional CCS installations and direct air capture (DAC) – which removes CO2directly from the atmosphere – as they have grown in popularity, particularly across hard-to-abate industries.
As governments have put increasing pressure on industries to decarbonise their operations, companies that cannot simply switch to renewable alternatives have invested heavily in CCS activities to reduce emissions.
While many have criticised companies for relying on carbon capture rather than cutting emissions at the source, CCS tech has been expected to help companies support a green transition as they assess possible long-term solutions.
In 2025, the World Economic Forum predicted that the CCS industry wouldgrow fourfoldby the end of the decade.
This prediction is supported by a massive pipeline of CCS activities, as several sectors invest heavily in the technology.
In the oil and gas industry, ExxonMobil, Shell, Chevron, TotalEnergies, Equinor, and Occidental have allpledged major investmentsin CCS technologies.
Some governments are also backing CCS in a big way.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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