Decarbonizing the Petroleum Industry

Decarbonizing the Petroleum Industry: Current Status, Ongoing Activities, and Future Prospects aims to provide a comprehensive understanding of the challenges and opportunities associated with transforming the petroleum industry into a more sustainable and environmentally friendly sector. It addresses the urgent need to reduce greenhouse gas emissions and combat climate change by adopting innovative technologies, implementing renewable energy solutions, and reducing carbon dioxide emissions throughout the value chain. The book covers a range of topics related to decarbonization in the petroleum industry. It begins with an overview of the industry's historical contribution to greenhouse gas emissions and establishes the link between fossil fuel combustion and climate change. The book then explores various decarbonization technologies and strategies that can be applied to the industry, including carbon capture, utilization, and storage (CCUS), electrification, renewable energy integration, hydrogen, and biofuels. Subsequent chapters delve into specific areas of the petroleum industry, including upstream operations, refining and downstream processes, transportation and distribution, and the production of value-added sustainable products from CO2. Chapters discuss innovative approaches, technologies, and practices that can help reduce emissions and promote sustainability at each stage of the industry's value chain. The book culminates with an examination of policy and regulatory frameworks for decarbonization, including international agreements, government policies, incentives, and carbon pricing mechanisms. It explores the role of industry collaborations and partnerships in achieving decarbonization goals and addresses the challenges and opportunities in financing the transition, overcoming technological barriers, building a skilled workforce, and unlocking new business models and market opportunities.