Hydrogen – Page 2 – Oil & Gas 360

How hydrogen will trade in the commodity markets of the future

June 20, 2024

Oil Price Transitioning hydrogen from its current deployment – produced from hydrocarbons for local industrial use – into a global green commodity is a huge task. The few projects now reaching FID usually involve unique two-party agreements or guaranteed offtake within development consortiums. The lack of globally accepted standards, and the price risk of long-term contracts, remain major hurdles holding

Big oil may not support all Trump 2.0 policies

April 23, 2024

Oil Price Since day one of President Joe Biden’s term in office, the U.S. oil and gas industry has been criticizing his energy policies, saying that these undermine America’s energy and national security with punitive and restrictive measures against fossil fuels. Yet, during President Biden’s tenure, American oil and gas production has hit record highs. But this achievement has come despite

ExxonMobil CEO won’t proceed with hydrogen project without Biden’s IRA tax credits

March 21, 2024

World Oil (Bloomberg) – Exxon Mobil Corp. won’t move forward with one of the world’s largest, low-carbon hydrogen projects if the Biden administration withholds tax incentives for natural gas-fed facilities, Chief Executive Officer Darren Woods said during an interview. Under the current guidelines, incentives are earmarked for projects that produce so-called “green” hydrogen by using water and renewable energy. But

US grants $750 million for hydrogen projects across 24 states

March 13, 2024

Nasdaq WASHINGTON – The U.S. Department of Energy said on Wednesday it is granting $750 million to projects across 24 states that are building capacity to produce and use clean hydrogen. Hydrogen is a fuel that the administration of President Joe Biden sees as crucial to reducing use of fossil fuels and cutting emissions from hard-to decarbonize industries such as

US unveils clean hydrogen plan, nuclear power role uncertain

December 22, 2023

Nasdaq WASHINGTON (Reuters) – The U.S. proposed rules on Friday for how energy companies can access billions of dollars in tax credits for producing low-carbon hydrogen using new clean energy sources but left thorny issues, such as how nuclear power could benefit, uncertain. The credit will be based on the life-cycle greenhouse gas emissions from the power source used in hydrogen production,

Gas infrastructure needs to be ready for clean hydrogen

November 17, 2023

Oil Price As green hydrogen becomes an ever more important clean energy source, governments and energy companies must prepare for a steep incline in production in the coming years and ensure they have the correct infrastructure to transport it. Some regions of the world are already establishing major hydrogen corridors, such as the Spain – Netherlands link in Europe. Adapting

Biden set to award $7 billion for U.S. hydrogen hubs

October 11, 2023

World Oil (Bloomberg) — President Joe Biden is set this week to announce as much as $7 billion in funding for hydrogen projects across the country as part of a competition to jump-start production of the clean-burning fuel in the U.S., according to people familiar with the matter. The funding for so-called hydrogen hubs, where the gas can both be

Chevron acquires majority interest in world’s largest hydrogen storage project in Utah

September 13, 2023

World Oil WO) – Chevron U.S.A. Inc., through its Chevron New Energies division, has closed a transaction with Haddington Ventures to acquire 100% of Magnum Development, LLC, and thus a majority interest in ACES Delta, LLC, which is a joint venture between Mitsubishi Power Americas, Inc. and Magnum Development. ACES Delta is developing the Advanced Clean Energy Storage project in

Biden's green hydrogen plan hits climate obstacle: Water shortage- oil and gas 360

Insight: Biden’s green hydrogen plan hits climate obstacle: Water shortage

July 3, 2023

Investing The Biden administration’s climate agenda is facing an unexpected challenge in drought-prone Corpus Christi, Texas, where a proposed clean hydrogen hub would require the installation of energy-intensive, expensive and potentially environmentally damaging seawater desalination plants. The Gulf Coast port is in the running for up to $1 billion available under President Joe Biden’s 2021 Infrastructure Investment and Jobs Act

Technip Energies, ExxonMobil to develop world’s largest low-carbon hydrogen facility

January 31, 2023

World Oil (WO) — Technip Energies won a contract award from ExxonMobil for front-end engineering and design (FEED) for the world’s largest low-carbon hydrogen production facility. The low-carbon hydrogen, ammonia and carbon capture facility in Baytown, Texas, will produce 1 billion ft. of low-carbon hydrogen per day. It will also capture over 98% of related CO2 emissions, which is around

U.S. Department of Energy advances MMEX Resources to final application stage for Trans Permian H2Hub

January 3, 2023

World Oil (WO) — MMEX Resources Corp., sponsor of the Trans Permian H2Hub announced that The U.S. Department of Energy (DOE) approved its concept paper to advance to the final application stage under the guidance for funding clean hydrogen infrastructure. On September 22, 2022, the DOE released its Funding Opportunity Announcement (FOA) to solicit Regional Clean Hydrogen Hubs (H2Hubs) under

Biden’s Inflation Reduction Act makes green hydrogen profitable at scale, Goldman Sachs says

November 30, 2022

CNBC The United States’ Inflation Reduction Act represents a “turning point” when it comes to the economics of technologies such as renewables and hydrogen, according to Goldman Sachs. During an interview with CNBC’s Steve Sedgwick on Tuesday, Michele DellaVigna — who is Goldman’s commodity equity business unit leader for the EMEA region — touched upon a number of issues related

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