China Unveils World’s First Carbon-Capturing Oil Vessel

CNChina|

China has introduced the world's first floating production, storage, and offloading vessel equipped with a carbon capture system, marking a significant innovation in offshore oil production. Developed by state-owned Cosco Ocean Shipping Heavy Industry, the vessel, measuring 330 meters in length, has a capacity to produce 120,000 barrels of oil daily while capturing emissions released during its operations, according to Science and Technology Daily. The vessel is set for delivery by the end of February 2025.

This initiative is seen as part of China’s broader commitment to achieving peak carbon emissions by 2030 and reaching net zero by 2060. The technology employed allows for harnessing electricity from exhaust heat to power the vessel, effectively mitigating the environmental impact of oil extraction.

As the international community increasingly acknowledges the urgency of addressing climate change, major oil companies globally are exploring similar innovations. The International Energy Agency indicates that oil and gas extraction accounted for approximately 15 percent of energy-related emissions in 2022, emphasizing the need for cleaner technologies within the sector.

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