Latest news with #Marubeni
Yahoo
a day ago
- Business
- Yahoo
ExxonMobil in the Crosshairs: The Trump Administration Is Cutting Funding for Projects Aimed at Capturing a Potential $4 Trillion Market Opportunity.
The Trump administration is cutting funding for several clean energy projects. Exxon will lose funding for its Baytown project, while a key customer will lose funding for another project in the area. The oil company has plenty of fuel to continue growing in the near term, even with these potential losses. 10 stocks we like better than ExxonMobil › The Trump administration is cutting funding to 24 green energy projects totaling $3.7 trillion, 70% of which received approval toward the tail end of the Biden administration. Oil giant ExxonMobil (NYSE: XOM) got caught in the crosshairs of these cuts. It stands to lose $332 million in funding for a carbon capture and sequestration (CCS) project at its refinery complex in Baytown, Texas. Meanwhile, one of its customers will lose funding for a project linked to Exxon. Exxon believes carbon capture and storage could eventually grow into a $4 trillion global market opportunity in the coming decades. Here's a look at the projects getting funding cuts and whether it will impact the oil stock's ability to grow shareholder value in the future. Exxon is working to develop the world's largest low-carbon hydrogen and ammonia production facility at its Baytown refinery complex. The facility would produce 1 billion cubic feet of low-carbon hydrogen per day from natural gas and more than 1 million tons of low-carbon ammonia per year. The company will use the hydrogen for its olefins plant at Baytown, which makes building blocks for things like plastics, detergents, and adhesives. It will sell the low-carbon ammonia to global customers (Exxon inked a deal to sell 250,000 tonnes per year to Japan's Marubeni last month). A key aspect of this facility is an associated carbon capture and sequestration project, which would be one of the largest in the world. The project would have the capacity to store up to 10 million metric tons of carbon dioxide per year, equal to the emissions of over 2 million cars. The company estimates that the project would capture 98% of the associated carbon dioxide produced by the facility each year. That low emission profile is appealing to customers like Marubeni. The Japanese company plans to use low-carbon ammonia to fuel a power plant supporting its steelmaking operations. That company agreed to acquire an equity interest in Exxon's project to support its development. Exxon has called Baytown a landmark project and a game changer for its ability to produce low-carbon fuels. The company had hoped to make a positive Final Investment Decision (FID) on the project this year, putting it on track to start producing in the 2027-2028 time frame. However, the FID is contingent on a supportive government policy, which no longer appears to be the case. Exxon could also feel an indirect impact from the Trump administration's cuts. Power producer Calpine had previously received up to $270 million in funding for its Baytown CCS project in Texas and a second $270 million award for another project in California. The Texas project would capture 95% of the carbon dioxide emissions of its Baytown Energy Facility. This cut could also have an impact on Exxon's CCS ambitions. The oil company inked a deal with Calpine in April to transport and store up to 2 million metric tons of carbon dioxide from its Baytown Energy Center. That would have enabled the energy company to deliver even lower-carbon-natural gas power to customers. That deal was Exxon's sixth contract with customers to transport and store carbon dioxide through its integrated network of pipelines and underground storage hubs. ExxonMobil sees a huge opportunity ahead for lower-carbon energy. The oil giant is pursuing up to $30 billion in lower emissions investment opportunities like Baytown and CCS transportation and storage projects to support companies like Calpine. It has the potential to add new sources of growth for the oil giant. Further, many of its low-carbon projects would produce less volatile earnings than its oil and gas business because long-term, fixed-rate contracts would back these investments. However, while CCS is a potentially massive opportunity, it's not a major near-term growth driver for Exxon. The company expects to invest $140 billion into major capital projects and its Permian Basin development plan over the next several years, which it believes will fuel $20 billion of additional earnings and $30 billion in incremental cash flow by 2030. So, the potential loss of the Baytown projects shouldn't derail the oil giant's plan to grow shareholder value in the coming years. Before you buy stock in ExxonMobil, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and ExxonMobil wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $651,049!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $828,224!* Now, it's worth noting Stock Advisor's total average return is 979% — a market-crushing outperformance compared to 171% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Matt DiLallo has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. ExxonMobil in the Crosshairs: The Trump Administration Is Cutting Funding for Projects Aimed at Capturing a Potential $4 Trillion Market Opportunity. was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
