That's a business Exxon, the biggest oil company in the US, is looking to expand.
The largest US oil major said Thursday it would acquire Denbury, which has the largest network of carbon dioxide pipelines in the country, for $4.9 billion.
Denbury is also in the business of what's called enhanced oil recovery, which involves using carbon dioxide to collect more oil from wells.
Most of the captured carbon dioxide will likely be stored underground, however.
Transporting CO2 requires pipelines, and Denbury has 1,300 miles of carbon dioxide pipelines; much of its network spans Louisiana, Texas, and Mississippi.
Persons:
Denbury, what's, Joe Biden, Dan Ammann, there's, —
Organizations:
Exxon Mobil, Exxon, Service, Privacy, International Energy Agency, IEA, Exxon's, Carbon Solutions, Bloomberg, Denbury, United Nations
Locations:
Wall, Silicon, Louisiana , Texas, Mississippi, Louisiana, CCUS, US, Qatar, Australia