Insight
Carbon capture and storage: An oil market perspective
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Report summary
Carbon emissions pose a risk to future liquids production as there is increasing shareholder pressure on the oil industry to meet the Paris Agreement targets. However, oil demand in our Macro Oils outlook to 2050 is still forecast to remain close to today’s levels after growing in the medium term. Producers are aiming to find carbon-neutral approaches to help meet that demand. Carbon Capture and Storage (CCS) technology has the potential to provide one solution of many to reach climate change goals. In this insight, we connect the dots between the CCS technology and its application in oil production and evaluate current policies and actions to incentivize its usage and development.
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