Oil futures erase early losses, turning higher as tight supplies allow gasoline to continue a push into record territory.
The facility could accommodate up to 4 EH/s of mining power. Site development is expected to start this quarter.
Chevron Corp's Gorgon carbon capture and storage (CCS) project in Australia is working at only half its capacity nearly three years after starting up and the company has no timeframe for delivering on targets it has so far failed to meet, a senior executive said. The world's largest CCS project, which started up three years late, is being closely watched by the gas industry globally as carbon capture and storage is seen as essential for producers to meet net zero emissions targets by 2050. Gorgon CCS had originally been slated to be fully operational by last year when the project faced its first five-year rolling assessment.