Carbon management projects in Kern net $500 million investment | News


A Canadian-based asset management firm has agreed to contribute a half-billion dollars, with the possibility of twice that much still to come, in support of a local oil producer’s plans to develop carbon management projects in Kern County.

California Resources Corp.’s joint venture with a fund run by Brookfield Asset Management Inc. will provide $10 per metric ton of carbon dioxide injected into a large geologic formation in the Elk Hills Oil Field. The partnership proposes to deposit 5 million metric tons per year for a total of 200 million metric tons.



Read original article here

Denial of responsibility! My droll is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave a comment