We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
CVX, MOL to Study Liquified CO2 Transportation Feasibility
Read MoreHide Full Article
Chevron Corporation (CVX - Free Report) and the Japanese transport company, Mitsui O.S.K. Lines, Ltd. (MOL), jointly announced that they signed an agreement to study the feasibility of transporting liquefied carbon dioxide (CO2) from Singapore to permanent storage locations offshore Australia.
Per the agreement, the two parties will explore the technical and commercial feasibility of initially transporting up to 2.5 million tons per annum of liquefied CO2 by 2030. Further, the agreement will complement the work to be advanced by a newly declared consortium to explore solutions for the large-scale carbon capture, transport and permanent storage of CO2 from Singapore.
Moreover, Chevron was granted an interest in three greenhouse gas assessment permits offshore Australia. In September, the company also declared that a consortium consisting of Air Liquide, Keppel Infrastructure, PetroChina and CVX signed a memorandum of understanding to assess and develop large-scale Carbon Capture, Utilization and Storage (CCUS) solutions and integrated infrastructure in Singapore.
Mark Ross, the president of Chevron Shipping Company, mentioned that developing safe and dependable CO2 transportation services is a critical step in developing large-scale CCUS solutions. “We are pleased to partner with MOL to explore commercially-ready solutions to focus on realizing this goal,” he added.
Chevron, the American oil major, 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, CVX is fully integrated as it participates in every aspect related to energy, from oil production to refining and marketing.
The Zacks Consensus Estimate for PBF Energy’s 2022 earnings stands at $22.70 per share, indicating an increase of about 1,008% from the year-ago loss of $2.50.
PBF beat the consensus mark for earnings in all the trailing four quarters, the average being around 49%.
The Zacks Consensus Estimate for Par Pacific’s 2022 earnings stands at $7.84 per share, which indicates an increase of about 555.8% from the year-ago loss of $1.72.
The consensus mark for PARR’s 2022 earnings has been revised upward three times over the past 60 days from $4.62 to $7.84 per share.
The consensus estimate for Equinor’s 2022 earnings is pegged at $7.32 per share, which implies an increase of about 137.7% from the year-ago earnings of $3.08.
EQNR beat estimates for earnings in all the trailing four quarters, the average being around 10.2%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Shutterstock
CVX, MOL to Study Liquified CO2 Transportation Feasibility
Chevron Corporation (CVX - Free Report) and the Japanese transport company, Mitsui O.S.K. Lines, Ltd. (MOL), jointly announced that they signed an agreement to study the feasibility of transporting liquefied carbon dioxide (CO2) from Singapore to permanent storage locations offshore Australia.
Per the agreement, the two parties will explore the technical and commercial feasibility of initially transporting up to 2.5 million tons per annum of liquefied CO2 by 2030. Further, the agreement will complement the work to be advanced by a newly declared consortium to explore solutions for the large-scale carbon capture, transport and permanent storage of CO2 from Singapore.
Moreover, Chevron was granted an interest in three greenhouse gas assessment permits offshore Australia. In September, the company also declared that a consortium consisting of Air Liquide, Keppel Infrastructure, PetroChina and CVX signed a memorandum of understanding to assess and develop large-scale Carbon Capture, Utilization and Storage (CCUS) solutions and integrated infrastructure in Singapore.
Mark Ross, the president of Chevron Shipping Company, mentioned that developing safe and dependable CO2 transportation services is a critical step in developing large-scale CCUS solutions. “We are pleased to partner with MOL to explore commercially-ready solutions to focus on realizing this goal,” he added.
Chevron, the American oil major, 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, CVX is fully integrated as it participates in every aspect related to energy, from oil production to refining and marketing.
Chevron currently carries a Zacks Rank #3 (Hold). Investors interested in the energy space might look at some better-ranked stocks — PBF Energy (PBF - Free Report) , Par Pacific (PARR - Free Report) and Equinor (EQNR - 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 PBF Energy’s 2022 earnings stands at $22.70 per share, indicating an increase of about 1,008% from the year-ago loss of $2.50.
PBF beat the consensus mark for earnings in all the trailing four quarters, the average being around 49%.
The Zacks Consensus Estimate for Par Pacific’s 2022 earnings stands at $7.84 per share, which indicates an increase of about 555.8% from the year-ago loss of $1.72.
The consensus mark for PARR’s 2022 earnings has been revised upward three times over the past 60 days from $4.62 to $7.84 per share.
The consensus estimate for Equinor’s 2022 earnings is pegged at $7.32 per share, which implies an increase of about 137.7% from the year-ago earnings of $3.08.
EQNR beat estimates for earnings in all the trailing four quarters, the average being around 10.2%.