$100MM Pledge to Support Carbon Innovation

$100MM Pledge to Support Carbon Innovation
Here is a review of some of Rigzone's most viewed downstream-related articles from the past week.

A tycoon with a knack for making headlines has generated interest among Rigzone’s audience this past week. Read on for more information about this and other popular recent Rigzone articles linked to the downstream.

Elon Musk Offers $100MM Carbon Capture Prize

A billionaire many times over who often garners publicity, Elon Musk caught many Rigzone downstream readers’ attention this week with a tweet that he will donate $100 million toward a prize for best carbon capture technology. The social media post from the magnate, whose businesses include Tesla (NASDAQ: TSLA) and SpaceX, generated an enthusiastic response from a Scotland-based group that backs carbon-reduction initiatives.

TC Energy Reacts to Keystone Pipeline Development

President Biden took several broad actions during his first week in office that will affect the oil and gas industry. One such move was his revocation of a key permit for TC Energy Corp.’s (TSX, NYSE: TRP) Keystone XL pipeline. Shortly after news broke last week of Biden’s intention to pull the permit, TC Energy stated that it would suspend advancement of the project. That would later translate into significant job losses.

Shell Reshapes Malaysia Business

In conjunction with efforts to streamline the organization, Shell (NYSE: RDS.A) has unveiled plans to make changes across the value chain in Malaysia that will result in an overall two-percent local workforce reduction over two years. Within Shell Malaysia, upstream will sustain the largest share of job cuts, according to this staff-written article. However, the company plans to grow its in-country downstream marketing segments and bolster its retail and lubricants positions.

To contact the author, email mveazey@rigzone.com.



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