Exxon Mobil Corp. (XOM) Tuesday said it has signed a Memorandum of Understanding or MoU with Pertamina, the state-owned energy company for Indonesia, to evaluate the potential for large-scale deployment of low-carbon technologies in Indonesia.
The MoU, which aims to advance Indonesia's net-zero ambitions, was signed near Glasgow, Scotland, where world leaders have gathered to discuss climate policies during COP 26.
As per the deal, the companies have agreed to assess the potential for technologies such as carbon capture, utilization and storage, and low-carbon hydrogen.
By jointly examining subsurface data, the companies expect to identify geologic formations deep underground that could be suitable to safely store CO2, and the potential for safe, commercially viable utilization of CO2.
For comments and feedback contact: editorial@rttnews.com
Business News
April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.