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The latest update is out from Pilot Energy Limited ( (AU:PGY) ).
Pilot Energy Limited has announced a joint feasibility study with South32 Worsley Alumina Pty Ltd to explore the carbon supply chain needed for capturing and storing approximately 700,000 tonnes of carbon dioxide annually from Worsley Alumina operations. This study, supported by a $6.5 million grant from the Australian Government, aims to reduce Scope 1 emissions and assess the transportation and storage of carbon at Pilot’s Cliff Head Carbon Storage project. The study represents a significant milestone for Pilot in enhancing its carbon management initiatives and expanding its engagement with other emitters in Western Australia, potentially impacting the company’s industry positioning and future commercial engagements.
More about Pilot Energy Limited
Pilot Energy Limited is a junior oil and gas exploration and production company transitioning towards carbon management projects, hydrogen production, and clean ammonia for export to emerging APAC Clean Energy markets. The company is utilizing its existing oil and gas infrastructure to develop Australia’s first offshore carbon storage project by converting the Cliff Head Oil field into a carbon storage facility as part of the Mid West Clean Energy Project.
Average Trading Volume: 6,889,351
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$8.27M
For detailed information about PGY stock, go to TipRanks’ Stock Analysis page.
