Is Carbon Capture Big Oil’s Next Pay Day?

August 1, 2024/in /by Rudolf Huber

Oh, Big Oil loves carbon sequestration. CO2 injected into reservoirs makes very viscous oil less so. This means that if someone pumps enough CO2 into a reservoir, this improves its recovery of oil. It’s usually not done a lot as it’s costly but in this case, a mountain of government money provided by fleeced dry taxpayers will enable that. Big Oil gets paid for putting the CO2 underground which at the same time improves its oil production. How great is that? But don’t pop the champagne yet – money is becoming less easy to come by so let’s wait and see how thick the funding side will come in for real.

THE PROPOSAL Carbon capture and storage — the concept of sucking carbon dioxide (CO2) from the atmosphere and storing it underground — is being considered as a way to reduce greenhouse gas

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I met Rudolf at the beginning of 2011, since we were both involved and working together within several European / Scandinavian projects for the development of technology, standardisation and legal aspect in the use of LNG as marine fuel and along its supply chain. Rudolf has vast expertise in, and perspective on, different aspects of LNG technologies, suppliers, infrastructures and supply chain options. He is able to provide a deep understanding and insight into these areas and is a conscientious and diligent source. Moreover, he is a tremendous visionary on the geopolitical, trading and technology aspects of energy, with a special remark for LNG traditional and small / mid magnitude chain. Rudolf has very proactive personal and working approach and is an excellent team worker and leader. Not least, he has a unique persuasive way of writing, negotiating and delivering speeches. I would certainly recommend him as an excellent expert and believe he would be a powerful asset for any company actively working in Oil and Gas. Thank you Rudolf! Marco

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