By Catherine Airlie – Sep 16, 2010 12:00 AM GMT+0100
Royal Dutch Shell Plc and BP Plc stand to make serious profit by pumping carbon dioxide from European power plants into North Sea oil fields, according to Petroleum and Renewable Energy Company Ltd.
Putting carbon dioxide into old oil wells may yield profits of as much as $40 a metric ton in the next decade, Stewart Whiteley, managing director at the consultant known as Petrenel, said today at a seminar at Londons Geological Society.