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Carbon Capture and Storage:

ExxonMobil has pledged $15 billion toward advancing a "lower carbon future" and positions itself as a global leader in carbon capture and storage (CCS). The company has set a goal to achieve carbon neutral for its Scope 1 and Scope 2 emissions by 2050.

As part of its strategy, ExxonMobil acquired biofuel company BIOJET AS in 2022, while its Canadian subsidiary, Imperial Oil, is working on renewable diesel production. In 2023, the company expanded its low-carbon initiatives by acquiring Denbury Resources for $4.9 billion. More recently, in July 2024, ExxonMobil signed a CCS agreement with CF Industries, enabling the transportation and permanent storage of 500,000 tons of CO₂ per year beginning in 2028.

Energy Transfer

Energy transfer involves the conversion of energy from one form to another. ExxonMobil initiates this process by extracting crude oil and natural gas from deep below the Earth's surface. These resources hold stored chemical energy derived from ancient plants and animals. Once brought to the surface, the crude oil and gas are transported to refineries via pipelines, ships, and trucks. During transit, the energy within the oil and gas remains unchanged until it reaches the refinery. At the refinery, the crude oil is transformed into various usable forms, including gasoline, diesel, and jet fuel.

Refinement process:

Involves 3 important steps including distillation, conversion, and treatment:

Distillation: Crude oil is heated in a large tower called a fractionating column. Since crude oil has different boiling points, they separate into layers as they cool. The lightest substances such as gasoline rise to the top and the bottom layers like asphalt stay on the bottom.

Conversion: Exxon Mobil uses chemical processes to convert heavier molecules into lighter, more valuable ones. This is done through methods like cracking, which breaks large molecules into smaller ones, and reforming, which rearranges molecules to improve fuel quality.

Treatment and Blending: Before fuel can be sold, they must be treated to remove impurities. This helps the fuel become clean and get rid of pollution.

Bibliography:

- Craig Freudenrich, Ph. D. (2023). How oil refining works. Retrieved from https://science.howstuffworks.com/environmental/energy/oil-refining6.htm

- U.S. Energy Information Administration - EIA - independent statistics and analysis. (n.d.). Retrieved from https://www.eia.gov/energyexplained/oil-and-petroleum-products/refining-crude-oil-the-refining-process.php.