Exxon boosts low-carbon efforts with $4.9bn deal for Denbury Resources

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ExxonMobil is doubling down on its carbon management business, announcing an almost $5bn deal for Denbury Resources that would give the oil supermajor access to the biggest pipeline network in the US for transporting and storing the greenhouse gas.

Denbury — which was among the dozens of US oil producers to succumb to bankruptcy during the 2020 price collapse — is a specialist in carbon management, in which emissions are transported and stored or us