Lithium Mining Causes Pollution, But New Methods Could Showcase More Eco-Friendly Approach
Portfolio Pulse from Stjepan Kalinic
Saudi Aramco and ADNOC are venturing into lithium production from brine in their oilfields to diversify and meet the growing demand for EVs, similar to Exxon Mobil's efforts in Arkansas. Despite a profit decline, Aramco increased its dividend payout. The long-term prospects for lithium remain promising despite recent price drops. Gulf companies are exploring eco-friendly Direct Lithium Extraction (DLE) technologies, avoiding traditional, environmentally harmful methods. Exxon Mobil and Occidental Petroleum are also investigating DLE technologies.
March 12, 2024 | 3:00 pm
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Occidental Petroleum is exploring Direct Lithium Extraction technologies, aiming to capitalize on the transition away from fossil fuels.
Occidental Petroleum's investigation into Direct Lithium Extraction technologies signifies a strategic move towards renewable energy, potentially enhancing its stock value in the short term due to the growing demand for EVs.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Exxon Mobil is expanding into lithium production in Arkansas, exploring Direct Lithium Extraction technologies to meet EV demand.
Exxon Mobil's venture into lithium production and exploration of eco-friendly extraction methods aligns with the growing demand for EVs and renewable energy sources, potentially boosting its stock in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80