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Schlumberger Limited logo and models of an oil rig and oil barrels are pictured in this illustration photo taken in Kyiv on 19 August, 2021.

Nurphoto | Nurphoto | Getty Images

The oilfield services giant SLB, formerly known as Schlumberger, is aiming to accelerate the deployment of carbon capture technology through an investment in Norway’s Aker Carbon Capture.

SLB said late Wednesday that it will pay about $380 million, or 4.12 billion Norwegian kroner, for an 80% stake in the pure-play carbon capture company. The deal is expected to close by the end of the second quarter.

SLB stock was flat in early trading Thursday.

Schlumberger rebranded as SLB in 2022 as part of the company’s growing focus on lower-carbon technologies. SLB is targeting $3 billion in revenue from its new energy business by the end of the decade.

CEO Olivier Le Peuch told analysts during the company’s fourth-quarter earnings call that carbon capture and storage will be a leading contributor to that $3 billion target. SLB is participating in more than $400 million worth of tenders related to carbon capture and storage.

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Carbon capture is a technique that captures carbon dioxide from industrial operations and then transports those emissions, typically through a pipeline, for permanent storage thousands of feet below ground.

Aker Carbon Capture has developed a process that absorbs carbon dioxide emissions with a solution made of water and organic amine solvents.

The International Energy Agency has described carbon capture as critical to achieving net-zero emissions globally by 2050, while at the same warning the oil and gas industry against excessive reliance on the technology.

Le Peuch said in a statement Wednesday that carbon capture and storage will need to scale between 100 and 200 times in less than three decades to support net-zero goals.

Carbon capture is viewed by the oil and gas industry, as well as the IEA, as method to slash emissions for hard to decarbonize heavy industries such as cement manufacturing. Aker Carbon Capture says its process can be applied to gas, coal, cement and refineries.

Though carbon capture techniques have existed for decades, industry has struggled to deploy the expensive and logistically complex technology to capture emissions at a commercial scale.

The IEA said in its net-zero emissions roadmap that industry needs to prove that carbon capture and storage can operate at scale, describing the history of the technology as one of “underperformance” so far.

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Amazon puts first electric semi trucks into ocean freight operation

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Amazon puts first electric semi trucks into ocean freight operation

Southern California truck spotters will have plenty of electric semi trucks to watch out for as Amazon adds fifty Class 8 EVs to its commercial fleet.

The fully electric Volvo semi trucks purchased will haul both heavy cargo containers and customer package loads in Amazon’s first- and middle-mile operations in California. The trucks will join the hundreds of last-mile electric vans from Ford and Rivian that are already delivering packages across the golden state.

These are the first-ever electric trucks in the company’s ocean freight operations, also known as drayage operations. They’ve already started hitting the road at the ports of Los Angeles and Long Beach, with a dozen expected to be in service by the end of the year.

“We’re proud to launch our largest fleet of electric heavy-duty vehicles yet in California,” said Udit Madan, vice president of Worldwide Amazon Operations. “Heavy-duty trucking is a particularly difficult area to decarbonize, which makes us all the more excited to have these vehicles on the road today. We’ll use what we learn from deploying these vehicles as we continue to identify and invest in solutions to reduce emissions in our transportation network, and to impact sustainability in the trucking industry more broadly.”

Amazon picks Volvo VNR Electric semi

Volvo VNR Electric heavy-haul Class 8 BEV; via Amazon.

Amazon’s electric semi of choice this time is the Volvo VNR Electric. These class 8 trucks have a range of up to 275 miles with a gross combined vehicle weight rating (GVWR) of 82,000 pounds. The heavy-duty Volvo trucks ship with a number of safety features that will be familiar to Volvo Car owners, including active collision mitigation, blind-spot detection, lane departure warning, lane keeping assist, and adaptive cruise control.

Altogether, the Volvo VNRs Amazon just added to its fleet are projected to travel more than 1 million miles each year with zero harmful carbon and diesel particulate emissions coming out of their exhaust pipes.

Electrek’s Take

Volvo VNR Electric in oceanside drayage operation; via Amazon.

On the one hand, Amazon is making a big deal out of buying electric drayage trucks – which isn’t really big a deal in 2024, since that’s a legal requirement at this point. You literally can’t buy a new, internal combustion drayage truck in California as of this year.

That said, I’m a “celebrate every positive change” kind of guy, and the people who live and work around Amazon’s operations will be literally and figuratively breathing easier with these trucks in operation. As such, I’m willing to give California Governor Gavin Newsom a victory lap.

“California continues to lead the way in setting world-leading climate goals. No other state has created the kind of environment where Amazon and other businesses can lead on sustainability and take major steps forward like deploying this fleet of electric trucks,” said Gavin, in a statement. “California’s climate action continues powering our economy and creating jobs.”

SOURCE | IMAGES: Amazon.

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Polestar 2 lease price drops to $299 a month thanks to new $10k discount

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Polestar 2 lease price drops to 9 a month thanks to new k discount

Thanks to the $10,000 Polestar Clean Vehicle Incentive introduced last week, 2024 Polestar 2 lease prices are now over $120 a month cheaper.

CarsDirect reports that through May 31, the 2024 Polestar 2 Long Range Dual Motor can be leased for $299 for 27 months with $3,299 due at signing. 

The auto research portal says that’s a $50 drop in the monthly payment with $2,050 less required at signing. As a result, the effective cost fell $126, from $547 per month to $421 before taxes & fees.

The Polestar 2 Dual Motor – list price $55,300 – is a much better deal to lease than the Single Motor model – list price $49,900 – because amazingly, they have the same lease price. That’s basically a free upgrade to the Dual Motor model.

The Polestar 2 first made its debut in 2019 as the automaker’s first fully electric car. It launched in mid-2020 and the milestone 150,000th car rolled off the assembly line in August 2023.

The Polestar 2 is expected to be phased out in 2027, and company says the Polestar 7 will succeed it.

Click here to find a local dealer that may have the Polestar 2 in stock. –affiliate*

Read more: 2024 Polestar 2 first drive: Dual motor shines on the road, but the single motor’s range is a big win


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When will Tesla cars be capable of unsupervised full self-driving (SAE Level 5)?

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