Cellugy has developed a platform technology that enables the creation of fully bio-based and biodegradable alternatives to carbon-intensive petrochemicals.
PetroChina reported $20.6 billion in net income for 2023, up 8.3 percent compared to 2022 as growth in both upstream and downstream output offset weaker oil prices.
The cargo of Merey crude is expected to be discharged over the weekend, but the Chinese oil major is unlikely to make further purchases if US sanctions on Venezuela are reinstated.
The contract includes the construction of carbon capture units, pipeline infrastructure, and a network of wells for carbon dioxide injection at the Habshan gas processing plant.