SLB is targeting $3 billion in revenue from its new energy business by the end of the decade, with carbon capture and storage expected to play a leading role.
SLB, formerly known as Schlumberger, is investing nearly $400 million in Norway's Aker Carbon Capture.
SLB said late Wednesday that it will pay about $380 million, or 4.12 billion Norwegian kroner, for an 80% stake in the pure-play carbon capture company. The deal is expected to close by the end of the second quarter.Schlumberger rebranded as SLB in 2022 as part of the company's growing focus on lower-carbon technologies. SLB is targeting $3 billion in revenue from its new energy business by the end of the decade.
Carbon capture is a technique that captures carbon dioxide from industrial operations and then transports those emissions, typically through a pipeline, for permanent storage thousands of feet below ground. The International Energy Agency has described carbon capture as critical to achieving net-zero emissions globally by 2050, while at the same warning the oil and gas industry against excessive reliance on the technology.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
I Tried Sakara Life’s $400 Plant-Based Meal Delivery ServiceThis influencer and celebrity-endorsed meal delivery service is expensive, but it’s also kind of worth it.
Read more »
You can get a PS5 with Spider-Man 2 for $400 right nowKris Holt joined Engadget as a contributing reporter on the news desk in 2018. He has been writing about technology, games, streaming and entertainment for over a decade after starting his career as a sub-editor on a local newspaper. Kris holds a Master of Arts degree in English from the University of Dundee.
Read more »
Biden wants to give homebuyers $400 per month: State of the UnionIn his State of the Union address, President Joe Biden announced a new plan to give new homebuyers a tax credit that would lower the cost of purchasing a home.
Read more »
A bundle with the PS5 and Spider-Man 2 is on sale for $400 right nowKris Holt joined Engadget as a contributing reporter on the news desk in 2018. He has been writing about technology, games, streaming and entertainment for over a decade after starting his career as a sub-editor on a local newspaper. Kris holds a Master of Arts degree in English from the University of Dundee.
Read more »
Tennessee Handle Falls Below $400 Million in FebruarySportsbook deducted $2.1 million, more than January’s $1.6 million, leaving a taxable total of $378.2 million.
Read more »
Save $400 on this Dell PC with an RTX 4070, 32GB of RAM, 1TB SSDThis model of the Dell XPS Desktop 8960 with the Nvidia GeForce RTX 4070, 32GB of RAM, and a 1TB SSD is on sale for just $1,850 from Dell after a $400 discount.
Read more »