Oil Daily | COSCO Launches Vessel with Carbon Capture; Diamondback's $5B Permian Acquisition Set

【Industry News】

Chinese COSCO has launched a pioneering floating oil production and storage vessel equipped with a carbon capture system. The vessel, with a capacity to process 120,000 barrels of crude daily, includes a cleansing tower for carbon capture and is seen as a critical tool in the energy transition. Wood Mackenzie predicts global carbon capture investments to near $200 billion by 2034, with significant support from government subsidies, particularly in the Asia Pacific region.

【Company News】

Diamondback Energy is set to announce a significant acquisition of Double Eagle in the Permian, valued at approximately $5 billion. This follows last year's acquisition of Endeavor Energy Resources for $28 billion. Despite a slowdown in shale mergers and acquisitions, opportunities for consolidation remain, with an estimated $150 billion available globally, primarily in North America.