“Potential multibillion bonanza” awaiting DLE investors (
https://www.ft.com/content/7616a9f4-e0db-4d61-b189-9e81ddd8137b)
Insiders predict that the early-stage activities could pave the way for a bigger leap into significant production of the battery metal.
1. Oil and gas majors are exploring ways to break into the lithium industry to diversify beyond fossil fuels and meet the increasing demand for electric car batteries.
2. Companies like ExxonMobil, Schlumberger, Occidental Petroleum, and Equinor are leveraging their expertise in pumping, processing, and underground fluid management to process lithium from unconventional brine resources.
3. The move into lithium by oil companies is driven by the need to remain profitable amid global efforts to reduce emissions and transition to cleaner energy sources.
4. While the oil companies' involvement in lithium has been limited so far, their interest and investments signal a potential shift towards securing a reliable supply of lithium for electric vehicle production.
5.The success of direct lithium extraction (DLE) technology, which can significantly speed up extraction and improve recovery rates, could open up opportunities for oil majors to extract lithium from wastewater at oilfields and geothermal energy projects.
