Market Updates
© Copyright – Welhunt Materials Enterprise Co. Ltd. | Disclaimer/Terms conditions
© Copyright – Welhunt Materials Enterprise Co. Ltd.
Disclaimer/Terms conditions
Market Updates
© Copyright – Welhunt Materials Enterprise Co. Ltd. | Disclaimer/Terms conditions
© Copyright – Welhunt Materials Enterprise Co. Ltd.
Disclaimer/Terms conditions
PETRONAS CCS Ventures Sdn Bhd Receives Malaysia’s First Offshore Assessment Permit for Carbon Capture and Storage
Petronas CCS Ventures Sdn Bhd (PCCSV), a wholly owned unit of Petronas, has received Malaysia’s first offshore assessment permit for carbon capture and storage (CCS) at the Duyong field offshore Peninsular Malaysia. The permit, granted by the Malaysia Carbon Capture, Utilisation, and Storage Agency (MyCCUS) under the newly enacted Carbon Capture, Utilisation, and Storage Act (CCUS Act 2025), allows geological assessment to confirm the site’s feasibility as a carbon storage site. PCCSV collaborates with TotalEnergies and Mitsui under a Key Principles Agreement to advance technical studies with plans to move into front-end engineering design, aiming to establish a commercially viable CCS hub by 2029. This milestone positions Malaysia as a regional leader in CCS and supports national carbon reduction goals aligned with its Net Zero target for 2050.
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#PETRONAS #Malaysia #CCS #CarbonCapture #Offshore #NetZero #CCUSAct2025 #Partnership
Q4 CORSIA Credits Procurement Event Now Open
The Q4 CORSIA Credits Procurement Event is open from November 3 to 28, 2025, inviting airlines to purchase carbon credits through the IATA Aviation Carbon Exchange (ACE). This event offers 1 million credits from the Guyana Jurisdictional REDD+ project. In the recent Q3 event, credits sold at a fixed price of $22.55/tonne via the CBL GEO-CP1 spot contract, which acts as the market benchmark for CORSIA Phase 1. Airlines can monitor this benchmark using the Offset Compliance Simulator on IATA EcoHub. More procurement events are planned for 2026 with increasing supply of eligible emission units (EEUs).
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#CORSIA #CarbonMarket #Aviation #IATA #REDD+ #ACE