ExxonMobil said on Thursday it had completed the acquisition of carbon solutions provider Denbury in an all-stock transaction valued at $4.9 billion, which makes the U.S. supermajor the holder of the largest owned and operated CO2 pipeline network in the U.S. The deal, first announced in July this year, obtained Denbury shareholder approval earlier this week.
We see the potential to drive strong returns with the capacity to reduce the nation's carbon emissions by 100 million tons per year,” Exxon’s CEO Darren Woods said on the earnings call with analysts last week.
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