Sunday September 24, 2006

OPEC calls for green solutions to reduce emissions from oil

peakoil.com -> bruneitimes.com.bn :

OPEC called for the use of advanced technology that reduces carbon dioxide emissions to ensure a cleaner environment and the safe use of oil and natural gas to foster global development. Carbon Dioxide Capture and Storage technology is based on removing harmful gases from major industrial activities, mainly power generation, and then storing it or injecting it into mature oilfields to boost reserves. CCS technology is not yet used on an industrial scale but three pilot projects are already operating in Algeria, Canada and the North Sea off the Norwegian coast.

The technology has the "dual benefits of reducing carbon dioxide emissions into the atmosphere while enhancing oil recovery", said Majed al-Moneef, Saudi governor to Opec. According to initial reports, the technology boosts reserves of mature oilfields by between 10 and 15 per cent, while it cuts the emission of carbon dioxide from industrial activities by half.

See also :

1. OPEC: High and volatile prices may be new norm
2. Arabs urged to develop nuclear energy

(2006-09-24 21:11:39 SGT) [Energy] Permalink

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