2 days ago
- Business
- Reuters
Philippine regulator approves water company Maynilad's $670 million IPO
SINGAPORE, June 3 (Reuters) - Philippine water services company Maynilad has received the go-ahead for its initial public offering on the domestic stock exchange, the Securities and Exchange Commission said. Reuters in January reported that the private waterworks and sewerage and sanitation company had enlisted banks, including Morgan Stanley (MS.N), opens new tab and UBS (UBSG.S), opens new tab, to assist with a more than $500 million IPO in the Philippines. The commission said in a statement that it had approved Maynilad's IPO, covering 1.93 billion primary shares and 354.7 million secondary shares, subject to the company's compliance with certain remaining requirements. The commission added that Maynilad could net up to 37.41 billion Philippine peso ($671.53 million) from the IPO, assuming the overallotment option and preferential offer are fully subscribed. Maynilad is managed by Maynilad Water Holdings Company, a joint venture between infrastructure conglomerate Metro Pacific Investments Corp, construction and nickel mining group DMCI Holdings ( opens new tab and Japanese trading company Marubeni Corp (8002.T), opens new tab. Proceeds will be used to fund the company's capital expenditures and for corporate general purposes. The IPO offer period will run from July 3 to 9, with the shares expected to be listed on the main board of the Philippine Stock Exchange on July 17, the statement showed. Maynilad tapped BPI Capital Corp, HSBC, Morgan Stanley and UBS as joint global coordinators and joint bookrunners for the offer, according to the statement. ($1 = 55.7090 Philippine pesos)
.png%3Fwidth%3D1260%26fit%3Dcover%26gravity%3Dfaces%26dpr%3D2%26quality%3Dmedium%26source%3Dnar-cms%26format%3Dauto%26height%3D630&w=3840&q=100)
Nikkei Asia
2 days ago
- Business
- Nikkei Asia
Marubeni signs 'green ammonia' deal with China's Envision Energy
TOKYO -- Japanese trading house Marubeni has signed its first-ever deal to buy "green ammonia" on a long-term basis, as the Warren Buffett-backed company doubles down on the gas that it deems critical to decarbonization. Marubeni announced Tuesday that it has signed the offtake deal with Shanghai-based Envision Energy, the world's second-largest wind turbine manufacturer, from its plant in Inner Mongolia.
Yahoo
2 days ago
- Business
- Yahoo
New Global Trade Benchmark: Envision Energy and Marubeni Sign Green Ammonia Offtake Agreement
CHIFENG, China, June 2, 2025 /PRNewswire/ -- Envision Energy, a global leader in green technology, announced a historic green ammonia offtake agreement with Marubeni Corporation, one of Japan's five major trading companies. This pioneering agreement on a global scale validates the commercial viability of green ammonia as a scalable energy solution, sets a global benchmark for its trade, and highlights the vast potential of green hydrogen-ammonia energy across the Asia-Pacific and beyond. The partnership brings together Envision Energy's leadership in integrated green hydrogen-ammonia solutions with Marubeni's expansive global network and energy trade expertise, facilitating large-scale production, supply, and commercialization of green ammonia. It aims to fast-track the global transition to low-carbon energy solutions, particularly in industries such as chemicals and fertilizers, driving sustainable growth across diverse sectors worldwide. This collaboration will also accelerate Japan's shift to a green economy, drive greater investment and innovation, and support the government's sustainability goals. "The global energy landscape is undergoing profound changes, with hydrogen-ammonia playing an increasingly pivotal role." said Mr. Frank Yu, Senior Vice President of Envision Energy, "Together with Marubeni, we are accelerating the commercialization of ammonia, turning it into a key energy solution that powers the world's transition to carbon-neutral fuels. This partnership lays the groundwork for ammonia-powered transportation and electricity generation, ultimately fostering a cleaner and more