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A consortium comprising Chevron (CVX - Free Report) , Air Liquide, LyondellBasell and Uniper SE declared its intent to work in partnership on a joint study that will assess and possibly advance the development of a hydrogen and ammonia production unit located along the U.S. Gulf Coast.
The production facility could aid industrial decarbonization and mobility applications in the area and grow clean ammonia exports. Further, it will help augment the global supply of lower-carbon power.
The project will make use of each participant’s technical know-how in production, operational experience, storage, distribution and export logistics to cover the end-to-end energy value chain.
Moreover, the firms will bring their individual capabilities and expertise in air separation technology, hydrogen technologies, lower-carbon intensity and renewable natural gas, carbon capture and storage (CCS), electrolysis-based technologies and petrochemicals.
The consortium will also evaluate the potential of producing hydrogen using natural gas with CCS and renewable hydrogen via electrolysis to supply end-use markets, including ammonia, petrochemicals, power and mobility markets.
Thus, if the project goes ahead, it could take advantage of the existing pipeline infrastructure along the Gulf Coast to supply lower carbon and renewable hydrogen to local industries. Similarly, the ammonia infrastructure could back the exports to both Europe and the Asia Pacific region.
Chevron is one of the largest publicly traded oil and gas companies in the world with operations spanning worldwide. The only energy component of the Dow Jones Industrial Average, Chevron is fully integrated as it participates in every aspect related to energy, from oil production to refining and marketing.
The Zacks Consensus Estimate for Comstock’s 2022 earnings has been revised upward by about 15% over the past 60 days from $3.33 to $3.83 per share.
The consensus mark for CRK’s 2022 earnings is pegged at $3.83 per share, indicating an increase of about 230.2% from the year-ago earnings of $1.16.
Estimates for The Williams Companies’ 2022 earnings are pegged at $1.54 per share, which indicates an increase of 13.2% from the year-ago earnings of $1.36.
WMB beat estimates for earnings in all the trailing four quarters, the average being around 17.3%.
The Zacks Consensus Estimate for HF Sinclair’s 2022 earnings has been revised about 9.3% upward over the past 60 days from $13.15 per share to $14.38.
The consensus mark for DINO’s 2022 earnings is pegged at $14.38 per share, up 846% from the year-ago earnings of $1.52.
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CVX, Partners Pursue Lower-Carbon Hydrogen & Ammonia Project
A consortium comprising Chevron (CVX - Free Report) , Air Liquide, LyondellBasell and Uniper SE declared its intent to work in partnership on a joint study that will assess and possibly advance the development of a hydrogen and ammonia production unit located along the U.S. Gulf Coast.
The production facility could aid industrial decarbonization and mobility applications in the area and grow clean ammonia exports. Further, it will help augment the global supply of lower-carbon power.
The project will make use of each participant’s technical know-how in production, operational experience, storage, distribution and export logistics to cover the end-to-end energy value chain.
Moreover, the firms will bring their individual capabilities and expertise in air separation technology, hydrogen technologies, lower-carbon intensity and renewable natural gas, carbon capture and storage (CCS), electrolysis-based technologies and petrochemicals.
The consortium will also evaluate the potential of producing hydrogen using natural gas with CCS and renewable hydrogen via electrolysis to supply end-use markets, including ammonia, petrochemicals, power and mobility markets.
Thus, if the project goes ahead, it could take advantage of the existing pipeline infrastructure along the Gulf Coast to supply lower carbon and renewable hydrogen to local industries. Similarly, the ammonia infrastructure could back the exports to both Europe and the Asia Pacific region.
Chevron is one of the largest publicly traded oil and gas companies in the world with operations spanning worldwide. The only energy component of the Dow Jones Industrial Average, Chevron is fully integrated as it participates in every aspect related to energy, from oil production to refining and marketing.
Chevron currently has a Zacks Rank #3 (Hold). Some better-ranked stocks from the energy space that warrant a look include Comstock Resources (CRK - Free Report) , The Williams Companies (WMB - Free Report) and HF Sinclair (DINO - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Comstock’s 2022 earnings has been revised upward by about 15% over the past 60 days from $3.33 to $3.83 per share.
The consensus mark for CRK’s 2022 earnings is pegged at $3.83 per share, indicating an increase of about 230.2% from the year-ago earnings of $1.16.
Estimates for The Williams Companies’ 2022 earnings are pegged at $1.54 per share, which indicates an increase of 13.2% from the year-ago earnings of $1.36.
WMB beat estimates for earnings in all the trailing four quarters, the average being around 17.3%.
The Zacks Consensus Estimate for HF Sinclair’s 2022 earnings has been revised about 9.3% upward over the past 60 days from $13.15 per share to $14.38.
The consensus mark for DINO’s 2022 earnings is pegged at $14.38 per share, up 846% from the year-ago earnings of $1.52.