Exxon Mobil lobbies to convert oil and gas leases for CCS

Exxon Mobil has been actively lobbying to convert existing oil and gas leases in the Gulf of Mexico for offshore carbon capture and storage (CCS), according to documents and interviews. The company's repeated interactions with the US Interior Department between 2021 and 2023 suggest a significant push towards using these leases for CO2 storage. The approach could allow faster deployment of CCS technologies, potentially giving Exxon an edge by utilising its existing acreage. While the legal and regulatory outcomes are pending, the implications of Exxon’s strategy raise questions about fairness and the competitive landscape in the emerging CCS market. (Energy Intelligence)