sustainable energy ecosystem." Envision Energy is the world's leading green hydrogen producer and the only company that possesses core technologies in renewable energy, hydrogen production, and net-zero industrial park, targeting for decarbonization at scale by green hydrogen-ammonia solutions. By pioneering full-stack green hydrogen technologies, including alkaline and PEM electrolysis technologies, along with its engineering competences and system integration capabilities, the company aims to address key challenges in the green hydrogen arena, particularly those related to efficiency and the intermittency of renewable energy sources. The company is at the forefront of developing the world's largest commercial green hydrogen-ammonia plant, leveraging its innovative net-zero industrial park model and full-stack green hydrogen technologies. Fully powered by green electricity from directly coupled wind and solar energy, the plant efficiently integrates wind, solar and storage with hydrogen-ammonia production to optimize costs and enhance sustainability. The initial production phase, launched in early 2024, targets 300,000 tons of green ammonia annually and plans to scale up to a total annual capacity of 1.5 million tons upon completion. Envision's outstanding contribution to decarbonization earned it the Energy Transition Changemaker Award at COP28 and recognition as an "Energy Innovator" on Fortune's Change the World list in 2024. View original content: SOURCE Envision Energy
Yahoo
2 days ago
- Business
- Yahoo
New Global Trade Benchmark: Envision Energy and Marubeni Sign Green Ammonia Offtake Agreement
CHIFENG, China, June 2, 2025 /PRNewswire/ -- Envision Energy, a global leader in green technology, announced a historic green ammonia offtake agreement with Marubeni Corporation, one of Japan's five major trading companies. This pioneering agreement on a global scale validates the commercial viability of green ammonia as a scalable energy solution, sets a global benchmark for its trade, and highlights the vast potential of green hydrogen-ammonia energy across the Asia-Pacific and beyond. The partnership brings together Envision Energy's leadership in integrated green hydrogen-ammonia solutions with Marubeni's expansive global network and energy trade expertise, facilitating large-scale production, supply, and commercialization of green ammonia. It aims to fast-track the global transition to low-carbon energy solutions, particularly in industries such as chemicals and fertilizers, driving sustainable growth across diverse sectors worldwide. This collaboration will also accelerate Japan's shift to a green economy, drive greater investment and innovation, and support the government's sustainability goals. "The global energy landscape is undergoing profound changes, with hydrogen-ammonia playing an increasingly pivotal role." said Mr. Frank Yu, Senior Vice President of Envision Energy, "Together with Marubeni, we are accelerating the commercialization of ammonia, turning it into a key energy solution that powers the world's transition to carbon-neutral fuels. This partnership lays the groundwork for ammonia-powered transportation and electricity generation, ultimately fostering a cleaner and more sustainable energy ecosystem." Envision Energy is the world's leading green hydrogen producer and the only company that possesses core technologies in renewable energy, hydrogen production, and net-zero industrial park, targeting for decarbonization at scale by green hydrogen-ammonia solutions. By pioneering full-stack green hydrogen technologies, including alkaline and PEM electrolysis technologies, along with its engineering competences and system integration capabilities, the company aims to address key challenges in the green hydrogen arena, particularly those related to efficiency and the intermittency of renewable energy sources. The company is at the forefront of developing the world's largest commercial green hydrogen-ammonia plant, leveraging its innovative net-zero industrial park model and full-stack green hydrogen technologies. Fully powered by green electricity from directly coupled wind and solar energy, the plant efficiently integrates wind, solar and storage with hydrogen-ammonia production to optimize costs and enhance sustainability. The initial production phase, launched in early 2024, targets 300,000 tons of green ammonia annually and plans to scale up to a total annual capacity of 1.5 million tons upon completion. Envision's outstanding contribution to decarbonization earned it the Energy Transition Changemaker Award at COP28 and recognition as an "Energy Innovator" on Fortune's Change the World list in 2024. View original content: SOURCE Envision Energy Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
