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At present, petrochemical companies all over the world are actively carrying out carbon neutrality related work
.
For the US oil giants, carbon reduction is also a key task
Lack of financing is the key issue
Lack of financing is the key issue Lack of financing is the key issueExxon Mobil and Chevron are the two largest oil companies in the United States.
Compared with European competitors Shell and Total Energy, the two companies also have a sense of urgency in investing in renewable energy, but they are in "green" technology.
The proportion of investment in China is relatively low
.
Instead of imitating European companies' massive investment in renewable energy, American companies have continued to reduce investment spending
The key problem that ExxonMobil and Chevron cannot follow the example of European companies is the lack of external financing
.
As for Exxon Mobil, despite the great improvement in operating conditions in the first quarter of this year, the company's investment and financing dilemma has not yet been improved
Chevron’s financial situation is much better than ExxonMobil, and the company has also made some investments in renewable energy
.
However, Chevron is also sparing no effort to attract investment to further improve its operating conditions
The original oil refining equipment must be used effectively
The original oil refining equipment must be used effectively.The original oil refining equipment must be used effectively.
Another problem is that Chevron and ExxonMobil both have large refining departments
.
On the one hand, the refining sector contributes a lot to the overall carbon emissions of the US oil giants
Currently, ExxonMobil and Chevron are studying how to use existing equipment to process vegetable oils and biofuels or bio-based raw materials processed with petroleum distillates to produce renewable diesel, Sustainable aviation fuel (SAF) and renewable gasoline
.
The source said that at the request of ExxonMobil, the International Standards and Testing Organization (ASTM) established a working group to determine the possibility of existing refineries processing up to 50% of specific types of biological materials to produce SAF
.
Chevron is studying how to process these feedstocks through its fluidized catalytic cracking unit (FCC), which is a gasoline production unit and is usually the largest component of a refinery facility
A Chevron spokesperson said: "Our goal is to use the FCC to co-process biological raw materials by the end of 2021 and supply renewable products to consumers in Southern California
.
" Chevron is working with the U.
Looking forward to U.
S.
government tax credits
S.
government tax credits Looking forward to U.
S.
government tax credits
At present, the United States still has the problem of high cost of renewable fuels, and the government is trying to solve this problem
.
Industry giants watch the wind and are not eager to increase investment
Renewable fuels account for 5% of U.
S.
fuel consumption.
As various industries take measures to reduce overall carbon emissions, the consumption of renewable fuels in the U.
S.
will continue to grow
.
However, unless tax credits are added, the commercial production of renewable fuels is much more expensive than the production of traditional gasoline
.
Therefore, the US Congress is considering the passage of tax credit legislation to further stimulate the commercial processing of sustainable aviation fuel by refineries
.
If approved, the refinery’s new method of producing renewable fuels will allow the refinery to avoid lengthy environmental permit procedures
.
Many of these processes are still undergoing further testing to determine which processes can achieve commercial production of renewable fuels without harming the refinery equipment
.
At present, some American companies are taking advantage of federal and state fiscal incentives to make profits.
For example, Valero Energy, headquartered in San Antonio, and Nestor Petroleum, of Finland, have increased the production of renewable fuels from waste oil and vegetable oil.
.
Several oil refineries in the United States are partially or fully transforming their plants to produce certain renewable fuels
.
