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Friday, 16 October 2026

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Key points

  • Strait of Hormuz Blockade Halts Transit, Pushes Crude Above USD 98.
  • Brent Crude Hits $110 as Houthi and Russia-Ukraine Strikes Stoke Supply Fears.
  • USITC rules solar imports from India, Indonesia and Laos harm U.S. manufacturers.
  • China Proposes Export Ban on Perovskite and Tandem Solar Manufacturing Technology.

Climate

Australia Clears West Peron Formation for Bonaparte CCS Storage

Australian regulators have cleared the offshore West Peron formation for carbon dioxide storage under the Inpex-led Bonaparte carbon capture and storage (CCS) project off northern Australia. The ruling identifies the geological layer beneath the seabed as suitable for permanent CO2 storage.

Inpex says the decision is the country's first for an offshore saline aquifer storage site.

Under the project, Inpex plans to inject up to 443 million tonnes of CO2 into the formation over as many as 35 years, subject to further approvals and commercial agreements, according to Offshore Engineer OEDigital.

The declaration confirms the formation can take CO2 injection and storage. It is not final sign-off to build or run the project.

Source: oedigital.com (opens in a new tab)1 sourcePermalink

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